Hashgraph Hashgraph is a distributed ledger technology developed by Leemon Baird, the co-founder and CTO of Swirlds, in 2016. It does not use miners to validate transactions, and uses directed acyclic graphs for time-sequencing transactions without bundling them into blocks.
Hedera is a decentralized public network for you to make your digital world exactly as it should be – yours. Whether you’re a startup or enterprise, a creator or a consumer, Hedera goes beyond blockchain for developers to create the next era of fast, fair, and secure applications
Hedera Hashgraph is a continuation of Blockchain Technology and some also consider that it is a substitute to it. It is a first generation technology that is a reflection of severe speed, fairness, cost, and security constraints. The Hedera white paper co-authored by Baird explained that “at the end of each round, each node calculates the shared state after processing all transactions that were received in that round and before,” and it “digitally signs a hash of that shared state, puts it in a transaction, and gossips it out to the community.” Hedera Hashgraph is a public distributed ledger based on the Hashgraph algorithm which in 2018 raised $100 million at a $6 billion market cap.
Cornell Professor Emin Gün Sirer stated that “The correctness of the entire Hashgraph protocol seems to hinge on every participant knowing and agreeing upon ‘n’, the total number of participants in the system,” which is “a difficult number to determine in an open distributed system.” Baird responded that “All of the nodes at a given time know how many nodes there are.”
Bitcoin pioneered decentralized infrastructure and Ethereum brought programmability. But previous Proof-of-Work Blockchains consume huge amounts of energy and the time taken to process transactions is very slow, in order to achieve acceptable levels of security. Heavy bandwidth consumption by these technologies leads to expensive fees, even for a simple cryptocurrency transaction.
The Hedera proof-of-stake public network, powered by hashgraph consensus, achieves the highest-grade of security possible (ABFT), with blazing-fast transaction speeds and incredibly low bandwidth consumption. By combining high-throughput, low fees, and finality in seconds, Hedera leads the way for the future of public ledgers.
Cryptocurrency – ENABLE FAST, LOW FEE PAYMENTS
Cryptocurrency payments allow you to transact using hbars without intermediaries to lower costs and make complex payments simple with code.
Smart Contract – TOKENIZE AND EXCHANGE ASSETS
The tokenized economy will change how we define ownership. Use the Solidity language to create assets, perform atomic swaps, or interact with outside oracles.
File Service – SIGN AND VERIFY FILES
Create and manage files, with guaranteed visibility. File Service can act as a credentials revocation service and uniquely prove GDPR compliance.
Consensus Service – BUILD DIRECTLY ON HASHGRAPH
Write transactions at native speed for a scalable, cost-effective solution to manage exchange orders, audit logs, supply chain tracking, and endless possibilities.