How does the consensus mechanism of Hedera work and what makes it unique?

3 answers

• May 01, 2022 · 3 years ago
  Hedera uses a unique consensus mechanism called Hashgraph, which is different from traditional blockchain-based cryptocurrencies. Hashgraph is a directed acyclic graph (DAG) that allows for fast and secure transactions. Unlike blockchain, where each transaction is added to a block and then added to the chain, Hashgraph uses a gossip protocol to spread information across the network. This allows for parallel processing and high throughput, making it faster than traditional blockchain consensus mechanisms.
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• May 01, 2022 · 3 years ago
  The consensus mechanism of Hedera, known as Hashgraph, is designed to achieve fairness, security, and high performance. It uses a combination of gossip about gossip and virtual voting to achieve consensus. This means that each node in the network communicates with a random set of other nodes and shares information about the transactions they have received. Through this process, a virtual voting algorithm determines the order of transactions and ensures that the majority of nodes agree on the order. This consensus mechanism is highly efficient and can handle thousands of transactions per second, making Hedera unique in the cryptocurrency space.
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• May 01, 2022 · 3 years ago
  As an expert in the field, I can tell you that the consensus mechanism of Hedera is truly groundbreaking. It combines the best features of traditional blockchain and DAG technologies to create a fast, secure, and fair system. The Hashgraph consensus algorithm allows for high throughput and low latency, making it ideal for applications that require real-time transactions. Additionally, Hedera's unique governance model, which includes a council of trusted organizations, ensures that decisions are made in a decentralized and transparent manner. This combination of technical innovation and governance structure sets Hedera apart from other cryptocurrencies and makes it a promising project in the digital asset space.
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