Altcoins like HBAR and MATIC launched a whole decade after Bitcoin, so they had much time to learn and think outside the box. These coins promise to overcome many challenges that plague cryptocurrencies — for example, scalability, security, and transaction speed limitations.
This post discusses HBAR vs MATIC, two increasingly popular altcoins that are as similar as they are different.
What Is HBAR?
HBAR is a cryptocurrency that launched in 2017, aiming at delivering fast transaction speeds, better security, and a fairer consensus mechanism. It is the native token of Hedera. This innovative network leverages distributed technology and its novel DAG (decentralized acrylic graph) technology.
The network works in part like blockchain technology, but stores data in hashes as opposed to blocks. It also lacks the chain of blocks that gives blockchain its name. Instead, it leverages time-stamped data and the Gossip consensus protocol.
In this protocol, nodes interact with neighboring ones and transaction time is determined by gossip speed. It is faster, more economical, and more secure than blockchain’s PoW algorithm. HBAR can churn out 10,000 transactions per second and maintain transaction costs as low as $0.0001.
HBAR Use Cases
HBAR provides a fast, secure, and efficient distributed ledger technology to serve enterprises. It has multiple applications, including:
- supply chain: the self-reinforcing nature of smart contracts is perfect for supply chain management. Moreover, Hedera provides several critical supply chain attributes — like fair transaction ordering and fast speeds.
- Healthcare: HBAR allows for safe, secure, and efficient management of patient data. As a decentralized network, It can also facilitate fast onboarding and collaboration of authorized participants.
- dApps: Hedera is perfect for distributed apps, thanks to its high throughput, excellent security, and smart contracts. Additionally, it provides a straightforward platform and has SDKs in multiple languages, catering to a wide variety of developers.
Hedera Price Prediction
Hedera has a total supply of 50 billion HBAR. Its circulating supply was 33.5 billion HBAR, and it had a market cap of over $1.7 billion at the time of writing. Additionally, it was selling at $0.05. Here is what experts think of HBAR’s future:
- Digital Coin Price foresees HBAR selling at $0.12 in 2024, $0.18 in 2025, $0.22 in 2026, $0.22 in 2027, $0.27 in 2028, and $0.97 by 2032.
- Cryptopolitan predicts HBAR’s price will reach $0.088 in 2024, $0.13 in 2025, $0.19 in 2026, $0.28 in 2027, $0.41 in 2028, and $1.93 by 2032.
What Is MATIC?
MATIC is the native token of the Polygon network. You can trade it for other cryptocurrencies, such as swap BNB to MATIC and vice versa. Polygon is a sidechain that enhances Ethereum’s efficiency by increasing throughput and lowering transaction costs.
The network also facilitates interoperability between other Ethereum-based apps and provides an easy platform for building dApps. It already supports tens of thousands of dApps.
Polygon uses the PoS consensus method, which is fast, cost-effective, and decentralized. While Ethereum can only process about 15 transactions per second, Polygon can spew close to 10,000 MATIC TPS.
Where to Use MATIC?
Polygon solves much of the scalability and interoperability issues of Ethereum. The platform connects thousands of other networks and allows for building dApps, which presents the following use cases:
- PoS sidechains. Developers can use Polygon’s SDK to build standalone side chains that are connected to Ethereum.
- Zk-rollups. Polygon provides several ZK-rollups that let you combine several off-chain transactions into one on-chain transaction.
- Gaming. The MATIC network supports developers to build games on Web 3.0. Additionally, it pairs well with game purchases and NFT trades because of its fast and cost-effective transactions.
- De-Fi. Polygon has a TVL of billions of dollars in the DeFi sector. Moreover, it is now working on a mechanism that will help merchants determine the credit history of their clients.
MATIC Price Forecast
MATIC has a total supply of 10 billion, of which 9.3 billion was in circulation at the time of writing. It also had a market cap of $6 billion and was selling at $0.62. Let’s look at some expert predictions:
- Digitalcoinprice sees MATIC selling at $1.59 in 2024, $2.15 in 2025, $2.77 in 2026, $2.77 in 2027, $3.29 in 2028, and $11.97 by 2032.
- Cryptopolitan.com predicts MATIC’s price to reach $1.18 in 2024, $1.73 in 2025, $2.44 in 2026, $3.45 in 2027, $5.21 in 2028, and $24.15 by 2032.
HBAR vs. MATIC: Time to Invest
HBAR and MATIC are excellent altcoins that demonstrate novel innovations to overcome the challenges of legacy cryptocurrencies. They aim at better security, fast speeds, improved scalability, and lower transaction costs. The two coins are also perfectly intertradable. However, prediction experts believe MATIC has more price growth potential.
