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Hedera Hashgraph Development: The Future of Digital Ledger Technology blockchaindevelopments.io
Topics to be Covered Introduction Hashgraph Blockchain
Hashgraph Vs. Blockchain
•An Insight into Hashgraph
•Hashgraph The Future of Decentralized Technology.
The evolution of technology has given us numerous innovations in every field. One of these innovations with immense potential is cryptocurrency. Cryptocurrency is entirely based on digital transactions the records of which are maintained using Digital Ledger Technology (DLT). DLT has paved the way for further significant technologies such as Blockchain and most recently, Hashgraph.
HashGraph
Blockchain
Protocol on which nodes can inform other randmoly selected nodes about recent transactions,Passing these on until the whole network is aware of Changes.
There are two common Protocol: Proof of Work .Create a new block if they solve a mathamtical puzzle correctly. reciving a reward in the process.
Blockcha in vs. Hashgra ph
Blockchain is a decentralized f o rm o f D LT w h e re i n f o rm a t i o n re g a rd i n g t r a n s a c t i o n s i s t r a n s f e rre d t h ro u g h b l o c k s , e a c h l i n ke d t o t h e p re v i o u s . O n e o f t h e ke y a t t r i b u t e s o f blockchain is that it is a decentralized technology not c o n t ro l l e d b y a n y s i n g l e e n t i t y or network. D e v e l o p e d a s a n a l t e rn a t i v e t o b l o c k c h a i n a c c o rd i n g t o s o m e ex p e r t s , H a s h g r a p h w a s
An Insight into Hashgraph D e v e l o p e d a s a w a y t o o v e rc o m e c e r t a i n s h o r t c o m i n g s o f blockchain and better the consensus algorithm of said D LT , h a s h g r a p h i s a n a l g o r i t h m . I t i s s a i d t o b e a m o re s e c u re , t r a n s p a re n t and faster way to achieve distributed consensus. One of the major limitations of Blockchain, the Byzantine G e n e r a l s ’ Pro b l e m i s w h a t l e d t o t h e d e v e l o p m e n t o f h a s h g r a p h w h i c h s p e c i fi c a l l y s o l v e s t h i s p ro b l e m . A s p e r t h e p ro b l e m , e v e n i f a s i n g l e m e m b e r d o e s n o t p ro v i d e c o n s e n s u s t h e w h o l e t r a n s a c t i o n s c a n b e m o d i fi e d
An Insight into Hashgraph
H a s h g r a p h s p e c i fi c a l l y s o l v e s t h i s p ro b l e m . I t c o n s i s t s o f t w o m a i n t e c h n o l o g i e s n a m e l y t h e g o s s i p p ro t o c o l a n d t h e v i r t u a l voting algorithm to gain consensus. Whenever a transaction is i n i t i a t e d , i n f o rm a t i o n i s p a s s e d t h ro u g h t h e n o d e s u s i n g t h e g o s s i p p ro t o c o l . B a s e d o n t h i s , t h e t r a n s a c t i o n i s a p p ro v e d o n c e c o n s e n s u s i s re c e i v e d u s i n g t h e v o t i n g a l g o r i t h m . O n e o f t h e w a y s i n w h i c h h a s h g r a p h i s m o re s e c u re i s t h a t i t i s a p r i v a t e a n d p a t e n t e d D LT w h e re e v e r y t r a n s a c t i o n g o e s t h ro u g h t h e m a i n s y s t e m a n d v e r i fi e d b e f o re t h e i n f o rm a t i o n i s p a s s e d o n u s i n g t h e g o s s i p p ro t o c o l . Â I n o rd e r t o f u r t h e r t h i s t e c h n o l o g y a n d ex p a n d h a s h g r a p h
Hashgraph The Future of Decentralized Technology. A Decentralized Platform without servers built on Hashgraph technology will enable blockchain usecases to run:
Hashgraph The Future of Decentralized Technology.
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