Introduction to Hedera
Understanding Hedera network and SettleMint's EVM implementation
For a comprehensive overview of Hedera as a supported blockchain, visit our Hedera network overview.
Using Hedera with EVM compatibility
When working with Hedera through SettleMint, you'll be using Hedera's EVM compatibility layer. This means:
- Your smart contracts are written in standard Solidity
- Addresses follow the Ethereum 0x format rather than Hedera's native 0.0.x format
- You can use SettleMint's code studio IDE and existing smart contract templates directly with Hedera
- Deploy using SettleMint's built-in tools (task manager, SDK, CLI) with the same workflow as other EVM chains
This EVM compatibility layer acts as a bridge between Ethereum's developer experience and Hedera's performance advantages, allowing you to deploy the same contracts you'd use on Ethereum while benefiting from Hedera's speed and lower costs.
While working through the SettleMint platform, you don't need to worry about the complexities of Hedera's native format - all conversion between EVM and native Hedera formats is handled automatically.
What is Hedera?
Hedera is an enterprise-grade public network that offers the security of blockchain with significantly faster transaction speeds and lower costs. Built on the hashgraph consensus algorithm, Hedera provides a foundation for developers to create decentralized applications with predictable performance.
Key features
- High throughput: Processes thousands of transactions per second
- Fast finality: Transactions finalize in 3-5 seconds
- Low, predictable fees: Transaction costs significantly lower than traditional blockchains
- Enterprise governance: Governed by a council of global organizations
- Energy efficient: Uses proof-of-stake with minimal environmental impact
For more information, please refer to the Hedera documentation
Hedera's EVM compatibility
Hedera offers full Ethereum Virtual Machine (EVM) compatibility, enabling developers to deploy and interact with smart contracts using familiar Solidity code and Ethereum tools. This compatibility layer provides the best of both worlds:
- Ethereum developer experience: Use standard Solidity and existing Ethereum tools
- Hedera's performance benefits: Leverage high throughput and low fees
- No lock-in: Your smart contracts work across EVM-compatible chains
High-level differences: Hedera vs. Ethereum
The following table highlights foundational differences that may affect your smart contract development workflow:
| Feature | Hedera | Ethereum |
|---|---|---|
| Consensus mechanism | Asynchronous Byzantine Fault Tolerance (aBFT), Proof of Stake (PoS) | Byzantine Fault Tolerance (BFT), Proof of Stake (PoS) |
| Transaction fees | Low and predictable fees | Variable gas fees; can be high during network congestion |
| Governance model | Governed by the Hedera Governing Council, comprising leading global organizations | Decentralized; governed by the Ethereum community |
| Native token | HBAR | ETH |
| Token standard | Supports ERC-20 and ERC-721 standards, with Hedera Token Service (HTS) for native token issuance and management without smart contracts | ERC-20 and ERC-721 standards for fungible and non-fungible tokens |
| Network state data structure | Virtual Merkle Tree | Merkle Patricia Trie |
| Historical data | Off-chain mirror nodes provide access to historical data and state queries | On-chain stateRoot; historical data can be accessed through the blockchain |
| Key management | Supports ED25519 (Hedera-native accounts), ECDSA (secp256k1), and complex keys (keylist and threshold) | Accounts are managed using ECDSA (secp256k1) keys |
| Network upgrades | Upgrades are proposed through Hedera Improvement Proposals (HIPs) and governed by the Hedera Governing Council. Upgrades are backward compatible, not forks. | Upgrades are proposed and implemented through Ethereum Improvement Proposals (EIPs) |
SettleMint's Hedera integration
SettleMint has built a complete, managed infrastructure layer that makes developing on Hedera's EVM as simple as developing on any other EVM chain:
- Fully managed infrastructure: No need to configure complex Hedera components
- Zero-setup JSON-RPC relay: Direct connection to Hedera through standard Ethereum interfaces
- Built-in mirror nodes: Query blockchain data through familiar APIs
SettleMint handles all the complexity of connecting to Hedera behind the scenes, allowing you to focus on your application's business logic rather than infrastructure.
Transaction flow: how it works
When you deploy or interact with a smart contract on Hedera through SettleMint, here's what happens:
This seamless flow enables you to use standard Web3 libraries, frameworks, and tools while benefiting from Hedera's performance and security.
Networks available in SettleMint
SettleMint provides access to both Hedera networks:
- Hedera mainnet: Production environment with real HBAR tokens
- Hedera testnet: Development environment with free test HBAR
For development and testing, always start with testnet. You can get free test HBAR from the Hedera Portal at portal.hedera.com.
Getting started with Hedera on SettleMint
To begin building on Hedera through SettleMint:
- Set up your SettleMint workspace and application
- Configure your Hedera network connection
- Add private keys and obtain HBAR
- Deploy your smart contracts with familiar tools
The subsequent guides will walk you through each step in detail.
When deploying your first contract to Hedera, you might experience slightly longer deployment times than on other EVM chains. This is normal due to the conversion between EVM and Hedera's native transaction format.