HashNET is scalable, efficient and high-impact decentralised solution to social innovation challenges leveraging Distributed Ledger Technology (DLTs). This algorithm features faster transaction time, masternodes and will have an open source, community governed crypto-currency – Tolar. HashNET consensus uses "redundancy reduced gossip" and "virtual voting" protocols based on a distributed computation and algorithms from theoretical computer science, which provides a fair and fast, byzantine fault tolerant consensus algorithm. It is a new consensus substitute platform and is designed to run on a non-permissioned (public) network thereby, reaching a larger community.