Hedera platform is built to support startup & enterprise applications that execute over the web. It is a public distributed ledger, which is fast, fair, and secure by following the Hashgraph consensus mechanism.
The concept behind Hashgraph is virtual Voting &“gossip,” “gossip about gossip,” following a decentralized consensus mechanism implying to resolve issues such as efficient working or “proof of work” (PoW)using a precise consensus algorithm.
The governance of Hedera Hashgraph is entirely decentralized and is governed by some of the top-most corporations of the World.
We apply distributed ledger methodology in dApps to create high-end trusted computational solutions, which leads to collaborations between diversified & successful organizations.
Our blockchain developers create robust decentralized applications using Hedera Hashgraph development services that are free of network errors and have smooth performance. You can even opt for transforming an old app or blockchain setup into Hedera Hashgraph.
We at Skylark work to research created standard decentralized applications over the Hedera Hashgraph platform while following the procedure to apply Smart Contracts, Consensus Service, API, and File Service.
We have a strong technical consulting team that can understand your business priorities and integrates the Hedera Hashgraph platform to enhance performance.
It is essential to analyze the business industry and the potential customers to provide exclusive UI/UX design for dApps, which are smooth and user-friendly. Our UI/UX designers are experts in delivering robust designs with well-performing applications. Creating a system blueprint with technical components and database format is another crucial part of designing dApps.
The current structure of your blockchain network or business app could be a centralized database, and here is where we can help by transforming the platform into Hedera Hashgraph, thereby enhancing the response level.
The Solidity Smart Contracts can be set up on Hedera Hashgraph networks in both public & private networks for creating B2C apps which represent enterprise businesses. Digital Token is available representing assets.
The assets can be tokenized while following the ERC standard & Solidity Smart Contracts, and the assets can be digitized internationally traded Tangible assets or government bonds.
Hedera Hashgraph has some unique features that make it an advantageous platform over other blockchains.
The Asynchronous Byzantine Tolerance Algorithm is the basic module in the Hedera Hashgraph platform, which keeps away the DDoS attacks over applications built over Hedera.
The Hedera Hashgraph apps can handle about 500,000 transactions in one second, and hence millions of users can scale up at once.
Hedera secures the transactions from getting controlled by the nodes, which is done by the cryptographic time-stamping technique, and serializes the transactions’ order.
The unique concept of gossip about gossip is applied with virtual Voting for quick consensus while avoiding Proof of Work.
The Hedera consensus service is linked to the Hyperledger Fabric for getting an order of transactions enabled along with public verifiability.
Here the Hedera Consensus is implemented using a public BFT Notary Service for Corda.
Hedera’s Proof of Action Microservice is used after implementing OSS Microservice for HCS to prove an application.
Hedera Hashgraph is a newly designed blockchain platform that applies distributed ledger technology with distributed consensus. Hedera creates a fast, fair, and secure system to execute dApps. What makes Hedera Hashgraph a unique blockchain is that Proof of Work computation is not needed here, and the transactions are verified by implying the Virtual Voting & Gossip About Gossip technique.
There are three main properties of the Hedera Hashgraph platform:
The primary attribute of the Hedera platform is the Hashgraph which is exclusively linked only to the Hedera network. Hashgraph is a swift and secure system that fulfills a similar objective as a blockchain consensus and quickly verifies the transactions while keeping the system safe from attacks.
There are two main elements of Hedera Hashgraph
Gossiping means spreading a set of news content from one person to another. This is one of the simplest rules on which Hashgraph works. The nodes in the Hashgraph contain information, so they form a new transaction by expanding the details with a randomly chosen node. Now, these random nodes add fresh information to the received transaction, which ultimately generates a new event. Finally, a new random node is selected to share the information, and the process gets repeated until all the nodes carry the same info.
Virtual Voting is, in a way, the process of verification of transactions, and the transaction is termed as valid if it attains 2/3 of the total votes. Voting is a long-term process, and because Hashgraph uses Byzantine Fault Tolerant Technique, it is always ensured that the functions will be continuously performed.
The Hedera Consensus Service has the essential purpose of enabling the apps to fetch the basic properties of the Hashgraph, which are speed, safety, and fair means of the Hashgraph consensus algorithm. The Hedera public ledger is capable of receiving notifications from the clients in an encrypted format to keep the privacy regarding time-stamping & orders.
The notifications or messages are critical as they may contain details regarding finances or money transactions, agreements, supply chain tracking, etc. Such notifications reach the mirror nodes or its clients to be processed, and here is where Hedera Hashgraph provides a verified & unaltered system of the transaction, which can be viewed in real-time into app events.
Fundamentally, Hedera Hashgraph works on distributed ledger technology which is safe & efficient in its performance. Here are some of the Hedera platform’s use cases.
Hedera Hashgraph offers multiple functionalities for an application’s successful, efficient performance, and our blockchain developers are well-versed in utilizing the tool for optimum usage.
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