Directed Acyclic Graph as Hashgraph: an Alternative DLT to Blockchains and Tangles

Abstract

Distributed Ledger Technologies are one of the pillars of future technologies, prognozing to have a great impact to many aspects of our lives, including social, economic, juristic, security and many others. Bitcoin is still the most popular blockchain currency, but the opportunities to use Distribute Ledger Technologies are much more wide, outperforming financial applications as most known and popular. Besides blockchains, there are also other architectures of Distributed Ledger Technologies. This paper observes and analyses one technology as a very strong alternative to blockchains: hashgraphs, which are promising to outperform blockchains, but also tangles. Basis of their architecture and functionality will be explained and directions and prognosis of the further development will be given. The main paper contribution is a comparison of a hashgraph technology to its concurrent architectures, i.e. blockchains and tangles, considering different segments and different properties that define a quality of Distributed Ledgers.