What is the difference between Hedera Hashgraph and blockchain technology?
The main difference between Hedera Hashgraph and blockchain technology is the underlying technology used to power the network.
Blockchain technology is a distributed ledger system that uses a chain of blocks to store data. Each block contains a cryptographic hash of the previous block, along with transaction data and a timestamp. This chain of blocks is replicated across multiple computers, ensuring that all participants have an identical copy of the ledger.
Hedera Hashgraph, on the other hand, is a distributed ledger technology that uses a directed acyclic graph (DAG) structure to store data. Unlike blockchain, which relies on miners to validate transactions, Hedera Hashgraph uses an asynchronous Byzantine Fault Tolerance (aBFT) consensus algorithm to reach consensus without miners. This allows for faster transaction speeds and lower fees than traditional blockchain networks.
Additionally, Hedera Hashgraph offers more scalability than blockchain due to its ability to process more transactions per second.
