Introduction
Hedera Hashgraph is a public distributed ledger that employs the innovative hashgraph consensus algorithm. Unlike traditional blockchain technology, hashgraph uses a directed acyclic graph (DAG) structure, which enhances transaction throughput and reduces latency. This technology was invented by Dr. Leemon Baird, who co-founded Hedera Hashgraph alongside Mance Harmon. Launched in 2018, Hedera aims to provide a scalable and secure infrastructure for decentralized applications (dApps).
Hashgraph Consensus Algorithm
The hashgraph consensus algorithm is designed to offer a fast, fair, and secure method for achieving consensus on transactions. It uses a “gossip about gossip” protocol, where nodes share information about transactions and their history, leading to asynchronous Byzantine Fault Tolerance (aBFT). This ensures that consensus can be reached even in the presence of malicious nodes. The algorithm’s efficiency allows Hedera to handle over 10,000 transactions per second, far surpassing traditional blockchain networks
