Atypical Blockchains vs Hedera Hashgraph whats the difference

Blockchain vs Hedera Hashgraph

Having started out as a foundation for cryptocurrencies, DLT has made significant headway over the past decade, spanning a number of other areas. Many people believe that the term DLT and Blockchain are the same thing, but this is a misconception. Blockchain is just the most famous example of this technology. However, now a competitor Hashgraph has appeared in the digital world.

Blockchain: Limitations of Smart Contracts

Smart Contracts are computer protocols or, more simply, computer code.

What is Blockchain?

Blockchain is the latest method of storing information about contracts or transactions in digital form. The revolutionary nature of blockchain technology is that it can be applied to any type of data. And the registry of this data will be stored in a large number of places, and not on a single server that hackers can hack. Thanks to thousands of data storage locations, we can talk about absolute data security.

What is Hedera Hashgraph?

The Hashgraph also refers to a distributed registry. However, the developers abandoned a clear sequence of blocks. A hashgraph records information non-linearly, meaning multiple blocks can be written at the same time. Thanks to the DAG, the hashgraph promises all the advantages of the blockchain with the solution of all its disadvantages, the main of which is the low speed of operations.

  • In a Hashgraph, the greater the number of network participants, the higher its throughput;
  • No need to perform complex and expensive calculations: 1 GB of memory is enough for transactions (after all, only transaction data is transmitted, not the entire network), and transactions are confirmed by several arbitrary participants-no need to use the entire network;
  • There is no mining and proof-of-work, which means that there is no competition between miners, artificial speed slowdown, and the need for expensive equipment;
  • Much less energy consumption (due to the lack of mining);
  • Virtually zero commission;
  • Resistant to DDoS attacks, botnets and firewalls;
  • The Hashgraph code is patented, which means that the project has greater legal stability.

How transactions are confirmed on Hedera Hashgraph

Blockchain is receiving a barrage of criticism and distrust for some of its “shortcomings”. In particular, for the speed of processing transactions, which is also slowed down by their confirmation algorithms. Hashgraph promises to solve all the problem points of the blockchain.

  1. You can also wait for the receipt to be received. It comes to you after the operation is completed.

Hedera Hashgraph Cryptocurrency

Search the HBAR exchanges if you want to purchase Hedera Hashgraph coins. The main task of the HBAR token is to ensure the operation of the project system. No one will be able to launch a node and use the technology’s capabilities without having this cryptocurrency in their account. It is also used for the payment of fees for the transaction confirmation.

FAQ

Who invented Hashgraph?

Dr. Lemon Baird created and patented Hashgraph. He is the founder of technology. This happened 5 years ago. And Hedera Hashgraph ICO was very successful already in 2018.

What does Hedera Hashgraph do?

Hedera Hashgraph has become a new milestone in the digital space. It can become an ideal alternative to the blockchain in the very near future. These days, Hedera Hashgraph can offer cryptocurrency, smart contracts and a file service.

Can you invest in Hashgraph?

Of course you can. First, you can purchase Hedera Hashgraph token tokens, which will increase in price in proportion to the increasing importance of the technology. How to buy a Hedera Hashgraph coin? This is very simple to implement on Godex.io if you have any other cryptocurrency. But first, get a Hedera Hashgraph wallet.

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