A global governance blockchain: Hedera Hashgraph is a distributed ledger technology (DLT) platform that uses a different consensus technology than traditional blockchains. It was developed by Leemon Baird and is managed by the Hedera Hashgraph Council, a decentralized organization composed of several global companies and institutions.
Features:
Hedera Hashgraph's native cryptocurrency is HBAR. This token is used to conduct transactions, pay network fees, and incentivize network nodes to participate in the consensus process.
Here are some features of Hedera Hashgraph:
Consensus technology: Hedera Hashgraph uses a technology called "hashgraph" rather than traditional blockchain. Consensus is achieved through an algorithm called "gossip about gossip," which allows nodes to share transaction information quickly and efficiently. This enables rapid consensus with reduced energy consumption.
Performance and scalability: Hedera Hashgraph is designed to offer high performance and scalability, with the ability to handle hundreds of thousands of transactions per second (tps). This scalability and speed allow Hedera to be used for applications requiring high throughput and low latency.
Security: Hashgraph technology offers resistance to Sybil attacks and DDoS attacks thanks to its asynchronous Byzantine Fault Tolerant (aBFT) consensus mechanism. This means that a network based on hashgraph technology can continue to function even if some nodes in the network are compromised.
Governance: Hedera Hashgraph is governed by the Hedera Hashgraph Council, which is composed of global companies and institutions. This council makes decisions related to network updates, code changes, and resource distribution.
Smart contracts and tokens: Hedera Hashgraph also supports smart contracts and token creation, allowing developers to build and deploy decentralized applications (dApps) and custom tokens on the platform.
