Hash Labs offers sophisticated and customizable DLT solutions applicable to Fintech, Identity management, and Logistics. The underlying technology, Hashgraph, combines the security and immutability of DLT combined with ultra-high processing speeds of up to 500,000 transactions per second.
The technology and back-end architecture of many firms today is archaic, and established companies are laden with tech debt, making upgrades a daunting prospect. As DLT technology hurtles forward and new companies come into the fray, firms are feeling the pressure to upgrade their architecture in order to remain competitive.
Hash Labs builds customizable Distributed Ledger Technology solutions focused on security, immutability, and speed. The company is the first to have licensed the DLT platform known as Hashgraph after recognizing the technology’s superiority relative to alternatives.
A distributed ledger is a collection of transactions maintained in a decentralized form across multiple computers, called nodes. Each node replicates and stores the ledger and updates itself independently. These ledgers are not maintained by any one person or group. Instead, updates are independently recorded by each node. Nodes vote to achieve consensus, which is when all nodes agree on the order and content of transactions added to the ledger
A permissioned ledger is one in which network participants can restrict who participates in consensus. Unlike permissionless ledgers, where anyone can create an address and begin interacting with the network, a permissioned ledger is a closed and monitored ecosystem. Each participant is vetted outside the system. A managing body ensures restricted access so that each party who has access to sensitive data is assumed to be trusted.
No. Hashgraph is an alternative to blockchain. It is a distributed consensus mechanism utilizing a decentralized platform without servers. It enables hundreds of thousands of transactions per second, offers mathematically proven fairness, and provides asynchronous Byzantine Fault Tolerance for maximum security. In blockchain, the proof of work consensus is designed to slow down the addition of blocks to the chain to reduce forking in the chain. Unlike this inefficient mechanism, Hashgraph uses a virtual voting consensus algorithm. This “gossip protocol” (gossip about gossip, actually) enables asynchronous Byzantine fault tolerance, the strongest security possible, as well as fairness and speed. Asynchronous byzantine fault tolerant (aBFT) means there will always be a consensus, everyone will know when consensus is reached, and the consensus is never wrong.