The goal of a distributed consensus system is to allow a community of users to come to an agreement on the order in which some of them generated transactions, when no single member is trusted by everyone. In this way, it is a system for generating trust, when individuals do not already trust each other.
The hashgraph data structure and Swirlds consensus algorithm provide a new platform for distributed consensus. The Swirlds hashgraph system achieves the goal of distributed consensus, but without the constraints of current blockchain technology. Swirlds provides distributed consensus while also being fair, fast, provable, Byzantine, ACID compliant, efficient, inexpensive, timestamped, DoS resistant, and optionally non-permissioned.
Developers use Swirlds to build applications that rapidly achieve consensus, resulting in fair, fast, proven and efficient transactions, without any single point of failure.
End-users use Swirlds when they participate in a ‘swirld’ – a shared world. Examples of these shared worlds may include stock markets, online multi-player games, enterprise identity applications, and any other online ledger or collaboration system.
Swirlds are shared worlds where fairness and consensus are inherent, and transactions happen efficiently and reliably. By creating these shared worlds, Swirlds aims to build the trust layer of the Internet.
The unique approach of Swirlds enables fairness, rapid throughput, enforced rules and trust without a central server. With Swirlds, organizations today can develop applications with fairness in decision making, speed, trust and reliability, without the cost and risk of a central server. Key applications that have such requirements include stock and other markets, identity management, gaming, cryptocurrency, online collaboration, supply chain management, and ledger systems.