FORGET BLOCKCHAIN, HASHGRAPH IS COMING
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.
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