Comparison Between Hashgraph Technology Vs Blockchain Technology

Comparison Between Hashgraph Technology Vs Blockchain Technology

• In Hashgraph, the security of the network is as as a result of Asynchronous Byzantine Fault Tolerance. While in blockchain, the security of the network is as a result of cryptographic methods.

• In Hashgraph, the gossip about gossip protocol ensures faster transactions. This can process about five hundred thousand TPS. While in blockchain, the protocol that is used greatly influence the transaction speed.

• In Hashgraph, consensus on the network is reached through virtual voting mechanism. While In Blockchain, consensus on the network is reached using various consensus mechanisms like the popular ones such as proof of work and proof of stake.

• In Hashgraph, of resources are wasted simply because all the events that are gossiped about the network reversed. While in blockchain, only a single block is needed when there are two mined blocks at the same time.

• In Hashgraph, accessing and storing information is done using directed acyclic graph for accessing. While in blockchain, information is stored on blocks.

• In Hashgraph, data cannot be tampered which makes it tamper-proof. This enhances security and ensures integrity of data on the network.

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Why I Think The Hashgraph is a Better Technology for Country Voting Process

In my opinion, I would choose the hashgraph technology for voting in my country because of the advantages of the hashgraph over blockchain. When it comes to voting process in my country, integrity of voting data is very important. That is why I would prefer the hashgraph because data on the network cannot be changed or manipulated and this ensures the integrity of data. Also, Asynchronous Byzantine Fault Tolerance ensures the security of the hashgraph network. Using the hashgraph technology for voting process is great because consensus can still be reached even if malicious actors have control of the network. Faster transactions of the hashgraph is also another reason why I would choose the hashgraph technology for voting process. Efficiency is another reason why I would choose the hashgraph. In any voting process, efficiency is very important.

The Hedera Hashgraph

The Hedera Hashgraph is one of the most popular distributed ledgers that it is getting the recognition it deserves. It is a great alternative to the already popular blokchchain technology. When it comes to distributed ledger, the hashgraph is simply an innovative technology that provides speed, security, stability, efficiency and governance. To explore the Hedera Hashgraph, we have to visit the hedera website at https://hedera.com

The Hedera Hashgraph website is made up of different sections and elements in the navigation bar. The first section is the network section. In the network section, there are services such as token service and consensus service, and information. The token service is the service for minting new tokens and configuring tokens on hashgraph. The consensus service is the service for governace like ordering of events and verifiable timestamps. The information category has the information for building on hedera, explorer and dashboards.

The second section is the devs. Inside the devs section, there is the tooling category and resources category. The tooling category has the necessary dev tools like Docs and SDks. The resources category has the necessary resources like plugins and information about open source, fees and learning center.

The next section is the use cases section. Inside the use cases section, there are various elements such as payments, fraud mitigation, data compliance, tokenized assets, identity, and permissioned blockchains. The other category has the different use cases for hedera. At the moment, hedera can be utilized in various industries like health, gaming, business etc.

The next section is the HBAR section. HBAR is the token of the hedera hashgraph. In the HBAR section, there is overview which gives the overview of the HBAR cryptocurrency, account creation which is for creating instant accounts on the mainnet, and wallet and exchanges which is the supported HBAR wallets and exchanges that listed HBAR.

HBAR has a marketcap of $2,017,795,842, fully diluted marketcap of $11,779,065,317, 24hr volume of $274,859,291, circulating supply of 8.58Billion HBAR and a total and max supply of 50,000,000,000 HBAR.
HBAR listed exchanges are, Binance, Binance US, huobi, OKEX, Gate.io listed HBAR. For HBAR wallet, most of the top wallets can hold HBAR. Wallets like Trust wallet (mobile wallet), Atomic wallet, exodus wallet, coinomi wallet, guarda wallet (mobile and desktop wallet) and more, are great and secure wallets to store HBAR.

The next section is the about section. Inside the about section, there are information about the hedera team, the project journey, the project roadmap, the blogs and news and contents concerning the project.

Conclusion

The Hedera Hashgraph is an amazing project that has has great potential to be the alternative to blockchain technology. The Hashgraph technology already offer a lot of advantages like faster transactions, security, efficiency, governance, scalability, making it a great solution for a lot of industries. We can already see the usecases and how beneficial hashgraph technology can be when it comes to voting process of countries. I have to say, the hashgraph is an amazing innovation as far as distributed ledger is concerned, and for me, it would continue to grow and gain more use cases.