{"id":1977,"date":"2020-05-04T06:51:19","date_gmt":"2020-05-04T09:51:19","guid":{"rendered":"https:\/\/coinyze.com\/?p=1977"},"modified":"2020-05-04T06:51:19","modified_gmt":"2020-05-04T09:51:19","slug":"what-is-hashgraph-and-why-is-important","status":"publish","type":"post","link":"https:\/\/coinyze.com\/en\/o-que-e-hashgraph-e-porque-e-importante\/","title":{"rendered":"What is Hashgraph and why is it important?"},"content":{"rendered":"

Before we get into what Hashgraph is, let\u2019s talk about what a blockchain is.<\/p>\n

<\/div>\n

A blockchain, simply put, is a chain of blocks sequentially linked together. Therefore, each block is directly connected to two other blocks, one preceding it and one following it.<\/p>\n

Specifically, in Bitcoin, there is the proof-of-work mechanism so that any miner who wants to publish a block builds it and uses a significant amount of computational resources to show that it is trustworthy.<\/p>\n

Furthermore, this mechanism ensures that only one block is published every ten minutes. Ethereum also follows a similar procedure, but a new block can be released every few seconds.
\nHere, when two miners publish a block at the same time, by consensus in the network, only one block will be accepted. Thus, wasting the efforts and energy of the left-out miner because he would not receive the block reward \u2013 an incentive to keep the miners working.<\/p>\n

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Read Also:<\/font> TOP: cryptocurrency mining sites<\/a><\/p>\n

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Hashgraph<\/strong> overcomes this problem. It allows any number of blocks to be published at a time. Furthermore, it does not use a proof-of-work mechanism.<\/p>\n

This means faster transaction confirmation \u2013 which is why Bitcoin is often condemned for being slow. However, the implementation of Lightning Network<\/strong> can change Bitcoin's scaling problem.<\/p>\n

Hashgraph<\/strong> Alone is a data structure plus a consensus algorithm. In other words, it defines how data should be stored, retrieved, and managed; and it specifies how a distributed network under its implementation should work.<\/p>\n

Unlike many cryptocurrency projects, which are mostly open source and completely free, Hashgraph is an intellectual property of Swirlds<\/a>
\n , a platform built for distributed applications.<\/p>\n

However, Bitcoin's free-to-use nature has given rise to many famous projects: Ethereum, Litecoin, and Zcash, all of which started out using Bitcoin's codebase and added extra features.<\/p>\n

Hedera Hashgraph HBAR<\/h2>\n

An open platform like Ethereum is being built using Hashgraph, which is nothing more than Hedera Hashgraph's HBAR coin. The platform will have three types of services to offer: cryptocurrency, file storage, smart contracts.<\/p>\n

Anyone can use the platform for free and without restrictions. One can maintain a full node and can get paid for it; however, some funds are required.<\/p>\n

In Hashgraph, a node only stores the balances of non-empty addresses. This way, storing large amounts of transactional data is not necessary.<\/p>\n

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Read Also:<\/font> TOP: sites to earn free cryptocurrencies <\/a><\/p>\n

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Conclusion<\/h2>\n

Hashgraph is a groundbreaking technology in the cryptocurrency space. Despite this, it is not open source and not everyone can experiment with the algorithm.<\/p>\n

Bitcoin and Ethereum have been around for a long time, and their reputations have been tested many times. That said, Hashgraph doesn\u2019t see much real-world use yet. Only then can we know how it\u2019s better. Otherwise, it would be a great technology without being an effective problem solver.<\/p>","protected":false},"excerpt":{"rendered":"

Before we get into what Hashgraph is, let's talk about what a blockchain is. A blockchain,\u2026 <\/p>\n

Read more\u2026<\/a><\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1977","post","type-post","status-publish","format-standard","hentry","category-dicas"],"_links":{"self":[{"href":"https:\/\/coinyze.com\/en\/wp-json\/wp\/v2\/posts\/1977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinyze.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinyze.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinyze.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinyze.com\/en\/wp-json\/wp\/v2\/comments?post=1977"}],"version-history":[{"count":0,"href":"https:\/\/coinyze.com\/en\/wp-json\/wp\/v2\/posts\/1977\/revisions"}],"wp:attachment":[{"href":"https:\/\/coinyze.com\/en\/wp-json\/wp\/v2\/media?parent=1977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinyze.com\/en\/wp-json\/wp\/v2\/categories?post=1977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinyze.com\/en\/wp-json\/wp\/v2\/tags?post=1977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}