Comparing BlockChain with other Cryptographic Technologies (DAG, Hashgraph, Holochain)
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Abstract
With the rapid advancement in technological innovation, block Chain has become one of the hottest transformative techniques in the internet domain in recent times. As considered to be a decentralized, distributed and highly encrypted technology in data transfer, the blockchain has restored the trust for secured business transactions by the sophisticated cryptographic algorithm. Here the protocol validates that all nodes are merely synchronized with one another, thus providing security, anonymity, and data integrity without the requirement of any other third party intrusion. Block chain technology which is also known as DLT (Distributed Ledger Technology) that is a great platform for non-physical money transaction such as bitcoin and other online crypto currencies. It is seen as emerging foundational security-based technology having enormous potential across different sectors. Blockchain as a decentralized mode useful for a peer-to-peer network without the essential of any central or controlling authority server. This will, in general, reduce transaction costs, improved security, and execute the financial transaction in real-time. Block chain is significant and not the same as of now existing techniques. Since it empowers disseminated, independent decreases grating in business exchanges with safety and shares decentralized records, this paper gives a discussion on the comparative analysis of block chain technology with other existing technologies.
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