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Hashgraph: The Blockchain Killer? (w/ Leemon Baird)

Will the future be written on the blockchain? Or will a competing technology become even more important? Leemon Baird, the computer scientist behind hashgraph, explains why his distributed ledger technology could serve as a superior alternative to blockchain. This clip is excerpted from a video published on Real Vision on February 7, 2018. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Watch more by starting your 14-day free trial here: https://rvtv.io/2Y3ZqEj About The Creators of Crypto: What is the future of money? Pioneers in the cryptocurrency space share their views on what opportunities and risks lie ahead in the brave new world of money. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with original content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Twitter: https://rvtv.io/2p5PrhJ Instagram: https://rvtv.io/2J7Ddlw Facebook: https://rvtv.io/2NNOlmu Linkedin: https://rvtv.io/2xbskqx Leemon Baird on Hashgraph: The Blockchain Killer?    / realvisiontelevision   Transcript: For the full transcript visit: https://rvtv.io/2Y3ZqEj LEEMON BAIRD: Hashgraph is a way of making a distributed ledger work. In other words, it's a way to have a bunch of computers come to an agreement on the order of our transactions of the things that we're doing. And it also puts timestamps on them. So we have an agreement that this transaction was first and this one with second, not the other way around. And we have an agreement that this transaction happened at noon on Tuesday. And the whole community is agreeing on this. And that's what every deal team needs to do. Every distributed ledger comes to agreement on ordering and timestamps. And that's what Hashgraph does. But it does it in a very strange way, not the normal way of doing things. It is not like proof of work. You do not have to buy a super-computer to run a node. In fact, we have full nodes that are Raspberry Pis, you know these little tiny $30 computers. My small cell phone, of course, is far more powerful than you would need to be a full node. A cell phone can easily do it. So we don't use proof of work. The obvious way of getting consensus is, well, let's just have a King. I mean, that's the easiest way to make everyone agree on something. We'll have a King and the King decides what we do. That's the simplest way to have agreement. So a lot of old systems that were designed, and many of the new systems, are based on a leader. In some systems, what you have, is one computer is the leader. Everybody sends it the transactions. It puts them in order. And then it tells everybody the official order that it decided on. That's how it works. The problem is with a leader, you can do DDoS attacks, Distributed Denial of Service attacks. What if there are a bunch of computers out on the internet that a hacker has taken control of, little tiny computers, like the computers in printers, and in web cameras, and in DVRs. And they've taken control of a whole bunch of these little computers. And they tell all the computers at once to flood the leader with packets. That would shut down the leader, which