Have you ever wondered what Hashgraph is?
Since 2008, the spotlight is on the concept of a distributed ledger and hashgraph is the new entrant to the decentralization world. Hashgraph visualizes a fresh and enhanced peer-to-peer computing model that will harness its power to an unprecedented level. As we transit from client-server to a new trust layer for the internet, the hashgraph will solve the impediments to efficiency, scalability, and interoperability. In addition, hashgraph plans to solve Byzantine Generals Problem using Asynchronous Byzantine Fault Tolerance.
The Hashgraph network is currently private and restricted. It is being used for commercially viable solutions. Sybil attacks are prevented by the hashgraph's natural protection from Sybil attacks because it has prior knowledge about the identities and nodes. Consensus mechanisms will account for all maliciousnesses and preserve the overall throughput.
Features
Gossip Protocol
Hashgraph is involved in the gossip protocol, also known as an epidemic protocol. This protocol allows for computer-computer communication. These protocols are based on the way social networks distribute information.
Virtual Voting
Hashgraph follows virtual voting. A node can view its hashgraph and examine other nodes to vote for another node. When two-thirds or more of the nodes within the network are witnesses, the nodes are considered to be in consensus.
Increased Throughput
Hashgraph's throughput is incredible. Hashgraph can perform transactions up to 50,000 times faster and can process more than 250,000 transactions per second in one single shard. Hashgraph is extremely fast, taking only seconds to send transactions.
Better Security
Asynchronous Byzantine fault-tolerant (asynchronous) is the consensus algorithm for hashgraph. It allows the community to decide the execution precedence between two transactions within a network. When consensus is reached, mathematical proof of the time exists.
Increased fairness
Hashgraph allows fair ordering and fair timestamps. Fair ordering allows for priority orders based on the time of order. Fair timestamps also foster trust in the whole community, not just one miner.
Scalable
Distributed Ledger Technology (DLTs), which is used in the hashgraph, is extremely scalable because the Java Software Development Kit(SDK) is easier to use than solidity. These enable the hashgraph's scalability in terms of bandwidth and transactions.
