Blockchain Just Became Obsolete. The Future is Hashgraph | Squawker
Author: Justin Danneman
Description: Hashgraph is 50k times faster, safer, much more inexpensive, and achieves consensus ....
Date: 2017-10-25T21:48:33+00:00

Squawker

- Technology

# Blockchain Just Became Obsolete. The Future is Hashgraph

By
Justin Danneman
-
October 25, 2017
186

Swirlds is a software platform that has developed the hashgraph consensus algorithm: an entirely new distributed ledger technology that is much more cost-effective (no proof-of-work), 50,000 times the speed, safer (Byzantine), more efficient (no stale blocks) and mathematically fairer than the blockchain.

This is the future of the internet and decentralized technology.

……

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What is Blockchain Technology?

Considered the greatest technological innovation since the internet: Blockchain technology emerged in response to the collapse of several banking institutions in 2008 with the release of a whitepaper by Satoshi Nakamoto titled: “Bitcoin: A Peer-to-Peer Electronic Cash System.”

“…blockchain technology facilitates peer-to-peer transactions without any intermediary such as a bank or governing body …”

– Don Tapscott

Blockchain is simply a database that is public (no one owns it), distributed (no centralized server), is continuously updated, and is secured by the art of cryptography.

This is why Jamie Dimon is freaking out. Banks will soon be obsolete.

What is Hashgraph and Why is it Better?

Hashgraph is a superior distributed ledger technology system that eliminates the need for massive computation and unsustainable energy consumption like those of Bitcoin and Ethereum.

Most importantly, it is able to reach a consensus. (I’ll explain why this is so critical)

- 50,000 Times Faster: limited only by bandwidth – 250,000+ Transactions Per Second (Pre-Sharding)

As of now Bitcoin is limited to 7 transactions per second.

- More Fair: mathematically proven fairness (via consensus time stamping) meaning no individual can manipulate the order of the transactions.

In the blockchain world, a miner can choose the order for which transactions occur in a block, can delay orders by placing them in future blocks, even stop them entirely from entering the system.

Consensus time stamping prevents an individual from affecting the consensus order of transactions.

Once an event occurs, everyone knows about it within a couple of minutes. Only the effects of the transaction are necessary in storing, everything else can be discarded. This shrinks the amount of storage currently needed (Bitcoin: 60GB) to a fraction of 1GB, allowing a smart phone to now act as a node.

- Improved Security: Asynchronous Byzantine Fault Tolerant: No member can prevent the community from reaching a consensus, nor can they change the consensus once it has been reached.

With Byzantine, a consensus can be reached, whereas in the blockchain world, it is only a probability that increases over time.

If no consensus is ever reached, conflicts will always occur. This is why hard forks that result in alt coins, such as Bitcoin Cash and Bitcoin Gold are occurring.

- 100% Efficient: No mined block ever becomes stale.

In the blockchain, transactions are put into containers (blocks) that form a single, long chain. If two miners create two blocks at the same time, the community will eventually choose one and discard the other.

In hashgraph, every container is used and none are discarded.

- Inexpensive: avoids proof-of-work (PoW), meaning it does not have to waste computations to slow itself down, therefore the expensive, custom hardware is no longer necessary.

In the blockchain, if new blocks arrive too quickly they can be discarded. This is why Bitcoin is currently PoW, as this artificially slows down the mining process – hence the expensive hardware needed to mine.

With hashgraph, every member can create transactions and containers whenever they want.

Update: A message left by the Hashgraph team that explains a bit better on how their platform technically works:

Note that we are our own consensus algorithm. While Ethereum is looking at PoS with Casper, our algorithm uses something called Virtual Voting – its a voting system – without having to do the votes. Hashgraph uses a protocol called “Gossip about Gossip” to achieve consensus. Gossip is a well known computer science term, which can be defined as calling any random node and telling that node everything you know, that it does not know. In distributed ledger technology the “baseline” or minimum bandwidth required is that the transactions go to every node. Gossip about Gossip refers to attaching a small additional amount of information to this Gossip, which contains the last person we talked to, hence, we are gossiping about the information we gossiped. Using this information, we can build the Hashgraph. Once we have the Hashgraph, it is extremely easy to know what a node would vote, because we know what each node knows, and when they knew it. We now can use the data from the Hashgraph as an input to 30 year old voting algorithms, and achieve consensus essentially for free. These 30 year old voting algorithms have strong math proofs- they are Asynchronous Byzantine Fault Tolerant, which means we know when we will achieve consensus, guaranteed, and our math proofs make no assumptions about the speed of the internet, due to firewalls, ddos attacks, viruses or botnets. In addition, because of gossip about gossip, Hashgraph is extremely fast, (250,000 transactions/sec), and we also get fair ordering and time stamping on every event.

Central banks were losing with blockchain.

Hashgraph is a missile in the coffin.

Get involved with the Hashgraph community on Telegram if you wish to learn more.

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- ScrapperTL

  Justin, fantastic cutting edge and informative article <— all things that I've come to expect from your many entertaining works.
  Please, how can the average person begin investing in Hashgraph technology?
  Sincerely,
  STL

  - Justin

    Appreciate the feedback!

    As of now you can really only take advantage of this technology if you know how to code and are interested in writing your own apps:

    http://www.swirlds.com/download/

    After I wrote this, I did notice a correlation between this tech and Ethereum … Ethereum is moving to proof of stake whereas Bitcoin for now is staying proof of work. If blockchain dies Bitcoin may die with it, whereas Ethereum would be perfect for Hashgraph .. something to pay attention to

    - Hashgraph

      Justin, thanks for the write up!! Note that we are our own consensus algorithm. While Ethereum is looking at PoS with Casper, our algorithm uses something called Virtual Voting – its a voting system – without having to do the votes. Hashgraph uses a protocol called “Gossip about Gossip” to achieve consensus. Gossip is a well known computer science term, which can be defined as calling any random node and telling that node everything you know, that it does not know. In distributed ledger technology the “baseline” or minimum bandwidth required is that the transactions go to every node. Gossip about Gossip refers to attaching a small additional amount of information to this Gossip, which contains the last person we talked to, hence, we are gossiping about the information we gossiped. Using this information, we can build the Hashgraph. Once we have the Hashgraph, it is extremely easy to know what a node would vote, because we know what each node knows, and when they knew it. We now can use the data from the Hashgraph as an input to 30 year old voting algorithms, and achieve consensus essentially for free. These 30 year old voting algorithms have strong math proofs- they are Asynchronous Byzantine Fault Tolerant, which means we know when we will achieve consensus, guaranteed, and our math proofs make no assumptions about the speed of the internet, due to firewalls, ddos attacks, viruses or botnets. In addition, because of gossip about gossip, Hashgraph is extremely fast, (250,000 transactions/sec), and we also get fair ordering and time stamping on every event.

      - Justin

        I added this comment in the article as I’ve been getting several questions that your reply definitely answers. Keep up the good work!

        - Hashgraph

          Thank you @disqus_sjDi9QsLfz:disqus – If you join our telegram please send me a PM! – @kylearmour

      - grasshopper_fxl

        yes, hashraph is fast. but the Red Belly non-forkable blockchain protocol has you beat on that one. they achieve 600,000 tx/sec. so apparently there is no need for a DAG to get higher throughput and at least just as good security. what do you say to that?

        - Hashgraph

          I wish I could give you an exact answer from Leemon himself, because he has mentioned it is no threat. From what I recall, Red Belly is an entirely sharded system. It’s a bit of a mess. Have you read their whitepaper? I am taking a look now… Feel free to join us on http://t.me/hashgraph would love to chat with you more about it. I would also say that smply providing the number of transactions per second is meaningless unless all of the details are provided as well: number of nodes, bandwidth, latency, CPU, size of transaction, etc. Our performance results will provide the details needed to characterize results for a range of settings.. I am unaware of any live environments for Red Belly.. Do you know any?

        - grasshopper_fxl

          not aware of any live environments. agree with you–it’s a bit facile to just throw a tx/sec number out there like this. nonetheless, their white paper claims a leader-, randomization-, and signature-free protocol and it provides a proof for eventual synchrony. here’s their benchmark page: redbellyblockchain.io/Benchmark.html

          but what makes you say it’s ‘a bit of a mess’?

  - Hashgraph

    Please join our Telegram channel http://t.me/hashgraph or reach out to contact@hashgraph.com

- Andy Vanellus

  I must say, that name is terrible – Swirlds…. compare it to beautiful IOTA.
  Just a note….consider rebranding and redesign.

  - Hashgraph

    @andyvanellus:disqus We are quite happy with Swirlds. Please note Swirlds is the company that is handling the enterprise / permissioned based networks and is not a public ledger.

  - grasshopper_fxl

    LOL IOTA! those guys need to get their shlte, and math, together. otherwise it’s going to remain all hype.

- Carsten Buchholz

  Its not open source (only the demo apps) – so its neither secure nor one can verify the strong marketing claims you make…
  Providing an SDK is a centralized solution, not open source.
  Nor is it decentral.

  - Hashgraph

    @carsten_buchholz:disqus Hi Carsten. We apologize for the early marketing claims, but we are confident they are true. We will be publishing third party speed reviews and other peer-reviewed articles in the coming weeks. Hashgraph will be open-review. I’d be happy to address this in more details in our Telegram chat: http://t.me/hashgraph Thank you

    - Can Hicabi Tartanoglu

      What? After skimreading this article, I read you aren’t open source :O

      - Hashgraph

        Hi Can. Thanks for the reply. Keep in mind there is no announcement of a public ledger or cryptocurrency. I hope you will join us on Telegram, however. http://t.me/hashgraph

        I have included some information for you to hopefully understand what open review means.

        What Does Open Review Mean?

        Open review means that anyone can review and critique the entire codebase – i.e. it is fully transparent. Moreover, suggestions can be made (and are indeed encouraged) for changes to the code base. This is thus similar to open source, except that you cannot use the technology in certain ways without approval (e.g. building another public ledger based on the Hashgraph or profit from selling Hashgraph to Companies). Note that anyone will be able to build applications / decentralized applications on the general ledger without license fees.

        Why is Hashgraph Licensed/Patented?

        Here is the basic guidance on the Hashgraph license and patent.

        1) Open Review. A public ledger would be open review, meaning that like open source, anyone can review the code base and submit / recommend changes. What you cannot do is use the technology for unapproved uses (e.g. by building another public ledger based on the Hashgraph or selling Hashgraph as your own solution to Companies). However, as the codebase will be open, suggestions from the community regarding changes to the codebase will be encouraged and most likely rewarded. Importantly, for a public ledger, any person will be able to build vertical applications / decentralized applications on the general ledger without license fees. The general ledger will be free to use. The only cost will be tiny (sub penny), transaction costs to ensure a properly incentivized and functioning network (similar to Ethereum (“gas”) or Bitcoin (transaction fees), but much less (thus enabling micro-transactions)).

        2) Capitalizing On Innovation. We may open up the patent in future but if we are to launch a public ledger, we want to first ensure that we retain the competitive advantage of being the first entity to launch. This seems fair seeing as it took Leemon Baird (the inventor) 5 years to invent / develop the tech and as Hashgraph is a significant evolutionary leap from blockchain in distributed ledger technology. This is evidenced by the fact that a patent is only awarded if the invention is a significant improvement to the status quo (the status quo being blockchain). This is both evidence and recognition of the evolutionary leap in technology that Hashgraph represents.

        3) License Fees For For-Profit Enterprises, No License Fees For Public Ledger Use. The intention is to charge large corporations for use whilst empowering small indie developers to use. This is why license fees will only directly apply to Enterprise customers of Swirlds (Swirlds being the Company addressing enterprise use cases – similar to the difference between EEA and Ethereum). Ethereum would never charge a fee beyond “gas” to its users, and neither will the Hashgraph public ledger. In fact, the transaction fees for Hashgraph are going to be far less than Ethereum. The HGC will pay a small license fee to Swirlds for use of the Hashgraph algorithm, but this will come from the revenue made by the entity as a whole, rather from license fees from individual developers who develop on the public ledger.

        4) Governance And Fork Prevention. The patent allows for more effective governance and prevention of forks. Instead of having situations where you might have 2 bitcoin chains where no one is sure which fork is legitimate, there can only be one legitimate based Hashgraph currency and it will be enforced by law.

        5) Strong Market Advantage Even For Enterprises Using A License. We believe that serious developers understand breakthrough technology. We are not here to prevent anyone from developing great technologies and entities on top of Hashgraph. We have no interest in imposing onerous terms on startups – just the opposite. We believe Companies licensing our technology outside of the Public Ledger (where there is no direct license fee) will have a strong competitive advantage by using Hashgraph.

        6) A Blockchain Analogy. Think of the public ledger in this way. Imagine with Bitcoin, Satoshi patented blockchain technology. The principles of decentralization would still apply. The coin would do exactly what was intended – i.e. decentralize money (which is arguable as miners have so much control now). The only thing the patent for Hashgraph does is prevent copycats and forks, because anyone can look at the code itself and verify whatever they want and there will not be a license fee necessary to build off the public ledger.

        7) Building A Company For The Future. If you take a normal algorithm and you make a small improvement to it, then you would release it open source. However, if you invent something that is fundamentally completely new, then you patent it, you build a company around it and you push it out into the world. This is what Swirlds intends to do – build a fantastic Company around a revolutionary technology.

      - Hashgraph

        The patent is protecting our current business model for Swirlds. When and if a Public Ledger is ever announced, the terms regarding a patent would be released then. The option of making it entirely open source is on the table. We are listening to the community and we appreciate all thoughts, concerns, and suggestions. The best way to voice those is through Telegram: http://t.me/hashgraph Thanks!

        - Can Hicabi Tartanoglu

          If you were a company like TenEx I would understand the product not being opensource, but this is a company making a protocol with a purpose of disrupting fiat currencies. It has to be open to the public just like ethereum. I understand you keeping it as a patent for now, but I would be very happy to see this technology be 100% open source in the future.

        - Hashgraph

          Hi, there has never been any talk about a cryptocurrency. However we have seen large interest and will be addressing this issue in the coming weeks. Thanks

        - Can Hicabi Tartanoglu

          Then why do you compare yourselves to other cryptocurrencies? I am a bit confused now.

        - Hashgraph

          If people do ask, we sometimes will explain how we are different. This is much like comparing apples to oranges as we do not have a public ledger. Stay tuned for the announcement in a few weeks.

        - grasshopper_fxl

          they don’t. watch the videos on this page: hashgraph.com

        - grasshopper_fxl

          jesus christ!!! are any of you gits capable of reading English???

    - NabLa

      So far so good, but remember that if you don’t open source this, the community will shy away from it.

      - Hashgraph

        Hi NabLa. Thanks for the reply. Keep in mind there is no announcement of a public ledger or cryptocurrency. I hope you will join us on Telegram, however. http://t.me/hashgraph

        I have included some information for you to hopefully understand what open review means.

        What Does Open Review Mean?

        Open review means that anyone can review and critique the entire codebase – i.e. it is fully transparent. Moreover, suggestions can be made (and are indeed encouraged) for changes to the code base. This is thus similar to open source, except that you cannot use the technology in certain ways without approval (e.g. building another public ledger based on the Hashgraph or profit from selling Hashgraph to Companies). Note that anyone will be able to build applications / decentralized applications on the general ledger without license fees.

        Why is Hashgraph Licensed/Patented?

        Here is the basic guidance on the Hashgraph license and patent.

        1) Open Review. A public ledger would be open review, meaning that like open source, anyone can review the code base and submit / recommend changes. What you cannot do is use the technology for unapproved uses (e.g. by building another public ledger based on the Hashgraph or selling Hashgraph as your own solution to Companies). However, as the codebase will be open, suggestions from the community regarding changes to the codebase will be encouraged and most likely rewarded. Importantly, for a public ledger, any person will be able to build vertical applications / decentralized applications on the general ledger without license fees. The general ledger will be free to use. The only cost will be tiny (sub penny), transaction costs to ensure a properly incentivized and functioning network (similar to Ethereum (“gas”) or Bitcoin (transaction fees), but much less (thus enabling micro-transactions)).

        2) Capitalizing On Innovation. We may open up the patent in future but if we are to launch a public ledger, we want to first ensure that we retain the competitive advantage of being the first entity to launch. This seems fair seeing as it took Leemon Baird (the inventor) 5 years to invent / develop the tech and as Hashgraph is a significant evolutionary leap from blockchain in distributed ledger technology. This is evidenced by the fact that a patent is only awarded if the invention is a significant improvement to the status quo (the status quo being blockchain). This is both evidence and recognition of the evolutionary leap in technology that Hashgraph represents.

        3) License Fees For For-Profit Enterprises, No License Fees For Public Ledger Use. The intention is to charge large corporations for use whilst empowering small indie developers to use. This is why license fees will only directly apply to Enterprise customers of Swirlds (Swirlds being the Company addressing enterprise use cases – similar to the difference between EEA and Ethereum). Ethereum would never charge a fee beyond “gas” to its users, and neither will the Hashgraph public ledger. In fact, the transaction fees for Hashgraph are going to be far less than Ethereum. The HGC will pay a small license fee to Swirlds for use of the Hashgraph algorithm, but this will come from the revenue made by the entity as a whole, rather from license fees from individual developers who develop on the public ledger.

        4) Governance And Fork Prevention. The patent allows for more effective governance and prevention of forks. Instead of having situations where you might have 2 bitcoin chains where no one is sure which fork is legitimate, there can only be one legitimate based Hashgraph currency and it will be enforced by law.

        5) Strong Market Advantage Even For Enterprises Using A License. We believe that serious developers understand breakthrough technology. We are not here to prevent anyone from developing great technologies and entities on top of Hashgraph. We have no interest in imposing onerous terms on startups – just the opposite. We believe Companies licensing our technology outside of the Public Ledger (where there is no direct license fee) will have a strong competitive advantage by using Hashgraph.

        6) A Blockchain Analogy. Think of the public ledger in this way. Imagine with Bitcoin, Satoshi patented blockchain technology. The principles of decentralization would still apply. The coin would do exactly what was intended – i.e. decentralize money (which is arguable as miners have so much control now). The only thing the patent for Hashgraph does is prevent copycats and forks, because anyone can look at the code itself and verify whatever they want and there will not be a license fee necessary to build off the public ledger.

        7) Building A Company For The Future. If you take a normal algorithm and you make a small improvement to it, then you would release it open source. However, if you invent something that is fundamentally completely new, then you patent it, you build a company around it and you push it out into the world. This is what Swirlds intends to do – build a fantastic Company around a revolutionary technology.

      - Hashgraph

        The patent is protecting our current business model for Swirlds. When and if a Public Ledger is ever announced, the terms regarding a patent would be released then. The option of making it entirely open source is on the table. We are listening to the community and we appreciate all thoughts, concerns, and suggestions. The best way to voice those is through Telegram: http://t.me/hashgraph

        - random anon

          With all those claims, closed source and patents you’re presenting your tech as a scam. You clearly misunderstand how internet works and why Bitcoin and Ethereum are popular.

        - Hashgraph

          Hi, we are sorry you think so. We never have mentioned a public ledger, but so many people from the cryptocurrency communities have found out about us, so we are trying our best to explain. We are solely a distributed ledger technology, deploying in private enterprise businesses. Thank you.

        - Random person

          Very popular

        - Random person

          Telegram? Hold on, let me get my horse.

        - grasshopper_fxl

          you got no clue, do you?

        - concerndcitizen

          You may also run into some serious problems with money transmission laws. Bitcoin, as clunky as it seems is quite genius when it comes to getting around the banking laws. There’s a good legal reason why it wasn’t shut down.

        - Hashgraph

          You are definitely concerndcitizen ;D Thanks!

        - dkeats

          Why would you think that your patent means you cannot open-source your code? My guess is that your patent will not protect your business but rather force you to look for a particular kind of business that will limit your potential. Patents are two edged swords, and which way they cut is largely determined by current power.

        - Hashgraph

          If our code was open source, the businesses we deploy in would likely find a cheaper option- take the source code and build their own version of Hashgraph.

        - NabLa

          This argument is old and tested to be fallacious ad infinitum. Plenty of Linux companies making money out there.

          If you don’t open source your code and have it subject to scrutiny nobody will trust your security. You’re going to be selling to precisely the types that care about this sort of thing.

        - Hashgraph

          Thank you NabLa. Please note we are open-review, meaning that like open source, anyone can review the entire code base and submit / recommend changes.

        - grasshopper_fxl

          not true. they would be more profitable. hence, why open source?

        - BongBong

          You don’t need to be open source to be trusted. Is iOS open source? Nope. Is it trusted? Hundreds of millions of device owners seem to think so.

        - Ricardo Martinez

          exactly, we don’t need your business controlling the currency everyone is going to use. we need it decentralized an open source so we can see both competition and verify that the code contains no malware

        - Hashgraph

          Note that the code is tentative to be open-review (which means that the code is fully transparent.. so making sure it contains no malware is there is up to you. In addition it will be heavily peer-reviewed).Please note there is no cryptocurrency, and there has never been any talk of “our business controlling one”. We are aware of bitcoins bicameral Governance and Ethereum’s benevolent dictator and the pros and cons of both, in case there was ever a public ledger announced.

        - Thomas Lytje

          I agree. Open source or it isn’t for me.
          I will compile it for my self – or not run it. Sorry.

        - grasshopper_fxl

          LOL and you are representative of how many % of the worldwide potential population of users? your opinion == totally irrelevant in the business context hashgraph is considering. next!

        - Giorgos Kontopoulos

          Lots of great bussiness have been built around open source … if you can’t find one around you then you have not looked at all … plus closed source base will never be trusted by anyone … good luck

        - Hashgraph

          Hi @giorgoskontopoulos:disqus. There has never been any talk of being closed-source, and we would never be. You are entirely correct with your statement. Thank you. Join us on telegram http://t.me/hashgraph

        - grasshopper_fxl

          right… i suppose that’s why Microsoft doesn’t dominate the OS space?

        - Mylan Login

          Your greed will kill hashgraph, I’m turned off

        - Hashgraph

          we are ensuring it works properly. not greed but good try! 😉

        - Random person

          Blockchain quilting is the future. Like TP.

      - Dion Santana

        Completely Open Source is the only way I will be interested

      - Clicked Labs

        For all the nay-sayers out there:

        It’s perfectly fine for Hashgraph to patent their software and make money off of it. That is what the Free Market is all about. The fact that they are choosing to open-review their code base (meaning you can look but not legally copy it) means that it WILL be transparent for potential customers. There is NOTHING wrong with making money off of your creations.

        Bitcoin is a mess and will continue to get messier; It is much like having a highly democratic government – people can’t make up their minds and votes go no where – hence why there have been 2 forks. Bitcoin was also started off of dark web and illegal markets, meaning they empower dope dealers and even more nefarious characters (human trafficking, etc). Also, at this point, Russia, China, Japan, and US Gov’t are controlling many nodes. So how “decentralized” and “secure” is it when nation-states control massive amounts of nodes and can pump and dump its value?

        Lastly, Hashgraph is NOT a cryptocurrency. It’s a transactions system. So is blockchain. And if what it markets is true, it’s going to save lots of energy (don’t you care about the planet?), speed up transactions, increase security, and ultimately make blockchain obsolete. Whether it’s open-source, or open-review, as long as I can assert for myself that the code is not nefarious, it matters not whether I can legally clone it and make my own Hashgraph.

        - Mylan Login

          I guess you guys don’t understand why crypto started in the first place. People don’t trust centralized money period and you won’t change that. Too much power to one entity definitely blooms corruption. That’s why decentralized open source. You don’t get it. Don’t try n change your stance now either, cuz that will look super fake.

        - BongBong

          Hashgraph isn’t a cryptocurrency. There’s theoretically nothing preventing a developer from creating a form of useful currency and deploying on the Hashgraph. Am I wrong here?

  - Anonymous

    Great counterpoint. To be honest, I was really excited about this until I heard it was not open source…

- dollarbill4life

  Good stuff and very informative. Nice to see some form of pushback against the world’s powers-that-be. I’m learning as much as I possibly can about cryptos with an eye towards major personal financial change very soon.

  - Hashgraph

    Thanks @dollarbill4life:disqus ! Join us on telegram! http://t.me/hashgraph

    - dollarbill4life

      I will try, but I have too many messengers installed on my phone already.

- Nic Chin

  On a sideline, https://bitpetite.com/?aff=nicuk. Pretty new. worth checking out.

  https://uploads.disquscdn.com/images/fcb8fd67ba9713689a483431b4d601848e69dd8edbee3777a072e89e73663fbc.gif

- Nic Chin

  https://bitpetite.com/?aff=nicuk
  https://media.giphy.com/media/l1J9MBJXA30APYaiI/giphy.gif

- Bob Prebreza

  Wow very interesting information

  - Hashgraph

    Thank you @disqus_OYNjGK95Ad:disqus !

- lsenta

  Someone familiar with both techs can explain the difference between Hashgraph and the Tangle from a while ago?
  The properties & design seem’s too similar to make a distinction.

  - Pierre Paperon

    Yes … and Tangle/Popov is in open source since the very beginning.

    - grasshopper_fxl

      yeah, so what when you consider all the other concerning issues with Popov and team and lack of math proofs for many of their claims.

  - Hashgraph

    IOTA uses PoW, which means it is susceptible to DDoS attacks.. They also are not Byzantine (no security proofs) and have no time stamping/event ordering. Google “iota coordinator”. We are quite different.

    - lsenta

      Hum, thanks for taking the time to reply and the pointers.

      I understand that Tangle doesn’t prevent partitions and produces happened-before ordering.
      IOTA seems to use PoW as a way to keep the cost of SUBMIT vs VERIF of a block asymmetric. It’s not the energy-burning-core-component we see in Bitcoin for exemple.

      You need PoSomething too against Sybil Attacks. I guess it’s fair to assume the network / apps will rely on PoW until the currency is spread and PoS becomes reliable?

      Before I get into your paper, could you share intuition on how you go from partial ordering produced by the gossip protocol to a total ordering?

      I understood that: If 2 blocks where introduced concurrently, members are going to vote. The voting process is deterministic so a single node can “imagine” the vote of other members (because they meta-gossip).
      But then each node needs to be aware of every node in the network to count the votes?

      - Hashgraph

        This question is a bit unclear and jumping around a bit.. We achieve total order through the protocol. It would be best to get a complete understanding of that through our Whitepaper. We take the timestamps from each node and then take a median of all of them. Please do check out the Whitepapers and if you have more questions email me at kyle@hashgraph.com

      - grasshopper_fxl

        and let’s not forget that to make good on IOTA’s grand ambitions they need to build specialized hardware called JINN machines capable of doing ternary computations! WTF, right?!

  - Hashgraph

    Hashgraph provides a total order on transactions, which means that you can use it as a multi-master database;
    Hashgraph is Byzantine Fault Tolerant;
    Hashgraph does not require Proof-of-Work;
    Hashgraph reaches 100% certainty on the order of transactions; and
    Hashgraph handles partitions which is important for how well it will work at scale.

    A hashgraph is a history of how people have gossiped. So it tells you exactly what each person knows, and when they knew it which allows you to do virtual voting.

    - grasshopper_fxl

      very nice. IOTA almost got me fooled. they’re really good a hyping their tech.

- Zaphod Braden

  So all “coins” are obsolete & worthless …. overnight ….. ROTFLMAO

  - Jonas

    There hasn’t been made a currency on hashgraph yet and we don’t really know how hashgrah works out.. hope Bitcoin can adopt the tech if it turns out to be as effecient as Swirlds claim it to be..

    - Hashgraph

      Thanks Jonas! We still have a lot to do. This article is great, but very premature and early still for us at Hashgraph. We hope you will join us on Telegram, though! http://t.me/hashgraph

    - grasshopper_fxl

      forget Bitcoin and Ethereum. we don’t need them, especially not the monstrosity that EVM and Solidity are. what we need is tech like hashgraph, Cardano, and the Red Belly not-forkable blockchain protocol.

  - Hashgraph

    Hi Zaphod. Bitcoin, Ethereum, and all other altcoins serve a great purpose for what they do, and we are certainly huge fans of them. 🙂

- Zaphod Braden

  What does “Hashgraph is a missile in the coffin.” mean ?????

  - Jonas

    It means that hasgraph comes after blockchain has knocked out the banks and kick them in the balls while they are still lying down..
    Irl the banks are still ruling the world..

  - Menno

    I took it to mean whereas “nail in the coffin” indicates sealing the fate (of the subject in question, in this case banks), “missile in the coffin” implies obliterating it. Nailing down the lid of the coffin ensures that the person inside dies if he’s not dead yet; a missile in the coffin will destroy all vestiges of that person.

  - Alanglance

    The cliche is, “nail in the coffin”. For instance if a friend lights a cigarette, you can say “that’s another nail in your coffin.” Presumably, with a missile in the coffin, no more nails will be required: the corpse is set for eternity – maybe even vaporized I guess.

- Holochain Design

  Check out our open source project at holochain.org. We use Distributed Hast Tables, DHTs, that leverages the signed source chains to ensure tamper-proof immutability of data, as well as cryptographic signatures to verify its origins and provenance.

  The Holochain DHT also emulates aspects of a graph database by enabling people to connect links to other hashes in the DHT tagged with semantic markers. This helps solve the problem of finding the hashes that you want to retrieve from the DHT.

  Talk with our devs and community here: http://bit.ly/holohackers
  We’ve just released our Alpha O http://bit.ly/githolochain

  - Joh Nuj

    Thank god for holochain free open source alternative to this closed source proprietary poop known as hashgraph will be dust in the wind unless it becomes open source

    - Hashgraph

      These concerns will be addressed in the coming weeks. Thanks for your comment Joh.

    - Hristo Stoyanov

      Indeed, very super-excited about Holochain as well!

      The Hashgraph patents are designed to prevent others from creating “clean room” open-source implementation of hashgraph and apps. Imagine the Internet where the the designers patented HTTP. Patents are far worse than something being closed source! I won’t touch anything like that!

      - grasshopper_fxl

        great. 7 billion people – 1. LMHO.

        - shenzhentech

          You just assumed the consensus of 7 billion people disagreeing with one person. (??) Hristo, you have a good point, you don’t deserve to be mocked by this grasshopper. Leeman Baird’s claims of a better World Wide Web are tainted by the patent and the restrictive Swirlds SDK license. I can’t imagine a world where Tim Berners-Lee patented the WWW. This article alludes to software patents harming the Internet and innovation: https://www.wired.com/2012/02/tim-berners-lee-patent/ Also, Swirlds, The Hashgraph Company’s recent business deals show they want to create a new private ledger run and used by private corporations. Put those two things together, and you get power and control, the same problem as we’re trying to fix. 7 billion – 2

        - grasshopper_fxl

          ok ok … i found Hristo tone a little bit too dismissive of Hashgraph for no good technical reason.
          now, i didn’t have time to read the holochain wp, just glanced over it… and noticed 2 things:

          1- no mention whatsoever about a consensus mechanism except as mimicking the blockchain approach, so i guess holochain is not async BFT, which is the strongest possible form of BFT.

          2- no mention of how transactions and data integrity will be secured and a proof of this. yes, they want to do away with consensus and leave it up to specific holochain apps to enforce their own validation function. but this does not protect the holochain apps from DDOS or man-in-the-middle attacks, just to name a few.

          further, the Red Belly protocol also relies on a validation function and is able to reach 600,000+ Tx/sec while maintaining a non-forkable BFT blockchain.

          finally, to quote the Holochain WP:

          ‘In the distributed world, events don’t happen in the same sequence for all observers. For Blockchain specifically, this is the heart of the matter: choosing which block, from all the nodes receiving transactions in different orders, to use for the “consensus”, i.e., what single vantage point to enforce on all nodes.’

          this is not the case at all with Hashgraph whose solution provides a unique total order.

          the main flaw of Holochain seems to be that they start off from Ethereum and Bitcoin and ignore all the other academic research into BFT going back to the 70s and 80s and recent solutions such as Cardano, Red Belly, and Hashgraph.

          again, i am not buying.

        - BongBong

          Gee, I dunno. If Tim Berners-Lee had patented the Web, maybe he would’ve thought to prevent the abusive spam and viruses which threaten to slow things to a crawl. 🙂 Just a thought. There are positives and negatives to giving everyone’s voice “equal time”.

        - Joh Nuj

          the positives easily outweigh the negatives, it doesn’t need to be encapsulated by a third party to be cryptographically secure

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- eric “chesthing” strada

  How to invest?

- Lost Tale

  I need a visual explanation.

  - Hashgraph

    Yes! We have two – a pdf version and a video version. Head over to http://www.hashgraph.com to check them out.

- Timothy Weber

  So does the hashgraph not store the actual transactions themselves? If a block has 10000 wallets sending to 1000 wallets, can you see which wallets send to which after a year has passed?

  - Hashgraph

    We can store all the entire ledger. However, as we reached signed state in each round (all famous witnesses agree on previous transactions), we can then throw away old information. If a new node joins the network, he wouldn’t need to download 160 gb like in bitcoin (everything from genesis block to current block), he would just need to get the last signed state, and everrything that has happened since, which would be very small. Hope that helps. Join our telegram if you have more questions! http://t.me/hashgraph

    - Marco Lopes

      PascalCoin does that…

      - grasshopper_fxl

        PascalCoin is a joke when compared to Reb Belly blockchain protocol, which achieved 600K+ tx/sec.

- Mike Reveile

  What if you own a BOT Army and use them to distribute a bad hash. Your bad hash could beat the authentic hash and corrupt the entire ledger. Not a good idea!

  - Hashgraph

    The system is compromised only if 1/3+n actors are acting malicious. You are discussing a Sybil attack which we have a Whitepaper on here: http://www.swirlds.com/downloads/Swirlds-and-Sybil-Attacks.pdf If you have more questions join us on telegram at http://t.me/hashgraph

    - Mike Reveile

      Thanks. That explains it rather well.

- TheLounsbury

  This is simply pure bollocks. Neither banks nor central banks have been losing out. Quite the contrary, whatever technoboosters with little financial systems literacy write. The technology will eventually indeed be useful for more efficient transactions, but the naive, innumerate boosterism is not going to help it get there.

  - Hashgraph

    Appreciate your comment and interest in Hashgraph. Please note this was a 3rd party and unsolicited review.

  - Justin

    I use to share your pessimism in that the central banks will eventually win no matter what. I’ve since changed that stance once I figured out what is truly driving Bitcoin. Hashgraph did not solicit me to write this, I just love researching this stuff and once I came across their tech I had to help get it out there

- Alanglance

  The centrality of the time stamps to the hashgraph structure makes me wonder about how the hashgraph structure might be as useful model for how humans experience time, along the lines of the reasoning in: https://webusers.imj-prg.fr/~ricardo.perez-marco/publications/articles/Heisenberg.pdf.
  This article ends with useful speculations about how blockchain structures mirror our neurological experiencing of time. There are echoes of this in Mikael Gromov’s “Ergobrain” book, the ergobrain is a structure that we all have that is limited by mathematical reality, each ergobrain ls much like a block in a blockchain. “Neural Engineering” and “How to build a Brain” by Professor Eliasmith may be read similarly.

  - Hashgraph

    Amazing. Would love to chat with you more. Can you email me at kyle@hashgraph.com ?

  - RobSa

    Blockchain is to checklist as human reasoning is to_____?

  - Stephen Farrington

    Hey – awesome observation, Alanglance. I think you’re on to something (or Ricardo Pérez Marco is…) Thanks for the link.

- David Levin

  Is it impossible for the crypto space to speak without going over 95% of the worlds heads? Because I’m sure you want that 95% on board with your ideas. I’ve been following along for 3 years now but I don’t have the time, energy, or willpower to know what you’re saying when you gossip about a decentralized hard fork node using Casper in a heliocentric baseline. Can you imagine if any of the tech giants spoke like this? Use some metaphors, analogies, and laymen’s terms!

  - Hashgraph

    Hi David, please check my added reply at the end of the article, which breaks it down to laymen’s terms. If you have more questions, feel free to email me at kyle@hashgraph.com Thanks!

  - TheOverviewerdotcom

    Thank you, thank you, thank you, David!!! Very well put. I have been saying for years that there needs to be a whole class of middlemen who understand ‘geek’ and know how to explain it in laymen’s terms. I thought it would happen but this crypto geek-speak is like a foreign language! Actually, worse. I don’t get a headache from hearing a foreign language!

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- Optional Null

  Great article!
  Need an objective suggestion here.
  For a developer who’s trying to break into the Crypto world, what do you suggest to get started with? Explore the Blockchain then HashGraph or HashGraph would be sufficient?
  Thanks!

  - Justin

    I am not a developer, just love researching this stuff, but I would have to say start with blockchain … Hashgraph is still in its infancy, but keep yourself updated on their telegram page:
    https://t.me/Hashgraph

    - Optional Null

      Thank you very much. That’s what I thought as well 🙂

      - Hashgraph

        Hi there, we do have a Dev channel at http://t.me/hashgraphdev

  - grasshopper_fxl

    look at Cardano, Red Belly, and hashgraph.

- Jm Seigneur

  NEO the so-called “Chinese Ethereum” also uses Byzantine Fault Tolerance (the delegated BFT) and is quite fast. How does it compare?

  - Hashgraph

    We also have fairness properties – total order and time-stamping on all events. We invite you to check out Dr. Leemon’s video at Berkeley @ CESC on why Asynchronous BFT is so important. https://www.youtube.com/watch?v=c6_AXwAcUnU&t=401s Feel free to join us on telegram! http://t.me/hashgraph

  - grasshopper_fxl

    NEO or any Ethereum based protocols are not asynchronous BFT. if memory serves, the only blockchain protocol out there which is asynchronous BFT is Red Belly. but don’t quote me on that. been a while since i read their whitepaper.

- Dan Elton

  How do I invest in this ? $_$

  - Hashgraph

    Hi @danelton:disqus, join us on telegram http://t.me/hashgraph for this answer

- Ken Johnson

  Berwick funded Anarchapulco with money stolen from the victims of his Mexico passport scam. The 2018 event should be interesting, with some unannounced surprises for Berwick and those who promote his scams. https://www.youtube.com/watch?v=9BRFCo_6A9w&t=1s How about Berwick cucking out his wife in Argentina, and then falsely accusing the guy of rape who had sex with her. Great guy, eh? The truth is coming for you soon Berwick. https://www.youtube.com/watch?v=hDJFsAKeWhA&t=11s

- Brandirem

  Why do you include in the article a video of the conman, Jeff Berwick, who funded his anarchy conference with money that he stole from countless victims of his Mexico passport scam and then laundered the rest into cryptos? Big surprises coming for those who attend his Acapulco conference in 2018. https://www.youtube.com/watch?v=9BRFCo_6A9w&t=2s

  - Justin

    Wow I was unaware of this. Thank you for bringing this to my attention

    - Brandirem

      There is far more about Berwick and his scams that is soon to be released. We should have done so long ago, but we chose to pursue our criminal lawsuits in South America against his fellow swindlers prior to going public. http://www.galtsgulchchile.com/jeff-berwick-exposed This info just scratches the surface. We have many dozens of testimonies from his victims, and also hard evidence of his crimes that are now being investigated in various countries. Cheers.

  - twoElectric

    That video is of questionable worth. At least some of the text that someone has edited the video to show is wrong. For example, obtaining a passport from Dominican Republic can take 4 months through unofficial channels, but that is definitely not the time it takes under the laws of the Dominican Republic. To get the 4 month passport, one has to “convince” someone in a back office to backdate the paperwork. And even after that it can take the President two years to sign it so that naturalisation can be published in the Gazette. Although Jeff may be a con artist, the video clearly uses deceptive techniques to insinuate things.

    - Brandirem

      The video was supplied to us when we started posting information about Berwick’s scams, theft, and other crimes. We didn’t record it, or modify it in any way from what was sent to us. The captions were made by one of the people defrauded by Berwick. The company that supplied it to us was defrauded out of upwards of $500,000 USD by Berwick, which Berwick outlines $300,000 of in the video. I agree that the captions, and camera work, have little to be desired, but it is what it is. Outlined in his own emails to potential passport scam victims, Berwick appears to have defrauded his victims out of millions of dollars. We were provided these emails, the bank transfers into Berwick’s bank account(s), testimonies and more. His days of peace love and anarcy bullshit are numbered, as they are for some who participate in his conference and crimes. He stole people’s money and used it to promote himself to the crypto world, leaving many dozens of innocent people swindled out of millions of dollars that Berwick pocketed and refused to return to the victims, since he was too busy spending it on himself, his wife’s shopping sprees and plastic surgeries, marijuana investments (outlined in the video), laundered into cryptos, and more. Thanks for the feedback, and acknowledging that Berwick is a con artist. He is the most soulless person I’ve ever met…and I’ve been a whistle-blower in the environmental biz prior to the torture of dealing with Berwick for far too long, so I’ve run across some scumbags, but Berwick takes the cake. Cheers.

      PS – In 2013, Berwick lied to several mainstream news outlets (FoxBusiness, etc) in order to get onto their shows. He told them that he was the founder of BitcoinATM, yet Berwick was not the founder, nor did he even have a contract. His own emails state that he was doing this just to promote himself. BitcoinATM told him to cease and desist from his actions, so he then threw them under the bus with yet another BS story of how their company couldn’t succeed. He’s still riding the lies and bullshit as far as he can in the crypto world.

      - twoElectric

        Maybe you’re misreading what I wrote. I wouldn’t accuse someone of being a con artist without any evidence, and I have none since I’m not interested in the matter. That’s grounds for a libel lawsuit.

        - Brandirem

          Yes, possibly I did. Either way, all that I have said is supported with documented evidence. I wouldn’t put it past Berwick to attempt to file legal actions against those who expose him of course, since he has proven that he uses the state whenever possible for his benefit, while pandering to the contrary to the anarchist crowd.

- Brandirem

  Jeff “Cuck” Berwick and his slut wife run to the media and police to wrongfully accuse of rape the guy who had sex with his wife the night before. The Berwicks did this in an attempt to cover up their cuckholding and predatory ways from the residents of Doug Casey’s real estate project in Cafayate. https://www.youtube.com/watch?v=hDJFsAKeWhA&t=13s

- Matthew Azevedo

  Does this have the deflationary problems of other cryptos? Unless someone fixes that, cryptocurrency is going to be relegated to being a gambling toy for nerds and a way to buy drugs.

  - Hashgraph

    We are only a permissioned-network distributed ledger technology at this time. No public ledger, no cryptocurrency! Thanks!

    - Matthew Azevedo

      You didn’t answer the meaningful part of the question – is your currency deflationary by design?

      - Hashgraph

        I don’t know what currency you are talking about. We are a Distributed Ledger Technology.

- Mike Watson

  how does cashaa.com use this?

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- Vijayakumar Rajagopal

  Thanks @Hashgraph Team….Interesting read and good comments and debates on Block Chain Vs Hashgraph. Unless completely open sources its going to be less interest to many.

  - Hashgraph

    Thanks @vijayakumar_rajagopal:disqus – this will be addressed in the coming weeks. Join us on telegram http://t.me/hashgraph

- Akshay Pai

  I feel that there is not a thorough description on this technology and results of tests in large environment to make people believe in the tech.

  Also, it will not go anywhere, if it’s not opensource.

  - Hashgraph

    Thanks @akshaypai:disqus – will be addressing both of these issues in the coming weeks. This journalist wrote without our consent and went viral very fast. We did not expect so much traffic so fast. We just came out of stealth a few weeks ago. Join us on telegram- http://t.me/hashgraph

- datingsitespot.com

  this might be true, but I am pretty sure that by the time will be used there will a better option to this as well ! nice article !

  - Hashgraph

    We are currently unique in the space and have a roadmap and team that is very strong. Hope you will join us, http://t.me/hashgraph

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- Garratt Campton

  IOTA

  - grasshopper_fxl

    IOTA needs specialized hardware called JINN capable of doing ternary computation instead of binary. hashgraph doesn’t. if at this point you don’t go WTF?!?, you have been sucked into the IOTA vortex of marketing spin.

- Lourd Real

  The article does not state that there are other projects also doing the same technology (BFT), the most advanced seems to be Tendermint with their Cosmos network, coming end of the year. Polkadot has collected most money in this domain, but will come Q3 2019. There is also another competitor, IOTA, that is already live and running, which achieves the same goals, but without BFT. That hashgraph is not open source is of course also a downer.

  - Hashgraph

    Hi @lourdreal:disqus. We hope you will keep an eye on us as we are aware of those you have mentioned and believe we offer a new solution! Thanks! http://t.me/hashgraph

  - grasshopper_fxl

    i’d suggest you try to understand what achieving Asynchronous BFT means and then you’ll see it’s not the same as just BFT.

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- Steve Wilkins

  Sounds a lot like Bitshare… is what you are offering running on that platform?

  - Hashgraph

    Hi @disqus_9eSYXp6zPp:disqus – we are a distributed ledger technology. bitshares is something quite different. Think of us as a way of achieving consensus – what distributed ledger technology was really all about in the first place.

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- Ivan Piramida

  Without a proper explanation (that it is a closed tech which only can be deployed on trusted nodes) you get silly headlines like the one here – “blockchain is obsolete” – from people who do not understand what problem blockchain does solve and what problem is solved by a quick enterprise voting system. Tip: they are very different problems )

  The problem that “hashgraph” is solving is not unsolved, but can use an optimization, so well done. Just more explanation for journos, please )

  - Hashgraph

    Hashgraph will not be closed-source. They are indeed different problems. I think you will enjoy our release in the coming weeks. http://t.me/hashgraph – stay tuned here!

- F.w.u.f.f.y.

  The difficulty of mining is what gives BTC scarcity and thus value. You imply this is a flaw. It’s not.

  - Hashgraph

    Hi @disqus_JOVZOVxN6A:disqus – this is a belief of the author, and not of Hashgraphs. We love blockchain and believe it is here to stay for a long time. Thanks for the interest though. We’d love to have you in our telegram chat, http://t.me/hashgraph

  - grasshopper_fxl

    nope. the scarcity comes from the built-in limit of no more than 21M coins. the difficulty of mining has nothing to do with the valuation of BTC. for ex, if tomorrow the whales were to sell all their BTC, and if all the other players caught long started to panic and sell as well, and no one wanted to buy anymore, then the value of BTC would just plunge down to 0 even though it is now harder than ever to mine new coins. especially so since its value is not predicated on anything of economic value in the real world. put another way, BTC value only depends on the belief of people willing to buy it. nothing more. a pretty crazy way of investing when your decision algorithm is solely faith based.

    - F.w.u.f.f.y.

      You’re contradicting yourself. The built in limit IS part of the scarcity, as is the difficulty. Scarcity exists both in terms of how fast coins can be mined, and how many can exist.

      Even if whales (Satoshi) dumped everything it’s still not going to zero, bc whales do not hold an infinite amount of coins.

      Try thinking before you open your mouth.

      - grasshopper_fxl

        you should open a dictionary and look up the definition of the word ‘scarcity.’ even better, how about an econ 101 book to help you understand the fundamental concepts of scarcity, demand, and supply and how when there is no demand for something, no matter how scarce, the price won’t go up.

        and yes, the difficulty of mining or PoW, is a major flaw that prevented bitcoin from becoming a means of value exchange for everyday life transactions–i can pay for my coffee way faster with some paper USD money than i could with bitcoin. so bitcoin is not even good at being a currency (just to mention 1 of many problems). but yeah, sure, it’s going to take over the financial world. jesus, but you guys are so naive, it boggles the mind.

        - F.w.u.f.f.y.

          You don’t pay for coffee with stock certificates either. Use a lighter coin for that.

          I don’t really have a dog in this fight. BTC transaction fees are high and liquidity is a problem, but it’s just one implementation. Think of it like savings vs checking accounts.

          It’s better than worthless fiat debt based paper, under the control of the private banks who can issue virtually unlimited amounts of it and hand it straight to themselves

        - grasshopper_fxl

          yes yes. just to be clear, this is not a case where i am in favor of fiat vs crypto and so on. now that i understand the potential of a technology that implements true async BFT (Bitcoin doesn’t), i see the tremendous opportunity we all have BUT only with the correct technical implementation.

          i say this because unfortunately there are lots of coins out there who do not meet this criteria and too many speculators buying line, hook, and sink all the propaganda without realizing they are being led on by blogs and/or websites masquerading as news outlets specializing in crypto news, and so on.

          anyways, Bloomberg has a great and very enlightening article from Dec 8 2017 titled: The Bitcoin Whales: 1,000 People Who Own 40 Percent of the Market.

          i can’t resist a few quotes:

          ‘“As in any asset class, large individual holders and large institutional holders can and do collude to manipulate price,” Ari Paul, co-founder of BlockTower Capital and a former portfolio manager of the University of Chicago endowment, wrote in an electronic message. “In cryptocurrency, such manipulation is extreme because of the youth of these markets and the speculative nature of the assets.”’

          ‘Other investors say the whales won’t dump their holdings, because they have faith in the long-term potential of the coins. “I believe that it’s common sense that these whales that own so much bitcoin and bitcoin cash, they don’t want to destroy either one,” says Sebastian Kinsman, who lives in Prague and trades coins. But as prices go through the roof, that calculation might change.’With ether, a rival to bitcoin, the top 100 addresses control 40 percent of the supply, and with coins such as Gnosis, Qtum, and Storj, top holders control more than 90 percent. Many large owners are part of the teams running these projects.’

          and ‘Other investors say the whales won’t dump their holdings, because they have faith in the long-term potential of the coins. “I believe that it’s common sense that these whales that own so much bitcoin and bitcoin cash, they don’t want to destroy either one,” says Sebastian Kinsman, who lives in Prague and trades coins. But as prices go through the roof, that calculation might change.’

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- Michael Taggart

  Not open source. Bitshares Graphene did this 3 years ago. Why not talk about something that has worked extremely well for years and proven?

  250k tx? Where are then bench tests published? Theoretical? Probably.

  - grasshopper_fxl

    Bitshares is not the same. the voting algorithm is different.

- Harry Hawk

  What happens when a Gossip message contains lies?

  - Joh Nuj

    its ignored

- nihal Ansari

  Is hashgraph = (Blockchain Hyperledger ) + (Additional “gossip” consensus feature)?
  Please let me know an email address where we can discuss about the consensus feature and offerings. Thanks.

- Bill Landreth

  Ripple (dot com) is way ahead of these guys…. they may work eventually but I do believe this is an effort and not a new technology. They are correct, however, the blockChains are very inefficient and unsustainable. Also the original intent was to encrypt all of the transactions but with “forks” taking the entire BTC blockchain with them I am sure the NSA will not have much trouble decoding the entire blockchain… not that it isn’t supposed to be a “public ledger system” but then again why use difficult and consuming RSA key systems for an open and public ledger? RSA is a private company name, “by the way”, not some sort of algorithm.

  - Stephen Farrington

    With respect o the encryption, for one thing, signing is needed so that someone else can’t transact your holdings on the “public ledger system.” Another thing hashes are used for is to propagate an immutable encoding of all previous transactions forward into each new block, so you can’t falsify any old record without making it obvious by breaking the entire the chain. Last, thy are used to randomize the delay involved in mining a new block so that any “ties” in timestamping an attempt at double-spending are arbitrated by the network and only one of the competing “truths” about the transaction is accepted and propagated forward. Ripple doesn’t actually require XRP to work and most of the banks who are using Ripple are doing so through IOUs, not by employing XRP as an intermediate settlement currency, so think about that before purchasing any XRP.

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- Liberty88

  If this is not open source then it is a NON-starter!
  We already have enough scams, government “ops”, spy networks, and criminal enterprises …. We do not need any more hidden riff-raff.

- Andrei the Gr8

  closed source, minimal tech insight provided and you think you’ll replace blockchain? ROFL. Good luck. I hope you didn’t put all your eggs in one basket. Me, and the rest of the fiat money community will stick with blockchain for now…

- Random person

  fancy pictures – make it clap

- Michael Hill

  So it’s basically a road that’s owned by a company, which users would have to pay a toll to get on?

- Harley Quinn

  Not Sybil resistant, nodes need to be certified by Hashgraph corporation.

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