In most blockchain-based projects, the verification process relies on mining, an energy-intensive process requiring computers to work through fiendishly difficult computations to verify transactions. Can Hedera Hashgraph sidestep that problem by removing mining entirely and using an entirely new ledger structure? We find out below.
What is Hedera Hashgraph?
Hashgraph is not a blockchain in the sense that it’s built on a chain of blocks. It’s best to imagine it as a graph, whereby the speed of verifying transactions goes up as more transactions are added to the network. The name for the technology it’s based on is, in fact, known as a DAG , short for Directed Acyclic Graph.
This technology is designed to help Hedera Hashgraph achieve more than 100,000 transactions per second, making it a true competitor to Visa and other mass-market payment systems.
The Hedera network currently performs 6.5 million transactions per day with an average transaction time of 5 seconds—easily surpa
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