Cryptocurrency exchange Bitrue continues the marathon of new coin listings, mostly focused on disruptive technologies and new projects operating on smart chains. The last addition to its catalogue is the Hedera Hashgraph network, a public distributed ledger that has been touted as being a faster, more secure alternative to other blockchain consensus mechanisms.
Hedera Hashgraph presents itself as an alternative to bitcoin and Ethereum blockchains, albeit it doesn’t require compute-heavy proof of work. Instead, the network allows transfers of value, the creation and execution of smart contracts, file transfers, and more.
Furthermore, Hedera blockchain is much faster because it processes transactions in parallel, not serially, and it takes only a few seconds for a transaction to be sent out and confirmed.The network handles over 6.5 million transactions per day, reaching absolute finality in just seconds, and transaction fees of under 1 cent.
Comparatively, Bitcoin and Ethereum blockchains process 300,000 and 1.2 million transactions, respectively. Additionally, it can take more than 10 minutes to confirm a transaction and they have maintained an average fee of more than $10 throughout much of 2021.
Dapps developers can use Hedera Hashgraph to build decentralized applications that cover a variety of use-cases, including DeFi products, as it supports the same object-oriented programming language of Ethereum. It also benefits from its innovative gossip protocol and virtual voting.
A council of 39 multinational corporations from around the world govern the Hedera Hashgraph network and the software that will run on millions of nodes globally.
Bitrue has also added the HBAR coin, which powers the Hedera network, to its supported coin roster. Trading for HBAR will be available as a USDT pair starting on June 17th, and will be added into Bitrue’s investment service effective June 18th.
$1.8 billion, that’s HBAR coin’s market cap at pixel time, making it the 34th-largest cryptocurrency. The token has also seen its price increase 8.19% over the past 24 hours and is now selling at $0.2095.
Commenting on the news, Adam O’Neill, Chief Marketing Officer at Bitrue said:
“The cryptocurrency industry changes so fast, and it’s important for us to be as responsive as possible to listing all the exciting new projects that our community is asking for. By adding support for Hedera Hashgraph we will be able to add some of the most technologically innovative projects to our platform faster than ever.”
“Now that the groundwork is done, we are enthusiastically moving forward in our discussions with projects that we can on-board soon. Our users can look forward to more exciting news within the next couple of months.”
As the competition begins to mount, Bitrue is looking to ramp up its altcoin listing process to keep up with emerging players. The platform currently ranks 65th on the list of top crypto exchanges based on 24-hour trading volume, according to industry data aggregator CoinMarketCap.
Bitrue, which kicked off its operations in 2018, established itself as one of the world’s first hybrid exchanges that integrated popular DeFi products into their original centralized finance infrastructure.
Bitrue’s decentralized finance offering, a P2P matching engine connecting borrowers and lenders, has gained traction over the past few months. Meanwhile, its core native utility token Bitrue Coin (BTR) has gone live on Binance Smart Chain and Pancake Swap.
Earlier in May, Bitrue launched a $50-million investment fund geared toward supporting crypto projects working on use cases with the potential to advance the emerging blockchain ecosystem.