PART: 3 of 5 $HBAR
How does the “Hashgraph Gossip” protocol work?
Hedera’s “Hashgraph Gossip” protocol is a distributed ledger technology built to ensure that no group of nodes can control the network or interfere with its consensus.
To ensure that all nodes agree on the network's transaction history and the validity of current transactions, data is shared, verified, and synchronized. The translation of “gossip” is gossip, that is, as if users were talking to each other.
What is the difference between acyclic technology and blockchain?
In Hashgraph's acyclic technology, nodes generate timestamped events to record synchronizations. After each time-based consensus round, the process starts over and repeats itself, ensuring its functioning. This mechanism is governed by the Hedera “Council”, where members are responsible for maintaining the public network and its integrity.
The “Council” makes decisions on technical direction, approving applications and acting as the court of last resort for any disputes. The members of the “Council” are elected by HBAR token holders. In short, in practice, we can say that the Hashgraph system is less decentralized than other networks, such as Ethereum.
What is the advantage of Hedera Hashgraph?
The system allows you to create, simply and at extremely low cost, tokens, NFTs, decentralized applications, Web 3.0 platforms, streaming services and games while maintaining compatibility with the Ethereum virtual machine (EVM).
Compared to traditional blockchains, Hedera Hashgraph offers faster and almost cost-free transactions, but it is still too early to determine the effective demand on the corporate side, and from users themselves, for this alternative technology.
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