Hedera Hashgraph is Now Live with 26 dApps

1. Hedera Hashgraph is Now Live with 26 dApps Hedera Hashgraph, a distributed ledger technology (DLT) project well-known for being a competitor to Blockchain, has launched its mainnet beta. Since December 2018, the network's testing environment has been accessible to the world's largest corporations and developers. The public can now create an account or Decentralized app Development application on the network. Additionally, the HBAR tokens of the system are distributed to the public. Over 379 million tokens were distributed to investors

2. participating in the $124 million crowdsale in three rounds between March 2018 and August 2018. Additionally, 1.95M tokens are distributed to advisors, vendors, and participants. The remaining 50 billion HBARs are expected to be released by the network's governing council within the next 15 years. Twelve cryptocurrency exchanges and over-the-counter (OTC) desks have been revealed to include HBAR trading tokens. Included in this group were AlgoZ, Bering Waters, GSP, OKCoin, and features. The Hedera team has also announced that nearly 26 decentralized applications will launch on the Hedera network. Included in this are AdsDax, Chainlink, and Cetera. However, this raises the question: what makes it so special? And is it truly capable of replacing Blockchain in the future? Let's discover the answers in this blog, beginning with a definition of Hedera Hashgraph. What is Hedera Hashgraph?

3. Like Blockchain, Hedera Hashgraph is a Distributed Ledger Technology (DLT) project. It utilizes a Directed Acyclic Graph (DAG) structure to record data in blocks. "This is the first time hashgraph has been tested globally," said Mance Harmon, CEO of Hedera. It's a different data structure and technology, and it looks nothing like a blockchain, but it solves the same problems with improved security and performance. As asserted by Hashgraph's developers, it is notably distinct from other Blockchain and Distributed Ledger Technologies (DLTs), particularly in terms of its operational model. Working Model of Hedera Hashgraph Hashgraph operates using the Gossip Protocol and Virtual Voting mechanism, as opposed to Blockchain, which simply groups transaction data into blocks linked via cryptography. Each member or node in a Hashgraph network can distribute information to randomly selected neighbor nodes. The neighbor nodes combine the received event with data from other nodes to create a new event and distribute the latest event to the neighbors.

4. This procedure is repeated until all participating nodes are familiar with the data created or shared at the outset. Since each node already knows what the other nodes know, it is simple to anticipate how others will vote. Something that resembles a Virtual voting system. While the working model demonstrates that Hedera Hashgraph is distinct from Blockchain, several other indicators show that it offers superior facilities for Blockchain development. Hedera Hashgraph vs. Blockchain: Features that Make the Former Better 1. Blockchain networks deliver fewer transactions per second (TPS) than the Hedera Hash group network. Hash group supports approximately 10,000 transactions per second, whereas Bitcoin and Ethereum perform 2.8 and 15 transactions per second, respectively. The company has also announced that it will increase the number of transactions in the future.

5. 2. Hash group adheres to the Proof-of-Stake (PoS) consensus mechanism, which enables transactions to appear in the order in which they were recorded. Eventually, the same amount of time is spent settling. This makes it more impartial and trustworthy than Bitcoin's Proof-of-Work (PoW) mechanism. 3. This network code is not freely available. It is patented, making it possible to prevent codebase duplication and forking. 4. Since hashgraph does not store all transaction history on the ledger, its memory requirements are significantly lower than those of conventional blockchains. 5. Hashgraph is also distinguished by the fact that developers can write code in Java, LISP, and the Solidity programming language. Something that increases the likelihood that Blockchain developers will be enthusiastic about this DLT project. 6. Hedera's hashgraph offers high speed, finality, and instant payments. A challenge for blockchains such as Bitcoin, where 70 percent of transactions settle every 10 minutes, and some transactions never reach completion.

6. 7. Above all, Hashgraph provides the opportunity to address Smart Contract-related challenges. A smart contract in traditional networks is immutable. In other words, you cannot alter the condition and design structure when faced with purchases and inconsistent behavior. It can only be replaced with a brand-new unit. However, Hedera Hashgraph includes an optional mechanism that permits "binding arbitration" for Smart contracts. Using this mechanism, the design and terms of a Smart Contract can be modified with the consent of multiple associated parties. In addition, developers can select the contract's subsequent mutability at the time of deployment. Alternatively, they can deploy the contract using a list of arbitrators' public keys that can edit the code, add new features, fix bugs, and undo any transaction. Thus, while maintaining immutability, the Hedera Hashgraph network can provide better solutions to relevant problems. Hashgraph vs. Blockchain: Who Will Rule the Future?

7. Even though Hashgraph has the potential to surpass Blockchain by addressing real-world problems, it is still relatively new to the market. It needs more interest and adoption of Blockchain development solutions. Therefore, while it is possible that Hashgraph could one day defeat Blockchain, it might not if Blockchain addresses its list of deficiencies.