Hashgraph Consensus

A hashgraph is considered a blockchain or a decentralized ledger. Just as we can write and store important information in a ledger, we can also store information in this decentralized ledger. Data verification with cryptography also secures its function, restricts access and uses stored data as verification. Hashgraph consensus mechanism is a technology that is the technology behind blockchain or the next generation alternative. The computational power of large networks is typically used to verify transactions. So instead, through the use of hashgraph consensus or this technology, transactions are recorded and confirmed through a protocol that uses node communication.

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However, a hashgraph network reaches consensus in a much different way than a blockchain. Hashgraphs typically reach consensus by using concepts called gossip (Initial data in a hashgraph is called "gossip") and virtual voting. Proof of Work (PoW) solves the inherent problems inherent in various algorithms. Hashgraph Consensus, it builds consensus in terms of better speed and higher efficiency and also solves the inherent problems of algorithms.

Hashgraph is a decentralized ledger alternative to blockchain. But it can perform various functions like blockchain, such as storing and encrypting data. It creates a hash for transaction information, similar to blockchain. Also, when a new transaction is completed, this new transaction or data is added and created. A blockchain consists of a block of data. We know that generally in blockchain process each block is connected to each other like a chain. Similarly, each of its blocks is linked to the previous block using its data, as well as verified by a network of validators to create the next block. And all these processes look like a chain.

Initial data in a hashgraph is called "gossip". Usually gossip spreads from user to user. And by spreading like this, Hashgraph updates the state of the ledger instantly and uses network algorithms and automation to ensure the same. Hashgraph is a data structure that is considered as an alternative to blockchain. It stores information as a record of who said what and in what order they did it. But the interesting thing here is that this is a collaborative history of gossip events. This is because participants add and share information, which verifies transactions much faster than blockchain. Hence it is considered as an alternative to blockchain.