What part 2:
article IOTAs tangle and Hashgraph have to ledger -:
after we have explained the difference between the distributed-ledger-technology and the Blockchain yesterday, it is today about two alternatives to the Blockchain: IOTAs tangle and Hashgraph. Proper data clutter and flowering trees.
The Blockchain technology also may be so popular that arise again and again certain criticisms that the concept in question. Just the Bitcoin Blockchain with their proof-of-work method requires now quite long to confirm transactions. While the number of processed transactions is increasing, the technology relating to speed seems no longer to get behind, the disk space required by the Blockchain, the speed and the result are no longer in the correct Proportions. Different approaches to confront this problem of scalability – tangle and Hashgraph are two of them. Both systems should be illuminated in this second article of the series “What ledger”. While we turn again to the more advanced user.
Tangle – a proper maze
just like the Blockchain also tangle ( or tangle ) is a peer-to-peer network. This means first that it be run by equal actors. The team of IOTA, which have developed the tangle, want to offer the forehead of Blockchain with a better scalability, faster and more secure transactions. From the name of IOTA (Internet of things Association = Association for the Internet of things) emerges, the network is designed to provide a payment system for the Internet of things.
The below-IOTA DLT, the tangle, but no Blockchain would like to be. Instead of a Blockchain, IOTA uses a directional, i.e. directed acyclic graphs (known briefly as DAG): other than in the Blockchain, its data structure is a linked list, a single data node has more than one child. Therefore, these nodes are loosely scattered. In contrast to the chain of the Blockchain the tangle is a proper tangle of knots. There are other Kryptowährungen such as, for example, byte ball, whose data structure corresponds to a directional directed acyclic graph.
This node network is growing with each new transaction. This means that is the tangle not just in one direction, it promises a simultaneous processing of many transactions. As well, a part of the network can therefore act temporarily detached from the rest and be reunited with the tangle at a later date.
All beginnings are difficult
also in the review of transactions will tangle apart from the Bitcoin Blockchain. Each new transaction checks for two existing transactions. These are chosen randomly by algorithm. To check, there are two main criteria: not more token should be issued than there are. In addition, the transaction by the rightful owners must be signed.
That is each transaction for two already validated transactions, the network will be safer with each new transaction theory.
But all beginnings are difficult. The first transaction, Genesis called, had no transactions on which she could draw. Therefore, the tangle operates at the moment with a “Coordinator”, who confirmed all transactions. That is why IOTA despite well-known partners such as Volkswagen, Innogy, Telekom and others in the community is disputed. With sufficient size of the network, this “Coordinator” to are no longer needed.
While theoretically so resolve the problems of the Bitcoin Blockchain in questions of speed and energy performance, doubt on the autonomy of technology–in the tangle.
Hashgraph – gossip and gossip in the data tree
if one imagines the Blockchain as a chain and the tangle as verknotetes network, is a tree of Hashgraph. Much like the tangle, Hashgraph wants to solve the problem of scalability. In contrast to IOTA you have it here but “only” with a structure of data without having to do a corresponding Kryptowährung. Hashgraph is at the moment only technical framework and designed to make infrastructures for companies and the like.
The network now has a distributed consensus system [19459009on](Distributed Consensus Algorithm). As in the tangle, you allow multiple parallel computational processes, Hashgraph above all promises to be more efficient and faster.
The consensus procedure, Hashgraph used the gossip gossip-over principle (as gossip about gossip). So the developers promise to circumvent the so-called Byzantine failure problem. In short it comes to prevent the (exponential) distribution of false information in a decentralized system.
The gossip over gossip process, the individual nodes, communicate what the other nodes ‘did say”Gossip over Gossip
. If you like, each gossip aunties hub disseminated the information to more gossip aunts points. While all participants synchronize their information regularly with other randomly selected participants, to insure freshness.
In order to validate information, Hashgraph works with votes. Through the principle of gossip, the validated information to all nodes are carried along and remain therefore constantly up-to-date. The nodes coordinate with each other and thus validate the information. Thus there is a chain of points, the individual nodes linked together – the information about who has communicated with whom, it is stored in the hash – all hashes together form the Hashgraph. Hashgraph a constantly growing tree, whose Früchte themselves spread gossip is, figuratively speaking.
Technically, this has the advantage that you need only a minimum of bandwidth to further spread the gossip. At each retransmission, the participants add only a minimum of information, without distorting them.
both IOTAs tangle as well Hashgraph promise a high scalability and thus fast, safe and energieffiziente transactions. In contrast to the Bitcoin Blockchain there is however no Miner, transactions are validated at tangle with new transactions, which (currently) assigned over a co-ordinator. Hashgraph, however, used the gossip over gossip procedure, where they pass information about hashing and validate in the voting experience.
Of course there are other approaches in distributed-ledger technology and also new are added. In the case of the Kryptowährungen on the block are presented so in our series always innovative, distributed data structures new coins.