Hedera Hashgraph is the next generation distributed public ledger. The mechanism of the Hedera Hashgraph will be completely different from Bitcoin and Ethereum. Where Bitcoin and Ethereum are currently using the Conesus mechanism. Hedera Hashgraph will not be using the same technology, even they explored the new technique which will be ABFT (Asynchronous Byzantine Fault Tolerant).
ABFT (Asynchronous Byzantine Fault Tolerant)
From past few years BFT (Byzantine fault tolerance) has been standard for security in distributed systems. Byzantine fault tolerance means that honest members of a network can be guaranteed to agree on a common consensus, even if malicious members (Byzantine nodes) are trying to prevent that consensus, or trick them into reaching different conclusions. A system is BFT if it can guarantee that there will come a moment in time when all nodes agree on consensus, and they know they’ve reached consensus, and it is always the same consensus.
BFT means achieving this even while allowing for a wide range of faults or attacks. Byzantine faults include behaviors like lying, collusion, and selective non-participation. Clearly it will be harder for a set of nodes to come to valid consensus under these sorts of errors, compared to simpler scenarios where nodes may just crash.
Hyperledger also used the same system for Fabric and other flavours of Hyperledger. And one of the famous mechanism is PBFT (Practical Byzantine Fault Tolerance) and RBFT (Redundant Byzantine Fault Tolerance).
But above all the ABFT (Asynchronous Byzantine Fault Tolerant) is the strongest one. In a distributed system, Byzantine Fault Tolerance refers to the ability of the system to retain honest consensus in the network despite malicious nodes failing or manipulating with the false messages. Asynchronous Byzantine Fault Tolerant means that it can achieve consensus even if malicious node control the network and start altering the transactions. The Hedera Hashgraph consensus mechanism does not use a leader format as with the round-robin system of practical Byzantine Fault Tolerance, which allows it to be resistant to DDoS attacks aimed at leader nodes or small subsets of nodes.
In ABFT the whole system will start identifying which transaction happened and when it happened. Through this they can achieve verify the transaction easily and in better fashion.
Another advantage of Hedera Hashgraph is Fairness. It means that every transaction will be broadcast to all the nodes which are participants of the Hedera Hashgraph network. And the transaction order and time-stamp will also be accurate. This means that it does not have the transaction pool where all the transactions are being saved and after a certain period of time they will be mined. And miner decides which transaction they want to calculate. If you’re providing lesser fees there are chances that your transaction will take time to get confirmed. But in Hedera Hashgraph the transactions are being calculated once they released or broadcasted to network the system does not allow to choose any particular transaction on the basis of time and execution cost. This makes this system faster than Bitcoin and Ethereum.
To perform this action Hedera Hashgraph is using a Gossip Mechanism. In Gossip Mechanism instead of broadcasting transaction message, Hedera Hashgraph broadcasting the state to the network.