Explain in detail the Gossip protocol, used in Hashgraph.

ANSWER

Hedera uses the gossip protocol to confirm and disseminate transactions. The data in the Hashgraph is passed to a small number of randomly chosen nodes on the network, from whence it is transmitted to other nodes, resulting in a comprehensive record of the transaction history. Hedera claims that the gossip protocol allows transactions to be streamed at a far faster and more efficient rate than PoW chains

Nodes connect with other nodes in the community efficiently and swiftly using the gossip protocol. Using the new gossip protocol, this automatically generates a hash graph data structure. This data structure is secure in terms of cryptography and contains the community's communication history. The nodes use the same virtual voting consensus technique as the other nodes as input. Without further contact over the Internet, the community agrees on the order and timing. Each event is digitally signed by the person who created it.

Hashgraph was more fair than PoW, which he likened to a lottery, because Hedera transactions would be streamed and timestamped in chronological sequence depending on when they were originally reported to Hashgraph.

Before broadcasting a transaction, two-thirds of Hedera nodes must confirm it. Baird also says that Hashgraph's lightweight efficiency makes it possible to run a whole node utilizing mobile phone processors.

Explain Tolerance to Byzantine Faults in Hashgraph.

ANSWER

The gold standard for distributed system safety has been Byzantine fault tolerance for a long time. Byzantine fault tolerance shows that even if bad members attempt to prevent or manipulate them to reach consensus, honest network members can guarantee a common consensus.

Hashgraph, unlike previous systems, turns out to be entirely asynchronous Byzantine, which means it makes no assumptions regarding the speed at which messages are sent over the Internet. Because of this, it is immune to firewalls, botnets, and DDoS attacks. Byzantine networks do not make up the bulk of blockchain networks. In many blockchain networks, there is never a point when you know you have a consensus.

Hashgraph consensus is based on the assumption that no more than ⅓ nodes are malicious and that digital signatures are secure. A Byzantine asynchronous system also presupposes that it is fault-tolerant, and honest nodes exchanging gossip will end up receiving messages from each other even if the network is attacked.

Hashgraph's Tolerance to Byzantine Faults, Simply put, hacking is extremely difficult or impossible, and influencing the network would require the cooperation of more than two-thirds of the participants.

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

ANSWER

• Efficiency
  In Hashgraph, there will never be a stale mined block. Transactions in the blockchain are stored in blocks that create a single lengthy chain. If two miners creates two blocks at the same moment, the community will choose one and discard the other, wasting time and effort. In Hashgraph, every block is utilised and none is discarded.

• Exixtence of manipulation
  In the blockchain world, a miner can pick the order in which transactions are processed in a block, postpone orders by putting them in future blocks, and even prevent orders from being processed entirely. The consensus timestamp provided by Hashgraph provides a solution to this issue. By preventing any manipulation of transaction order, it prevents a person from influencing the consistent order of transactions.

• Resources Consumption
  With top-rated blockchain networks like Bitcoin and Ethereum, among others, Hashgraph eliminates the need for enormous computation and energy consumption.

• Fair distribution of rewards
  Blochain does'nt seem fair to all miners, but in the hashgraph, rewards are distributed more fairly among the miners. Each receives in proportion to labor participation.

• Faster Transactions
  In a blockchain, all network information is recorded in blocks, whereas in a hashgraph, nodes only exchange transaction data, not all network information, and the information is saved in hashes. As a result, everything happens much more quickly than in the blockchain.

For a voting process in your country. Which technology would you choose? Why?

ANSWER

Electoral Voting by every citizens is essential to ensure that the state is administered according to the law. It is meant to voice their opinions on the country's government.
My country is yet to adopt the electronic Voting system, but if I were to chose, the hashgraph will be my choice to be adopted in my country.

The features of the hashgraph encryption method will make me choose it over the blockchain. The electoral commission has many flaws which brought criticism maybe the result is really what people wanted or it has been manipulated, but with the Hashgraph's feature..... there is security that people can trust far beyond the normal voting style that is being used.
In my country, vote counting takes couple of days sometimes before winner is declared, but talking of the Hashgraph's speed, and number of transactions that Hashgraph can processed per seconds, it will be of great benefits too, as it will make the vote counting faster and people will get to know the result within a very short period of time after the election has been conducted.

Explore Hedera Hashgraph link show screenshots.

ANSWER

The asynchronous BTF Byzantine algorithm is the strong hold of Hedera Hashgraph, a new public network. The platform and its engine were built to provide certain unique features, such as the network's capacity to maintain an honest consensus on the platform despite hostile nodes crashing or spreading false messages, or manipulation.
As a result, we'll dig into the project further.
The project have its own token called Hedera Hashgraph Price (HBAR)

The current price of HBAR is $0.23
The present ranks of HBAR is #51
The present market cap of HBAR is $2,041,308,811.87

Exchanges you can trade HBAR are Binance, Huobi Global, Bittrex, etc.

I will proceed this exploration from the official site hedera.com/

This is the Homepage of Hedera Hashgraph, once you go to the website https://hedera.com/, this is where you are going to land.
There is a menu button at the right corner, where you will be able to see their accessible features and about the project itself.

These are the menu list
Network
Dev
Use Cases
HBAR
Governance
About.

Now let look at what these listed menus are all about.

Network: One of the network menu main feature is "Hedera Token service". This is where user can create fungible and non-fungible tokens on the Hedera network without the necessity of smart contract.
Another main feature of the network menu is the "Consensus Service" which offers verifiable timestamps and application events ordering

Other services are listed below

Information:

• How it works
• Explorer
• Dashboard

The Devs Menu Consists Of

Docs: This feature is through which you can learn the fundamentals of API and evaluate it.

Hedera SDK: You can discover your preferred languages in the Hedera SDK.

Resources:

• Integrations
• Fees
• Open Source
• Learning center.

Use Cases Menu Consists Of
This section has some useful feature which are; Payments, Tokenized assets, Fraud Mitigation, identity, Data Compliances and permitted blockchain.

The enterprise feature: How Hedera can help in business.
The Gaming feature: this feature aids in the improvement of gaming administration fairness.

The HBAR Menu includes

• Overview: This is a feature where you may learn more about Hedera's officially launched cryptocurrency, HBAR, which I explained earlier.
• Account Creation: This function allows you to create a Hedera MainNet account in a matter of seconds.
• Wallet and Exchange: This section provides information on Hedera' cryptocurrency (HBAR) supported wallet and exchanges where you can trade it.

This Governance menu option will take you to a different website (https://hedera.com/council) where you may learn more about the Hedera administration, partnership, and sponsor.
To put it another way, the Hedera Hashgraph governing council is described in this menu.

The About menu option consists of many vital information, let explore it a little

• Team: https://hedera.com/about#team The list and profile of members working on the project development
• Roadmap: https://hedera.com/roadmap Here you will how the Hedera simple vision is organized
• Journey: https://hedera.com/journey Here you'll see their journey and how they started since 2012
• Media: https://hedera.com/media This is where Hedera shares update on their project
• Users group: https://hedera.com/hedera-user-group Here you'll see the whole of the growing community involved in Hashgraph's development
• Paper: https://hedera.com/papers Here you'll see the Hashgraph's whitepaper where basic information about the project is documented.

Conclusion

Hashgraph seem to hold a better future at hand, though the project is still under development, and many of is feature are mathematically proved, but not yet fully invented and tested. There appear to tacked major blockchain problems and this definitely is a huge advantage and consideration for those who might be willing to invest in it. Though I would advise all reader to do more research on this project before making any decision.

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Special thanks to Prof @pelon53 for this week's lecture