Hedera Hashgraph is a public network based on distributed ledger technology (DLT), developed for businesses and companies as a platform for decentralized services and applications. Hedera positions itself as a third–generation public network, the next stage in the development of bitcoin and Ethereum. The strengths of the project include high scalability, security, smart contracts, energy efficiency and low usage fees.

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To stay up to date with the change in r0.4 from the old model, read this FAQ about how we now report fees and balances in records:
https://help.hedera.com/hc/en-us/articles/360005232657-How-are-the-transfers-and-fees-associated-with-a-transaction-published