Hashgraph vs Blockchain

Blockchain technology is an incorruptible digital ledger of economic transactions. However, it can be programmed to record not just financial transactions but virtually everything of value. Information held on a blockchain exists as shared and is continually reconciled/updated. This ensures the records/data it holds are identical across the network and not stored in any individual location. As such, the blockchain cannot be controlled by any single entity. Second, it has no single point of failure.

Hashgraph, on the other hand, claims to support a superior data structure capable of solving many of the problems that the Blockchain community has been struggling with for some time like, consensus mechanism.

Until now, consensus technologies were classified into one of two categories:

Public networks (includes Bitcoin and Ethereum)
Private (solutions relying on Leader-based consensus algorithms)
Public networks are expensive to run and have performance constraints resulting from Proof of Work (agreeing to the order in which transaction can occur. This ensures money supply is constant and no one cheats). This narrows down the number of applications where such technologies can be practically employed.

Private networks, unlike, public networks restrict usage to known and trusted participants. This approach brings down the cost and improves performance dramatically, with algorithms capable of achieving 1000 transactions per second compared to seven for Bitcoin. That said, loopholes in the form of relaxed security standards make these networks potential targets to DDoS attacks.

Swirld’s’ Hashgraph algorithm overcomes these shortcomings as it requires neither Proof of Work nor a Leader. Moreover, it promises to deliver low-cost and good performance with no single point of failure.

It is this combination that makes Hashgraph a tool, worth trying.

Other advantages it offers over Blockchain

A new consensus algorithm based on superior distributed ledger technology. This eliminates the requirement for massive computation and unsustainable energy consumption like those of Bitcoin and Ethereum.

As mentioned earlier, Bitcoin is limited to 7 transactions per second. On the other hand, Hashgraph is 50,000 Times Faster: limited only by bandwidth — 250,000+ Transactions Per Second (Pre-Sharding)