Hashgraph Consensus Mechanism

Search Dictionary

Definition of 'Hashgraph Consensus Mechanism'

Hashgraph is a distributed ledger technology (DLT) that uses a unique consensus algorithm called gossip about gossip (Gossiping Byzantine Agreement) to achieve high throughput, low latency, and security.

Hashgraph is a directed acyclic graph (DAG) where the vertices represent transactions and the edges represent the order in which the transactions were processed. The hashgraph consensus algorithm works by having each node in the network maintain a local copy of the hashgraph and then gossiping about new transactions with its neighbors. When a node receives a new transaction, it adds it to its local copy of the hashgraph and then gossips about it with its neighbors. This process continues until all nodes in the network have agreed on the order of the transactions.

Hashgraph is a very efficient consensus algorithm because it does not require all nodes to communicate with each other at the same time. This makes it much more scalable than other consensus algorithms, such as Proof of Work and Proof of Stake. Hashgraph is also very secure because it is resistant to Sybil attacks and double-spend attacks.

Hashgraph is a promising new DLT that has the potential to revolutionize the way we use the internet. It is a very efficient and secure consensus algorithm that can be used to build a variety of decentralized applications.

Do you have a trading or investing definition for our dictionary? Click the Create Definition link to add your own definition. You will earn 150 bonus reputation points for each definition that is accepted.

Is this definition wrong? Let us know by posting to the forum and we will correct it.