Review on Hedera Hashgraph by francis fernandez
competition for blockchain?
Blockchain technology offers a series of utilities for all sectors of people's economic and daily life; however, along with this technology, similar technology services companies have emerged as competition to the blockchain ecosystem. One of them is Hashgraph.
From Hashgraph technology comes Hedera Hashgraph; a public access platform; offering a variety of smart services, including:
• Electronic gateway to acquire goods and services using digital money as a form of payment
• Easy interface with the user of your platform
• Savings in transaction fees
• Efficient tool to develop smart contracts
• Allows you to create digital monetary systems
• File validation
• Create atomically linked exchanges
What aspect of your technology can we highlight?
Hedera Hashgraph has a robust infrastructure composed of a triple-level mechanism:
• Internet level: responsible for communication between servers
• Consensus level: made up of the nodes connected in the network that participate in the PoS consensus protocol.
• Service level: responsible for the management of smart solutions, such as: creation of digital assets, file management and development of smart contracts
A very striking aspect of this ecosystem is its mixed governance mechanism; It is made up of a Centralized Governing Board that acts in coordination with the Open Consensus, which uses the PoS protocol to guarantee the voting system on the network.
This last characteristic is one of the aspects that generates distrust among the followers of this network; because it does not work in a totally decentralized way and this can be a negative point in its development.
Pros
- Offers highly scalable technology
- Does not require arithmetic calculations to extract coins
- The generation of coins is highly fast
- Allows energy saving
- It is an inexpensive network
Cons
- A part of its network uses a centralized governance chaired by a Governing Board
