Hey guys, here is a breakdown of the most controversial technology of recent times, answering all the popular questions!

Hashgraph VS blockchain in one quote

Most of you may already know the difference between blockchain and hashgraph. To summarise it briefly, we can outline Hedera with a quote from writer Rachel Hoffman:

It’s quite strange to look at the chaos and think: ‘Oh, there’s clearly a perfectionist living here’. But it’s quite typical.

Hedera really may look like chaos, with a perfectionist lurking in it. Hedera’s acyclic method promises all the benefits of blockchain but excludes low transaction speeds.

Though when it comes to speed, the Gossip protocol comes into the game. It can handle up to 10,000 transactions per second, with verification occurring instantaneously. A technical feature of the protocol is that as the number of nodes in the network increases, they increase the effective processing power of the network.

Gossip, Gossip, Gossip = Protocol?

To circumvent the mining structure, Hashgraph uses a consensus protocol based on virtual voting. This system, in turn, is supported by its information transmission system, called the Gossip Protocol. The origin of the Gossip Protocol stems from the replication algorithms described by Demers Alan, Green Dan, Hauser Carl, Irish Wes, Larson John, Schenker Scott, Sturgis Howard, Swinhart Dunham, and Terry Doug in their study “Epidemic algorithms for a replicated database. Maintenance” dated 1987. This work is vital to the development of these... learn more.

Hashgraph Transaction Cycle

For a more detailed understanding, the whole Hashraph cycle needs to be deconstructed. Understandably, the process can seem quite complicated, so let’s go step by step:

• Network members (nodes) exchange data using the Gossip protocol
• The transaction data is sent to two random nodes, which are then forwarded to two more random nodes, and so on exponentially until there are enough confirmations to approve the transaction. (The system can be said to look like the Tor browser shell, with an encryption process that works in a very similar way.)
• Nodes begin exchanging transaction data (by the way, in a blockchain network, all information on the network is exchanged.) Along with the process, the information is not stored in blocks, but in hashes. This allows the data to be exchanged much faster.
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Hedera And Hedera Hashgraph Technology

Hedera has its origins back in 2012 when Dr. Leemon Baird first began developing his algorithmic model. He aimed to find a revolutionary approach to scalability problems and find a golden middle in distributed consensus security. By the way, Baird was a professor of computer science at the US Air Force Academy and holds a Ph.D. in computer science. Baird was also co-founder and CTO of identity management companies: Trio Security and BlueWave Security. For four years, he worked diligently on his brainchild, leading to the first technical documentation.

The document was published in 2016, and was called: “Hashgraph Consensus: Fair, Fast, Byzantine Fault Tolerance”. From the title, it can be inferred that it tried to find a solution to the Byzantine fault tolerance (Explanation: Byzantine fault tolerance is a condition of a computer system, particularly distributed computing systems, where components may fail and there is imperfect information on whether a component has failed. The term takes its name from an allegory, the “Byzantine Generals Problem”, developed to describe... Learn more!

More in the article

• Hedera + Hashgraph = Hedera Hashraph?
• Why consider Hashgraph?
• Hashgraph transaction cycle
• I like Hedera and I want to use it. What should I do, to begin with?
• The programming languages used by Hashgraph

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