Hedera Hashgraph is recently getting more attention from crypto world ,not because its new coin which launched in 2019 sept but because of new technology on Hashgraph consensus algorithm. Hedera Hashgraph is simply works Gossiping consensus where not any complication created like bitcoin (need huge machinery for mining or waste of electricity )but simply can work with gossip, means your whole transactions takes less than 3 seconds to deliver and its not needed for bundling all the transaction in blocks but its follow time routine with same country where the transaction been generated and settled in direct acrylic graph .
To understand more about Hedera hashgraph then please watch this video.
Dr Leemon Baird , Co-founder and chief Scientist of Hedera HashGraph has said that Hedera is a public distributed ledger technology which is completely works on Gossip algorithm among all the nodes and where virtual voting pattern followed to secure the network with high security with its fairness and performance.
The Hedera is proof of stake public network which is powered by Hashgraph consensus,has brought new concept which is more faster , secured and scalable .
Transaction per seconds: 10,000+
Average transaction fees : $0.0001
Transaction confirmation time: 3-5 seconds .
Hedera network is made for :
- Consensus service : build directly on Hashgraph related application, asset tracking.
- CryptoCurrency: can make payment related cryptocurrency ,Fast and secure with lowest fee with complex code .
- File Service: Different file format can be directly managed with guaranteed visibility through consensus algorithm with full confidentiality .
- Smart Contract: Can create your own asset token on Hedera Hashgraph Smart contract
Hashgraph and Blockchain comparison:
Hashgraph: 1. New technology for data structure in public distributed ledger consensus .
2. It fundamentally achieve Trust from single Users in the community for transaction settlement.
3. container(block) is optional and every transaction is accepted without delays .
4. All the User transaction container are kept in the hashgraph ledger without discarded.
5. Hashgraph does not require any kinds of fork also allows mathematical guarantees like byzantine agreement and fairness.
6. HashGraph powered by DoS Resistant , TimeStamp, Fair, Fast ,ACID( Atomicity, Consistency, Isolation, Durability )Compliant , Efficient and inexpensive .
Blockchain: 1. Its like Tree where you need to cut all the branches once it grows block-wise to let the ledger set in main block in the chain.
2. If more than 1 block produced in chain then the top nodes need to discard one of the block to maintain the single and legitimate blockchain Thats why There are proof of work and other mechanism been set to slow down the block generation .
3. Blockchain only and only can work through block (container) to carry your transaction where Miner will choose manually about which transaction should clear first .
4. Blockchain can be forked to create new blockchain.
5. Blockchain has no such thing like Byzantine or fairness protocol.
Hedera Hashgraph Dapps and other smart contract project :
Hedera consistently working on its deveopment and so far has reached to acquire most reputed fields which are directly related with cyber space , Non-profit organisation , Technology and communication
some example:
- Google Cloud
- IBM
- Tata Communication
- SwissCom Blockchain
- UCL
- Wipro
- Swirlds
How to buy and trade Hedera HashGraph
Hedera is currently being traded on following exchanges :
- Binance
- upbit
- Okex
- Okcoin
- Gate.io
- Bittrex
- Hitbtc
- VCC exchange
- Coinex
- Liquid
How to become Transaction/Ledger validator on Hedera Hashgraph:
Hedera runs its own portal where simply you need to sign up and settle your KYC then download the app from android or IOS and connect your wallet and just become the Node through your mobile or computer to validate any distributed ledger on gossip protocol consensus .
Future of HashGraph
Hashgraph is the future of all decentralised contents and ledger transaction and it keep behind blockchain technology because of its unique feature and specification.Nowadays Bitcoin blockchain and Ethereum is not good option for suggestion as its takes lots of mechanism complexity to run the simple transaction and programming.
Hashgraph is being adopted widely by every technological fields in which the major project is about Google Cloud and so on is on the way to adopt.
Resources:
https://coinmarketcap.com/currencies/hedera-hashgraph/historical-data/?start=20130429&end=20200522
https://en.wikipedia.org/wiki/Hashgraph
