# 8.1 What is Hedera

### Hedera Hashgraph Explained <a href="#toc90187469" id="toc90187469"></a>

Hedera is a public distributed ledger and governing body built from the ground-up to support new and existing applications running at web 3.0 scale. Developers use distributed ledger technologies to build computational trust directly into their applications. This allows individuals and businesses who might not know or trust each other to collaborate quickly and inexpensively. Public distributed ledgers allow for creating and exchanging value, proving identity, verifying, and authenticating important data, and much more.

Hedera is unique in that it achieves the same result as the most ubiquitous public blockchains (such as Bitcoin or Ethereum), but in a way that is faster, fairer, more energy efficient, stable, and secure. These advantages can be attributed to the underlying hashgraph consensus algorithm and the global enterprise governing body, which owns and operates Hedera today. \[3]

HOFS is excited to be partnering with Hedera to build the HOFS Metaverse in a sustainable and greener way (Green Hoof) with a robust governing council consisting of 39 term-limited and highly diversified organizations and enterprises overseeing the operations.

![Figure 20: HEDERA HASHGRAPH MODEL](https://580900919-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FsDMmydxIKghoSAaEmD93%2Fuploads%2FAGGyNYiDQUhmoiZHUTVe%2FHedera.png?alt=media\&token=90dc0428-8c1a-4f06-b2c7-1776e61cf74d)

