LoginSign Up
Hedera Hashgraph

Hedera Hashgraph

Swirlds is a distributed ledger platform for distributed applications. Swirlds uses a unique consensus algorithm called hashgraph, developed by Leemon Baird.

Swirlds builds consensus on its distributed network protocol through what is called "gossip about gossip" to build a hashgraph, an alternative data structure to blockchain.

In the hashgraph data structure each communication between users creates an event (vertex) represents a gossip synch where for example Bob communicates to Alice all the events he is aware of (red). This event is signed by Alice, includes information about previous gossips from Bob as well a payload of transactions. Time flows up in the hashgraph shown here.

Design

Time ordering and consensus is created in Swirlds through virtual voting based on the previous state of the hashgraph network and information about how individuals would have voted based on the gossip they know about. The Swirlds whitepaper provides a variety of proofs on the consensus properties of the hashgraph data structure and virtual voting mechanisms. Apps built on the Swirlds platform define the voting stake of each member through various mechanisms, Swirlds suggests a variety of approaches including proof of stake, proof of work, proof of burn, or hybrid approaches.

Leemon Baird presented the hashgraph algorithm at Cloud Identity Summit in 2016.

Fundraising

Swirlds announced a three million dollar seed round led by New Enterprise Associates.

Patents

In contrast to other to most open distributed ledger projects, Hashgraph will not be open-source code but rather a patented codebase. Co-founder Mance Harmon spoke on this as a positive, enabling Hashgraph to guarantee a platform that will not fork. This decision is controversial in the cryptocurrency and blockchain field as many consider the ability for open-source projects to fork based on their views.

Timeline

Currently, no events have been added to this timeline yet.
Be the first one to add some.

People

Name
Role
Related Golden topics

Leemon Baird

Mance Harmon

Further reading

Author
Title
Link
Type

Leemon Baird

Swirlds and Sybil Attacks

Academic paper

Leemon Baird

Hashgraph Concensus: Detailed Examples

Leemon Baird

Overview of Swirlds Hashgraph

Leemon Baird

The Swirlds Hashgraph Concensus Algorithm: Fair, Fast, Byzantine Fault Tolerance

Leemon Baird

Hashgraph consensus: detailed example

Academic paper

Leemon Baird

The Swirlds hashgraph consensus algorithm: fair, fast, byzantine fault tolerance

Academic paper

Leemon Baird

Overview of Swirlds Hashgraph

Academic paper

Mance Harmon

Dictatorships, Democracy, and Blockchain

Academic paper

Marc Hochstein

No-Fork Guarantee? New Cryptocurrency Touts Resistance to Code Splits - CoinDesk

Samantha Stein

Hashgraph wants to give you the benefits of blockchain without the limitations

Swirlds

Swirlds Raises $3M Seed Round to Bring Improved Performance, Security to Distributed Ledger Applications

Documentaries, videos and podcasts

Title
Date
Link

CIS 2016 Tuesday, June 7- Swirlds Hashgraph Consensus for Identity- Leemon Baird

Jun 27, 2016

Companies

Company
CEO
Location
Products/Services

Swirlds

Mance Harmon

College Station, Texas, USA

Distributed ledger network

References