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. 

  • 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

    • 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.

  • 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.

      • 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.

          • 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!

          • 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.

          • 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.

          • 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

        • Dion Santana

          Completely Open Source is the only way I will be interested

    • 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
  • Nic Chin
  • 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.

    • 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

    • 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.

  • 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

    • 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.

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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

  • 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!

  • 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 ?

    • Blockchain is to checklist as human reasoning is to_____?

  • 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!

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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 🙂

  • Jm Seigneur

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

  • How do I invest in this ? $_$

  • 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

  • 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

  • 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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  • IOTA

  • 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

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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

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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.

  • Harry Hawk

    What happens when a Gossip message contains lies?

  • 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.

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