In this episode Geoff McCabe CEO of DIVI sits down with CEO of Hedera Hashgraph Mance Harmon. The interview began with how the organization came to be together with his co-founder Dr. Leemon Baird and how Hedera Hashgraph emerged.
What is Hedera Hashgraph?
Hashgraph is a public distributed ledger and a governing body to support decentralized applications running at a web-scale. Hedera, is unique because it achieves as a mostly decentralized network but in a faster, efficient, and secure way. Mance mentions during the interview their use of asynchronous Byzantine Fault Tolerance (ABFT) which is the highest possible level of security for distributed systems.
Advantages of Hashgraph
Here are some of the notable advantages of Hashgraph in the episode
Fast: Hedera Hashgraph is widely known for its technology through gossip-about-gossip wherein its network comes to a consensus on the validity and timing of transactions.
Fair: This technology takes into consideration the correct time stamping technique
Secure: Like mentioned above, Hedera is an asynchronous BFT wherein it adds randomness that can’t be stopped by a member nor can it be changed
How does it work?
Mance mentions that Hedera is the only ledger that uses hashgraph consensus that was developed by Dr. Leemon Baird. Hedera runs thousands of transactions in a day and runs it over its innovative gossip-about gossip protocol and virtual voting. Hashgraph works expertly to verify transactions while making sure that the highest form of security standard. Once consensus is reached, it will be available for viewing in public. The Hedera Governing Council oversees the mainnet nodes for the time but once it will become permissionless, no need for the council to run it.
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