Hashgraph is an alternative to blockchain for distributed ledger technology. It uses a graph-based structure to record information, which allows for faster transaction speeds and improved scalability compared to traditional blockchains. Unlike a blockchain, which chains together blocks of transactions, a hashgraph connects transactions using a graph-like structure, creating a web of transactions that validate each other.
It uses a consensus mechanism known as “gossip about gossip” and “virtual voting” to quickly and efficiently reach consensus without the need for proof of work or proof of stake. This makes hashgraph particularly suitable for applications requiring high throughput and fast consensus.