Will Hedera Hashgraph soon rival blockchain to be the leading technology in the world of crypto? Blockchain may be the most well-known distributed technology at the moment, but there are still aspects it needs to improve on. Hedera Hashgraph believes it can fill in the gaps.

Could one beat the other?

Hashgraph is still fairly new and so doesn’t yet have the same level of support that blockchain does. However, over time, there is a possibility it could potentially exceed the capabilities of blockchain technology. Whether it will is a different question.

Key differences in consensus

Blockchain is a distributed ledger which is coded to record transactions. However, Hashgraph claims to support a more superior data structure. This structure is meant to be capable of solving the consensus mechanism, a leading problem blockchain is currently facing.

Blockchain relies on proof-of-work, where every node must agree on the order of transactions that have occurred. This narrows down the number of potential applications for blockchain.

In comparison, Hashgraph relies on the consensus algorithm to overcome shortcomings. Hashgraph implements a gossip protocol, which is something blockchain does not do. This is where nodes exchange data with other nodes to build the Hashgraph data structure. They do this by distributing signed information about current and past transactions to random neighbours. The neighbours then process this information and send it to other nodes. This process is then continued until every node gets the new information.

Want to know they key differences between Hedera Hashgraph and blockchain? Head over to Coin Rivet to access the full article. 

 

 

 

 

 

 

 

 

 

 

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