Crypto Academy Week 16 - Homework Post for [Crypto Professor @pelon53]

Hello everyone, Today, I am here to make my submissions on this week's crypto homework task for professor @pelon53. This week's crypto is all about Hashgraph Technology, and my submissions will be based on the questions that have been asked by the professor.

^Src

Q1:-Explain in detail the Gossip protocol, used in Hashgraph.

When we mention Gossip protocol, what involves mind is extremely simple, its a communication protocol that's designed during a way that it's a highly secured, efficient and low latency distributed communication system. In other words, it's employed by digital devices to propagate information on a peer-to-peer network. This protocol is typically employed by network nodes within the blockchain networks to spread and disclose information faster and reliably between one another . However, communication protocols are applied consistent with the wants of every user or networks used dues to the very fact that there are variations of this communication protocol.

The Hashgraph make use of this gossip protocol to realize a consensus on the network data. In other words, The protocol sends the transaction information to the network nodes then come to a consensus on the transactions. However, the nodes continues to speak all the info that they need on the transaction randomly to the opposite nodes, which enables the transaction information to be spread rapidly through out the network. This protocol continue until it gets to a particular point where the knowledge is replicated on all the nodes of the Hashgraph network, this is often referred to as the gossip about gossip protocol. Hence, the nodes are often validated, information is processed and there's a concrete knowledge of the small print within the operation at an equivalent time.

This process enables the validation process to be much faster and efficient than in other protocols like PoW or PoS. for instance , if there's about 100 destinations of messages sent from the start , then each of those destinations replicates the messages to 100 different destinations. Once this continues through the chain, it means the messages will get to all or any the opposite nodes that structure the network in only a couple of transmission operations. When this transmission occurs along side Hashgraph technology, transactions are been confirmed by the nodes on the network in few second. This also allows up to 10,000 transactions per seconds which is seen as an enormous improvement in scalability compared to Bitcoin and other coins.

Q2:-Explain Tolerance to Byzantine Faults in Hashgraph.

First of all we must know that Byzantine Fault Tolerance is that the resistance of a fault tolerant computing system . It doesn't use miners to validate transactions and uses directed acyclic charts for time sequence transactions without grouping them into blocks.

In Hashgraph Byzantine Fault Tolerance means once you try to work out the order of transactions, there comes some extent once you know you've got reached a consensus.

• you are mathematically guaranteed that you simply will reach precisely the same consensus.

• we will reach consensus

• we will know once we have reached consensus

^Src

Q3:-Make a comparison between Hashgraph Vs Blockchain, for a voting process in your country. Which technology would you choose? Why?

BLOCKCHAIN

• Even though blockchain features a high degree if efficiency,it is not 100% efficient.This is because the blocks in blockchain makes it harder to figure.

• Blockchain uses Proof of Stake,proof of work etc as it's consensus algorithm.

• Blockchain uses a cryptographical approach in ensuring security because the blocks are tamper proof and therefore the data on each block cannot be changed

• Blockchain allows about 100 to 10000 transactions per second

HASHGRAPH

• Hashgraph is 100% efficient because it doesn't depend upon blocks,just events.

• Hashgraph on the opposite hand uses virtual voting as how of getting network consensus.

• Hashgraph uses Asynchronous Byzantine Fault Tolerance to secure the network.This makes sure the info cannot be tampered albeit there are some malicious actors.

• Hashgraph can perform up to 500000 transactions per second.

If I were to select a technology for a voting process in my country, I'll pick the Hashgraph technology because it might be ready to handle more transactions than the block chain technology.Hashtag also gets forefront of my pick because unlike the blockchain technology it's 100% efficient.

Both technologies are great and secure but the efficiency and therefore the ability of the Hashgraph to perform far more transactions than the blockchain technology gives it the top here.

Q4:-Explore Inherit Hashgraph show screenshots.

The Inherit Hashgraph is that the official and authorized dispersed agreement stage that's built with the Hashgraph agreement component which ensures speed, productivity and security of exchanges in its arrange. Knowing that the Hashgraph innovation is one that comes with the Nonconcurrent BFT which is that the most grounded within the BFT and persistently guarantees of agreement are come to which is custom Made towards approving exchange.

• Visit the homepage using the ^LINK and click on the three parallel lines at the Right side of your screen.

A menu will appear with a list of items

• Network
• Devs
• Use cases
• HBAR
• Governance
• About

• Now You click on the network option which provides the you the chance to possess the Hedera Token service. This enable the user to configure, mint, and manage native fungible and non-fungible tokens on the Hedera network without having to deploy a sensible contract.

• In the Devs option we have the DOCS which helps us to Learn core concepts and review the API.

Use Cases Features

• PAYMENTS For reducing cost and unlocking new revenue.

• TOKENIZED ASSETS For Managing and swapping assets.

• FRAUD MITIGATION Reducing costs and protecting customers.

• IDENTITY Maintain the lifecycle of credentials.

• DATA COMPLIANCE Log and publicly verify actions.

• PERMISSIONED Blockchain it encourages users to make private ledger with charitable trust.

HBAR Features

• OVERVIEW Learning about Hedera's cryptocurrency HBAR.

• ACCOUNT CREATION Instantly create a new Hedera mainnet account.

• WALLETS & EXCHANGES Find HBAR supported wallets and exchanges.

• The Governance tells us how the Hedera is build up.

• The About option gives us a round off list of what we all know already about hedera.

Conclusion

I am much grateful to professor @pelon53 for another great lesson, The Hashgraph was a nice topic chosen, It was really so good making my exploration. Thank you for reading my post.

Thank You
@pelon53
@steemitblog