Hashgraph is a distributed ledger technology developed by Leemon Baird.

Each member starts by creating an event.

Each event is a container for 0 or more transactions along with some information regarding the transactions.

Gossip protocol run to sync within the members.

The members have to come to a consensus on the order of the events and thus the order of the transactions.

Event:

Has timestamp and digital signature.

Transaction

Hash of sending parent and receiving parent.

The entire graph of hashes is cryptographically secure and is an acyclic graph that grows upwards

Witness:

The first event that a member creates in each round is called a witness.

It is possible for a member to have no witnesses in a given round.

Fame:

The fame of every witness of a round is decided through a systematic vting process. If a witness of the next round can see a certain witness then it votes "yes".