Hashgraph is a distributed ledger technology that has been described as an alternative to blockchains.[weasel words] The hashgraph technology is currently patented, is used by the public ledger Hedera, and there is a grant to implement the patent as a result of the Apache 2.0's Grant of Patent License (provision #3) so long as the implementation conforms to the terms of the Apache license.[1] The native cryptocurrency of the Hedera Hashgraph system is HBAR.
Unlike blockchains, hashgraphs do not bundle data into blocks or use miners to validate transactions. Instead, hashgraphs use a "gossip about gossip" protocol where the individual nodes on the network "gossip" about transactions to create directed acyclic graphs that time-sequence transactions.[2] Each "gossip" message contains one or more transactions plus a timestamp, a digital signature, and cryptographic hashes of two earlier events. This makes Hashgraph form an asynchronous Byzantine Fault-Tolerant (aBFT) consensus algorithm.[3]
Hashgraph was invented in the mid-2010s by the American computer scientist Leemon Baird. Baird is the co-founder and chief technical officer of Swirlds, a company that holds patents covering the hashgraph algorithm.[4][5]
Hashgraph has been described as a continuation or successor to the blockchain concept, which provides increased speed, fairness, low cost, and security constraints.[6] The Hedera white paper co-authored by Baird explained that "at the end of each round, each node calculates the shared state after processing all transactions that were received in that round and before," and it "digitally signs a hash of that shared state, puts it in a transaction, and gossips it out to the community."[7]
Hedera Hashgraph
Hedera Hashgraph is the only public distributed ledger based on the Hashgraph algorithm.[8] Hedera Hashgraph is developed by a company of the same name, Hedera, based in Dallas, Texas.[8] Hedera was founded by Hashgraph inventor Leemon Baird and his business partner Mance Harmon, and previously had an exclusive license to the Hashgraph patents held by their company, Swirlds. The Hedera Governing Council voted to purchase the patent rights to Hashgraph and make the algorithm open source under the Apache License in 2022.[9]
It has been claimed that hashgraphs are less technically constrained than blockchains proper.[11][12]Cornell Professor Emin Gün Sirer notes that "The correctness of the entire Hashgraph protocol seems to hinge on every participant knowing and agreeing upon N, the total number of participants in the system," which is "a difficult number to determine in an open distributed system." Baird responded that "All of the nodes at a given time know how many nodes there are."[13] A hashgraph developer at the time noted that "...a node joining the network is a transaction like any other - it gets assigned a consensus timestamp, after which point all nodes now include it in consensus."[14]
References
^".NET Client Library for Hedera Hashgraph". GitHub. 18 August 2022.
^Tapscott, Don; Tapscott, Alex (2016). Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World. Penguin. ISBN9781101980156.
^Treiblmaier, Horst; Beck, Roman (2018). Business Transformation through Blockchain, Volume 2. Cham: Palgrave Macmillan. p. 98. ISBN9783319990576.
^"Can hashgraph succeed blockchain as the technology of choice for cryptocurrencies?", The Hindu, 25 March 2018
^"Hashgraph wants to give you the benefits of blockchain without the limitations", TechCrunch, 14 March 2018
^Panetto, Herve; Debruyne, Christophe; Proper, Henderik; Ardagna, Claudio; Roman, Dumitro; Meersman, Robert (2018). On the Move to Meaningful Internet Systems. OTM 2018 Conferences: Confederated International Conferences: CoopIS, C&TC, and ODBASE 2018, Valletta, Malta, October 22-26, 2018, Proceedings, Part 2. Cham: Springer. p. 281. ISBN9783030026707.
^Baird, Leemon; Harmon, Harmon; Madsen, Paul (13 August 2019). "Hedera: A Governing Council & Public Hashgraph Network" (PDF). Hedera. Retrieved 21 January 2019.
^ ab"How Hedera Hashgraph is building a fast and secure blockchain alternative", VentureBeat, 4 August 2018, retrieved 20 March 2021
^"Hedera Governing Council Votes to Purchase Hashgraph IP,…". Hedera. 19 January 2022.
^"Hedera Governing Council". Hedera Hashgraph. Retrieved 31 May 2021.
^"Can hashgraph unseat blockchain as the favoured tech for cryptocurrencies?", Live Mint, 20 March 2018
^"Next-Generation Crypto-Ledgers Take the Block Out of Blockchain". Bloomberg. Retrieved 24 February 2018.
^"Hedera Hashgraph Thinks It Can One-Up Bitcoin And Ethereum With Faster Transactions", Forbes, 13 March 2018
hashgraph, distributed, ledger, technology, that, been, described, alternative, blockchains, weasel, words, hashgraph, technology, currently, patented, used, public, ledger, hedera, there, grant, implement, patent, result, apache, grant, patent, license, provi. Hashgraph is a distributed ledger technology that has been described as an alternative to blockchains weasel words The hashgraph technology is currently patented is used by the public ledger Hedera and there is a grant to implement the patent as a result of the Apache 2 0 s Grant of Patent License provision 3 so long as the implementation conforms to the terms of the Apache license 1 The native cryptocurrency of the Hedera Hashgraph system is HBAR HashgraphOriginal author s Leemon BairdInitial releaseJuly 2017Repositoryhttps github com hashgraph TypeDistributed ledgerWebsitehedera wbr comUnlike blockchains hashgraphs do not bundle data into blocks or use miners to validate transactions Instead hashgraphs use a gossip about gossip protocol where the individual nodes on the network gossip about transactions to create directed acyclic graphs that time sequence transactions 2 Each gossip message contains one or more transactions plus a timestamp a digital signature and cryptographic hashes of two earlier events This makes Hashgraph form an asynchronous Byzantine Fault Tolerant aBFT consensus algorithm 3 Hashgraph was invented in the mid 2010s by the American computer scientist Leemon Baird Baird is the co founder and chief technical officer of Swirlds a company that holds patents covering the hashgraph algorithm 4 5 Contents 1 Concept 2 Hedera Hashgraph 3 Criticism 4 ReferencesConceptHashgraph has been described as a continuation or successor to the blockchain concept which provides increased speed fairness low cost and security constraints 6 The Hedera white paper co authored by Baird explained that at the end of each round each node calculates the shared state after processing all transactions that were received in that round and before and it digitally signs a hash of that shared state puts it in a transaction and gossips it out to the community 7 Hedera HashgraphHedera Hashgraph is the only public distributed ledger based on the Hashgraph algorithm 8 Hedera Hashgraph is developed by a company of the same name Hedera based in Dallas Texas 8 Hedera was founded by Hashgraph inventor Leemon Baird and his business partner Mance Harmon and previously had an exclusive license to the Hashgraph patents held by their company Swirlds The Hedera Governing Council voted to purchase the patent rights to Hashgraph and make the algorithm open source under the Apache License in 2022 9 Hedera is owned and managed by a governing council of global companies and entities The council s members include Swirlds as well as Google Boeing IBM Deutsche Telekom LG Tata Communications Electricite de France FIS University College London the London School of Economics DLA Piper Shinhan Bank Standard Bank ServiceNow Ubisoft Abrdn DBS Bank Dell and several others 10 CriticismIt has been claimed that hashgraphs are less technically constrained than blockchains proper 11 12 Cornell Professor Emin Gun Sirer notes that The correctness of the entire Hashgraph protocol seems to hinge on every participant knowing and agreeing upon N the total number of participants in the system which is a difficult number to determine in an open distributed system Baird responded that All of the nodes at a given time know how many nodes there are 13 A hashgraph developer at the time noted that a node joining the network is a transaction like any other it gets assigned a consensus timestamp after which point all nodes now include it in consensus 14 References NET Client Library for Hedera Hashgraph GitHub 18 August 2022 Tapscott Don Tapscott Alex 2016 Blockchain Revolution How the Technology Behind Bitcoin Is Changing Money Business and the World Penguin ISBN 9781101980156 Treiblmaier Horst Beck Roman 2018 Business Transformation through Blockchain Volume 2 Cham Palgrave Macmillan p 98 ISBN 9783319990576 Can hashgraph succeed blockchain as the technology of choice for cryptocurrencies The Hindu 25 March 2018 Hashgraph wants to give you the benefits of blockchain without the limitations TechCrunch 14 March 2018 Panetto Herve Debruyne Christophe Proper Henderik Ardagna Claudio Roman Dumitro Meersman Robert 2018 On the Move to Meaningful Internet Systems OTM 2018 Conferences Confederated International Conferences CoopIS C amp TC and ODBASE 2018 Valletta Malta October 22 26 2018 Proceedings Part 2 Cham Springer p 281 ISBN 9783030026707 Baird Leemon Harmon Harmon Madsen Paul 13 August 2019 Hedera A Governing Council amp Public Hashgraph Network PDF Hedera Retrieved 21 January 2019 a b How Hedera Hashgraph is building a fast and secure blockchain alternative VentureBeat 4 August 2018 retrieved 20 March 2021 Hedera Governing Council Votes to Purchase Hashgraph IP Hedera 19 January 2022 Hedera Governing Council Hedera Hashgraph Retrieved 31 May 2021 Can hashgraph unseat blockchain as the favoured tech for cryptocurrencies Live Mint 20 March 2018 Next Generation Crypto Ledgers Take the Block Out of Blockchain Bloomberg Retrieved 24 February 2018 Hedera Hashgraph Thinks It Can One Up Bitcoin And Ethereum With Faster Transactions Forbes 13 March 2018 Cooper Kunz tweet Twitter 14 August 2019 Retrieved from https en wikipedia org w index php title Hashgraph amp oldid 1159707459, wikipedia, wiki, book, books, library,
