Hashgraph is an exclusive tool being adopted enormously by the masses in the decentralized world. Hashgraph offers an opportunity for the P2P transaction process that is faster and more secure. This technology is said to be the future of the decentralized world as it covers all the deficiencies of blockchain technology. Unlike, the miners in the blockchain technology who confirm the transaction, there are acrylic graphs that sequence the transaction without the need of separating them into blocks. The data is sent by one node to other participants which spread the information to the entire network.
Hedera Hashgraph has its own cryptocurrency named, HBAR. Some of the common uses of this technology are in the P2P systems, DApps, and making the network secure. Hashgraph uses the virtual voting and gossip about gossip protocol that accelerates the transaction process by handling thousands of transactions at a time.
Bitcoin certainly is the most popular currency but the increased use of this technology makes it slower in speed.
Hashgraph follows the virtual voting protocol where the nodes analyze if a certain transaction is validated or not. If two-thirds of the nodes confirm the transaction, the transaction gets validated. Based on different aspects of the nodes, the transaction is confirmed.
This protocol works exactly how it is named after. One node shares the original information with another anonymously selected node and then the second node does the same. This process does not stop until the information is reached all the nodes in the network.
Hashgraph uses the asynchronous BFT algorithm that provides the privilege to the participants to determine which one of the two transactions will be executed. After getting the consensus, the evidence of the transaction time will be known.
Hashgraph does not require using separate networks such as a public or a private network. It provides a highly secure platform with high performance. Moreover, this technology does not allow the users to interfere in the sequence of the transaction being occurred.
The Hashgraph distributed ledger is highly scalable as JAVA SDK is popular and easily understandable as compared to Solidity. The Hashgraphs are able to provide scalability for the transactions.