"The new algorithm uses only one formula and needs no additional bias
corrections for the entire range of cardinalities, therefore, it is more
efficient and simpler to implement. Our simulations show that the accuracy
provided by the new algorithm is as good as or better than the accuracy
provided by either of HyperLogLog or HyperLogLog++."
Some comments about its accuracy (graphs included) can be found in this PR.
A new paper released this month introduces a new cardinality estimation algorithm called LogLog-Beta/β:
https://arxiv.org/abs/1612.02284
"The new algorithm uses only one formula and needs no additional bias corrections for the entire range of cardinalities, therefore, it is more efficient and simpler to implement. Our simulations show that the accuracy provided by the new algorithm is as good as or better than the accuracy provided by either of HyperLogLog or HyperLogLog++." Some comments about its accuracy (graphs included) can be found in this PR.