Comparison of 4 Distributed Ledger Technologies (DLT): Blockchain, Hashgraphy, DAG and Holochain from the perspective of mining, transactions per second, data structure, validation of transactions, time of launch and network running on platform.
Comparison of 4 Distributed Ledger Technologies (DLT): Blockchain, Hashgraphy, DAG and Holochain
Blockchain
Mining: Participants have the ability to mint new tokens via different consensus mechanisms.
Transactions per second: Highly limited in terms of scalability and TPS.
Data structure: Data structured in blocks in order of transactions which are validated by miners in the ecosystem.
Validation of transactions: Miners have the power to postpone a transaction or cancel it entirely.
Time of launch: Went public in 2008
Network running on platform: Bitcoin and Ethereum are the most popular networks built on blockchain.
Hashgraph
Mining: Nodes create consensus through Virtual Voting.
Transactions per second: Unique consensus mechanisms reduce computational burden hence high scalability and high TPS.
Data structure: Virtual voting and Gossip about Gossip ensures that transactions are validated by the majority.
Validation of transactions: Validation of transactions is as per consensus.
Time of launch: Available for public use of August 24 2018.
Network running on platform: Swirlds and NOIA are the only networks on Hashgraph.
Directed Acyclic Graph (DAG)
Mining: The previous transaction validates the succeeding to achieve consensus.
Transactions per second: Unique data structure via directed acyclic graphs ensures that scalability and TPS are high.
Data structure: Data structure follows the directed acyclic graph mechanism where each transaction is independent.
Validation of transactions: The success of present transaction relies on its ability to validate two previous transactions.
Time of launch: NXT is the first platform utilizing DAG and it came out on November 9, 2015.
Network running on platform: NXT, Tangle and ByteBall are the most popular networks using DAG foundation.
Holochain
Mining: Nodes run on individual chains hence miners not needed to validate transactions.
Transactions per second: Each node processes its own ledger hence limitless scalability and TPS
Data structure: Data is distributed among various nodes on the platform hence there is no problem of network congestion.
Validation of transactions: Nodes process their own ledgers hence there is no need for miners.
Time of launch: Alpha 1 product released on May 26, 2018.
Network running on platform: Holochain network is the best-known network on this platform.
