Goodbye Blockchain. Hello Hashgraph.

[CryptoAnswers]

Hey guys,

First let me say thanks for sharing our article. Second I'd like to apologize for the clickbait title, but ultimately I hope we made it clear that Hashgraph does not pose any threat to blockchain or Bitcoin at the moment.

Hashgraph, unlike Bitcoin's blockchain is permissioned and not open-source and they are not planning any public ledgers anytime soon. They just took on 6000 credit unions (CULedger) as a client so they have their work cut out for them. Just to give you an idea of the strength of their tech though, according to CEO of Swirlds Mance Harmon, they actually acquired that client (CULedger) through a competition in which they beat out IBM.

We just feel folks need to be informed that alternative tech exists and there is nothing wrong with increased proliferation of decentralized networks and consensus methods, both on the public and private side.

That said, if anyone cares enough to have some of their questions addressed at an upcoming interview, please leave your questions in this thread. The interview will be led by the CTO of Syncleus, and we will be interviewing the CTO of Swirlds, Dr. Leemon Baird, so nothing is too technical.

On 11/12/2017, the interview will be made public here: https://cryptoanswers.net/interviews

Thanks!

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[kr105]

It has already been announced on the page that does not rival Bitcoin, but for the first time I've heard Hashgraph here and now I do a little research. It is very ambitious. Bitcoin is limited to 7 transactions per second, while Hashgraph trades 250,000 more transactions per second and costs less. There is no limit in technology in our time, Interesting ...

[noormcs5]

There is a level of behind the scenes control that just oozes from this. Now, there is a lot of info there and I have not had time to see it all, but it seems that even though the words say that it cannot be hacked, there is a reasonable enough window for insertion into the system and according to their own words, if enough people quickly agree with your insertion, then the information is made real. There is a reason that the blockchain refers backward for anchoring of the new block, because it eliminates break points.

[BillyBobZorton]

If it's patented, has closed source, has a shady start like an ICO, a premine, of anything of similar nature, then it is a shitcoin scam, nothing much to add. Everyone claims that they got "next bitcoin", yet, nobody is releasing this "next bitcoin" into the wild to get tested by the market, the user load, and the hackers, attackers, shills, forks, and everything that bitcoin has survived.

Don't fall for the scammers, they just want your bitcoin. If there is a coin that beats bitcoin in every department, we will be the firsts to know and admit it, but so far we only have half assed attempts and smoke and mirrors at worst.

[stompix]

If it's patented, has closed source, has a shady start like an ICO, a premine, of anything of similar nature, then it is a shitcoin scam, nothing much to add. Everyone claims that they got "next bitcoin", yet, nobody is releasing this "next bitcoin" into the wild to get tested by the market, the user load, and the hackers, attackers, shills, forks, and everything that bitcoin has survived.

Don't fall for the scammers, they just want your bitcoin. If there is a coin that beats bitcoin in every department, we will be the firsts to know and admit it, but so far we only have half assed attempts and smoke and mirrors at worst.

You nailed it.
Basically is not just "too good" to be true, it's almost impossible too good.
That 250 000 number was the first thing that made me suspicious. Then the begging for money, and then as I said before I checked the two experts that come out of nothing.

Now I took some time checking the patent.
Complicated, over complicated and again I'm suspicious it was written this way just to cover up things.
But sincerely it looked less like a blockchain and more like segwit with a lot of resemblance, just with crappy explanations and adding a new layer to make it more interesting.

I don't buy it. And I won't by any ICO if hey launch one.

[Dudeperfect]

I took a quick look on the website of Hashgraph and the idea they are presenting is impressive but it won't compete Bitcoin or blockchain in my opinion. This case is just like Bitcoin and XRP, both the things are serving a different purpose to different sets of people.

Even though the idea of Hashgraph seems impressive at the moment, we can't really comment anything about it until and unless we see some actual product running on it. It might take a year for Hashgraph to produce and inculcate their product in the market.

[jlanzago]

I think both could co-exist, unless I miss something. I like the idea of decentralization the blockchain carries but hashgraph could disrupt the market indeed.

[Flodemaga]

It have two big issues for me the first one is isnt decentralized soo someone has too much power to influence the transactions and isnt open source, even with amazing transaction volume, sounds like visa and mastercard system upgrade. I doubt the most crypto lovers and supporters would consider to moove into such platafform since we have already the DAG wich makes the same or similiar and well without fees.

[LazyBitInvestor]

1.decentralized? Nope
2.opensource? Nope

That`s the most important cases.
Blockchain technology just appeared recently and i think -in  next 10 years we will not see something that differs so much from it.

[Bounty_Hunter]

It zapatentovana proprietary technology used by the company. These are two important factor on which bitcoin is better.

[portstarboard]

What is clear is that blockchain has made an impact on the world, for there to be a competing tech. Like betamax and VHF, and Blu-ray and whatever the other HD-disc medium was (forgotten about already ).

Given their transaction capacity and the fact that they seem to be ironing out the creases before public release, HashGraph could stand as a real contender in the distributed space. I might be unpopular in saying this but complete decentralisation is perhaps not something that EVERYONE wants nor really understands the purpose of; as far as a lot of people will be concerned this will be decentralised i.e. there will be no central servers, or gigantic Google, Facebook or Apple corp. to sell you a product. The proof mechanism is the same as NEOs by the looks of it, and people like that. They've received VC funding so I'd be surprised if they decide to go rogue with their money.

[Nesp]

It has already been announced on the page that does not rival Bitcoin, but for the first time I've heard Hashgraph here and now I do a little research. It is very ambitious. Bitcoin is limited to 7 transactions per second, while Hashgraph trades 250,000 more transactions per second and costs less. There is no limit in technology in our time, Interesting ...

Bitshares can do 100k t/s and what

[CryptoAnswers]

Here's the interview we were talking about earlier:

https://cryptoanswers.net/swirlds-interview-leemon-baird

Hopefully this will clarify things further.

Thanks!

[SuperD007]

I think if hashgraph is able to do what they claim it can do and once they get a few working models in place for people to test then the potential is endless.

[vonnyaries]

hmm, maybe next year or next 2 year all blockchain will migrated to hashgraph if the hashgraph is greateer than blockchain, in speed side and the security. what do you think? are the bitcoin and other coin changed their platform from blockchain into hashgraph?

[dawoodkhan97]

It is isn't necessary that no 'New' technology will emerge
after the blockchain. There is always room for improvement
as no system is perfect.

Hashgraph looks promising due to what it can offer but still
it is too soon to tell and blockchain technology is not going
anywhere soon.

[oskuro83]

Do you know when will Hashgraph be released?

[khaled0111]

It is obvious that new technologies will emerge and maybe one day they will replace the blockchain technology.
I am not an expert thus I can't tell if Hashgraph technology is better than blockchain but what I can confirm that it will not be possible to replace it in the near future because users hardly accept changes. Adopting hashgraph will take some time.

Here are just some of the possible applications that can be built on top of hashgraph:

Markets
Identity
Gaming
Cryptocurrency
Online Collaboration
Public Ledger

Maybe it can be used for online collaboration or identity but unlikely for cryptocurrency.

[dreamax25]

From what I read and heard, the tech itself is a very smart devoloper tool, some even says it`s better then blockchain.
The only ˝negative˝ thing about it, is the patent thing, so there is some less chance for mass adoption and implementation in the already tech based on blockchain.
But definitly it` something worth looking up for the future, maybe less then 5 yeasr from now, we will see a whole new scenario.

[Solrak]

Do you know when will Hashgraph be released?