1. Swirlds
Confidential | Do not distribute — Copyright ©2016 Swirlds Inc. All rights reserved.

2. Swirlds Inc.
Developer of next-generation distributed consensus technology
Based in Dallas, Texas
Incorporated in Q4, 2015
3 million Raised
New Enterprise Associates, Happy Life Capital, PV Ventures and notable angel investors.
Confidential | Do not distribute — Copyright ©2016 Swirlds Inc. All rights reserved.

3. The Founders
Mance Harmon is the co-founder, and CEO of Hashgraph. Mance has over 20 years of strategic leadership experience in multinational corporations, government agencies, and high-tech startups. He was the Senior Executive for Product Security at Symbol Technologies, Motorola and the Program Manager for a large-scale missile defense war game simulator at the Missile Defense Agency. He was the Course Director for Cybersecurity at US Air Force Academy and holds a MS in Computer Science from the University of Massachusetts.
Leemon Baird is the inventor, co-founder, and CTO of Hashgraph. Leemon is a former Professor of Computer Science at the Air Force Academy, and got his PhD in Computer Science from Carnegie Mellon University, where he holds the record for the fastest ever PhD (2 years and 9 months). He has over 100 publications in peer-reviewed journals on computer science, machine learning, and mathematics.
Mance and Leemon have previously had two successful exits, one to a fortune 500 company, and the other to a large private equity firm.
Confidential | Do not distribute — Copyright ©2016 Swirlds Inc. All rights reserved.

4. The technology

5. Only Bank-Grade Consensus in Market
What is a hashgraph?
Not a blockchain (it is a DAG)
A simple, elegant algorithm
Mathematically proven
Implemented in software
Only Bank-Grade Consensus in Market
Confidential | Do not distribute — Copyright ©2016 Swirlds Inc. All rights reserved.

6. DISTRIBUTED LEDGER TECHNOLOGY
The history of
DISTRIBUTED LEDGER TECHNOLOGY

7. Proof-of-Work based Miners Examples Advantages Disadvantages
DDoS Resistance
Immutable audit trail
High throughput possible
Scalability
Disadvantages
High computation requirements
Firewall partitioning attacks
Coarse-grained timestamps
A miner can influence timestamps
A miner can influence transaction access and order
Examples
Bitcoin, Ethereum
Miners
All users submitted transactions to network, miners collect txs, miners put tx into block and determine order within block.
They compete to publish a block to network, by solving hard cryptographic puzzle, that they are awarded for.
PoW eliminates bad actors thanks to technological and economic disincentives. You would need a massive amount of computing power to fool the system.
Problems: very slow, by design. Miners must agree on which block to put next.

8. Leader-based Leader Members Examples Advantages Disadvantages
Low computation requirements
Immutable Audit
Moderate Throughput
1000s of tps, seconds latency
Fault Tolerant
Disadvantages
Designed for ‘fault’ tolerance, not ‘attack’ tolerance
Susceptible to DDoS attacks
Leader can influence transaction access and order
No fair timestamps
Low Scalability
Examples
HyperLedger Fabric, R3 Corda, EEA, Quorum
EOS, Tezos, IOTA
Leader
Members
BOTTLENECK tps. Security vulnerability – Ddos. Think of all the banks. Rogue employee or malware. Leader gets DDOS’d, Follow the leader.

9. Economy-based Disadvantages Examples Advantages Immutable Audit
DDoS Resilient
Low Computation
High Availability
Disadvantages
Not Byzantine
Firewall / Virus Attacks
No Certainty of Consensus
No Fair Ordering / Timestamps
Often: liquidity (must bond coins)
Often: can’t prove state to 3rd party
Often: no total order
Examples
Casper, EOS, Tezos
To address PoW issues, we make the assumption is that all the participants will act in their own best interest. I don’t want to lose my money. VIRUSES DON’T CARE. No formal proofs that say single attacker cant destroy an economy based system. Can you write a mathmatical proof that says that the stock market will never crash again? Of course not. But the market has people acting in their own self interest. It’s a chaotic system. What if I told you we could write a math proof that says no single actor could bring down the entire network ? Would that be of value? Of course. Those are the proofs that we want to write when we build systems that are going to handle trillions of dollars.

10. Voting-based Disadvantages Examples Advantages Byzantine
Immutable Audit
DDoS Resilient
Firewall / virus attack resilient
Low computation (No PoW)
High Availability
Disadvantages
Poor scalability (Impractical bandwidth requirements)
Individual members can influence transaction access and order
Low throughput
Examples
None – not practical
30 yrs, fantastic security properties. All previous security proofs are here. No Leader, No Manipulation, Can’t Ddos, ineffective due to bandwidth requirements.
Q: How do you use a voting algorithm without the voting?

11. Hashgraph with virtual voting
Advantages
Byzantine
High Throughput (100,000s tps)
Immutable Audit
DDoS Resilient
Firewall / virus attack resilient
Fairness of transaction access and order
Fair Timestamps
Low computation (No PoW)
High Availability
Scalable
Disadvantages
New code base
Examples
Exclusively Swirlds

13. security Immutable DoS Resistant Fair Order Fair Timestamps Server
Leader-based
Economy-based
PoW-based
Voting-based
Hashgraph

14. New properties - New Use Cases
In addition to all existing blockchain use cases -
Markets (NASDAQ, Dark Pools, Commodities)
Micropayments
Public Ledger Improvements (Consensus Timestamp, Proof of Receipt)
Time-Limited business transactions
Identity (Distributed Session Management)
Games (World of Warcraft, Minecraft, 2nd Life)
Registration (Patent Office, Domain Name Registrar)
Contests
Auctions (eBay)
Collaboration Apps (Dropbox, Google Docs, Slack)
Hashgraph
Blockchain
Confidential | Do not distribute — Copyright ©2016 Swirlds Inc. All rights reserved.

15. Current
TechCrunch Disrupt SF (Fair eBay, Game, State of Emergency Communication Protocol)
Seed Round Lead by NEA = $3 million
Gossip Program Launch, Meetups happening worldwide
Won 6,000 Credit Unions vs. IBM Hyperledger (CULedger)
Leemon talking at Berkeley
NYC Assemblage – HiddenForcesPod.com
Branding In Development
Confidential | Do not distribute — Copyright ©2017 Swirlds Inc. All rights reserved.

16. HASHGRAPH.COM
Confidential | Do not distribute — Copyright ©2017 Swirlds Inc. All rights reserved.

17. Confidential | Do not distribute — Copyright ©2017 Swirlds Inc
Confidential | Do not distribute — Copyright ©2017 Swirlds Inc. All rights reserved.
SWIRLDS.COM

18. MANCE HARMON, CEO
Kyle armour
TELEGRAM