Explanation of the key differences between Hashgraph and traditional blockchain technology:
When we talk about new technology, everyone looks at blockchain, and crypto references to it, but there are also cryptos, references to other similar technologies.
Consensus Algorithm:
Blockchain: Most blockchains use consensus algorithms like Proof of Work (PoW) or Proof of Stake (PoS). These algorithms often require significant computational power or stake to validate transactions and secure the network.
Hashgraph: Hashgraph uses a different consensus algorithm, also known as Hashgraph. It doesn't rely on mining or staking and claims to achieve consensus more efficiently through a gossip about gossip protocol.
Speed and Scalability:
Blockchain: Blockchains often face scalability challenges, resulting in slower transaction processing times as the network grows. Transactions are typically confirmed in blocks at regular intervals.
Hashgraph: Hashgraph claims to offer higher transaction throughput and lower latency compared to many blockchains. Its design allows for faster consensus and potentially greater scalability.
Structure:
Blockchain: Transactions in a blockchain are organized into blocks, and each block is linked to the previous one, forming a chain. This sequential structure can impact the speed of transaction confirmation.
Hashgraph: Hashgraph uses a directed acyclic graph (DAG) structure, where transactions are linked in a more complex graph rather than a linear chain. This structure can potentially lead to faster transaction confirmation.
Governing Model:
Blockchain: Blockchains often have decentralized governance models, relying on consensus mechanisms and community decisions.
Hashgraph: Hashgraph introduces a Governing Council, consisting of selected organizations, to oversee the platform's development and governance. This differs from the fully decentralized model often associated with blockchains.
Security:
Blockchain: Blockchains achieve security through mechanisms like hashing, consensus algorithms, and decentralized validation.
Hashgraph: Hashgraph claims to achieve security through its unique consensus algorithm, which includes gossip about gossip and virtual voting.
Fairness and Asynchronous Byzantine Fault Tolerance (ABFT):
Blockchain: Achieving asynchronous Byzantine Fault Tolerance (ABFT) in a blockchain can be challenging.
Hashgraph: Hashgraph claims to provide ABFT, a property that ensures consensus even in the presence of malicious actors, without relying on synchronized clocks.
Tokenomics:
Blockchain: Many blockchains have native tokens used for transaction fees, staking, or governance.
Hashgraph: Hashgraph has its native cryptocurrency, HBAR, used for transaction fees and securing the network.
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HEDERA HASHGRAPH
Hedera Hashgraph, often simply referred to as Hedera, is a decentralized public ledger technology that aims to provide a secure and efficient platform for building decentralized applications (DApps) and enterprise solutions. Launched in 2018, Hedera is distinguished by its unique consensus algorithm and governance model.
Key Features:
Security and Stability:
The platform emphasizes security and stability as critical components of its design. By using a directed acyclic graph (DAG) structure, Hedera aims to ensure transaction integrity and security.
Government council:
Hedera's governance model includes a unique feature called the Governing Council. The council, made up of global organizations from various industries, is responsible for overseeing the development, stability and decentralization of the platform.
Hedera Token (HBAR):
Hedera issues its native cryptocurrency, HBAR, which serves as fuel for transactions and smart contracts on the network. HBAR can be used for micropayments and its value is influenced by market supply and demand.
Smart contracts:
Hedera supports smart contracts, allowing developers to create decentralized applications on its platform. The goal is to facilitate a wide range of use cases, from supply chain management to finance.
Use cases:
Hedera Hashgraph is designed to serve various industries and use cases, including:
Finance and Payments: Hedera aims to provide a platform for fast and secure financial transactions.
Supply Chain Management: Platform features can be leveraged to improve transparency and traceability in supply chain operations.
Identity management: Hedera's security features make it suitable for identity management solutions.
TA for HBAR
Without forgetting that we are in the crypto spring, in my opinion, the price is making a long-term upward movement, in its beginnings.
Have HBAR in your portfolio? Personal decisions, but it can be a very good diversification option.
Analyzing a price always has its risks, but in the case of HBAR, it is generally quite friendly, in our view.
It has made a bullish channel, with point 4 in support (points 2 and 3 have been in resistance) and from there, and accompanying the general crypto movement of recent months, it has gone up.
Pay attention now because it could perhaps make an LH (low high) movement, looking for continuation support, as a guarantee, to continue rising.
This content is for informational and educational purposes. There is no consumer protection. Your capital is subject to risk. It is not a recommendation to buy or sell crypto assets. Please do your own research or contact your trusted financial advisor.
Jesús Sánchez Bermejo
