Why Could Hashgraph Have An Edge Over Blockchain?

Hashgraph is the new technology and there are quite a few reasons why it could have an edge over Blockchain technology.

Hashgraph can be verified

All the transactions that happen in Hashgraph can be verified. This is because as soon as a transaction goes through it takes just a few minutes for all the community to know the place where the transaction will get queued in the ledger.

Also since every member of the community is aware of it this means that the changes will be implemented and discarded.

It is not required to keep the record of the transaction in the ledger for the entire life. This is one major reason why the Bitcoin has a 160GB Blockchain and the Hashgraph platform has storage that is less than one gig. And this is the sole reason why even a simple smartphone can be used to run the Hashgraph cede. Running the Bitcoin Code needs huge and high-speed computers.

Byzantine agreement

What exactly does this term mean? This means that neither can any single member or a small group of members stop the Hashgraph community from reaching a consensus. Once the consensus is reached then it cannot be changed by either an individual or a group.

This is not guaranteed when you use the Blockchain technology and this is because when using Blockchain technology the members never even get to the point where they know that a consensus has been reached.

Compliant

Hashgraph is used as a distributed database. The members agree on the order in which the transaction was carried out and they then list them accordingly. TheHashgraph helps the members to agree to the transaction order.

On the other hand, the nodes that are running the Blockchain technology never get a consensus that has been achieved across the network.

Cheap and efficient

No effort gets wasted when Hashgraph is used. This is because the transaction list or what is called as a block in Blockchain technology never gets discarded. Each block is used in order to achieve a consensus.

There is also a lot of emphasis on the proof of work and this makes it very expensive to run the Blockchain technology. This is when the mining power in the community increases. Hashgraph does not need proof of work and thus no block is wasted and also the work is completely efficient.

These are a few reasons why Hashgraph could be preferred over Blockchain.