Steemit Crypto Academy Week 16 Homework Task for Professor @pelon53

Hello everyone and welcome to this week lecture from our reputable professor @pelon53. It’s a pleasure reading and learning new concepts about crypto currency from your lectures. This week lecture is about the Hashgraph.

Explain in detail the Gossip protocol, used in Hashgraph.

Hashgraph uses gossip protocol as a consensus algorithm to share information between different users on the network. The gossip protocol enables efficiency, security and promotes low delays for data to be communicated over the network from one node labeled “A” to another node labeled “B”. A good example could be seen in a peer-2-peer(P2P) network. That is it allow data to be disseminated across the network from one user to another. This process is faster, reliable, and efficient.

The name “gossip” came as a result of the way information is disseminated quick among users within the network. Just as a rumor spread faster within a community, is the same way hashgraph uses the gossip protocol process to spread data faster on its network.

There exist different alternatives to the gossip protocol depending on what it is required to be used for. For example, it could be used at a particular period of time, or nodes are paired up, or nodes are randomly selected on the network to disseminate information faster. Notwithstanding, nodes that already have the information are not paired.

However information can be interrupted during the process of gossip protocol due to malware infections. If information is infected by a malware, users will not be able to receive information disseminated on the network.

The main preoccupation of the gossip protocol process was to spread information faster throughout the network. It enables communication to be effective within peers. This has helped to limit users transactions to be hacked by hackers.

There exist different types of gossip protocols namely; aggregate, and broadcast protocols.

• Aggregate protocol allow nodes to receive and distribute information to other users on the network without delaying. It also keeps all data that has been processed.
• Broadcast protocol: here nodes are grouped and information is constantly communicated.

Advantages of Gossip protocol

• It is fast, safe, and efficient to disseminate information
• Gossip protocol is highly decentralized. That is there is no 3rd party interruption of information from one node to another.
• It is highly scalable as information is distributed on a larger scale within a particular period of time. This is visible in its efficiency.
• The fact that nodes are allowed to disseminate information to multiple nodes within the network, is a plus to the gossip protocol process. This is so because even in a situation whereby information is disrupted to a particular node, the information will still be shared by other nodes who already received the information.

Disadvantages of Gossip Protocol

• Since nodes cannot pair with other nodes in a different network, any breakdown in the system might leads to crash down of the whole system.
• Information might be affected by malware infections causing information to be interrupted or modified and shared to nodes.
  
  

Explain Byzantine Fault Tolerance in Hashgraph

It is a consensus algorithm which allow nodes to come to an agreement even if other nodes failed or delayed to respond with wrong information. It kind of promotes nodes to collectively make decisions on information to be distributed. It equally helps to limit the influence of nodes that are having faults.

Here trust is primordial because transactions can only be verified if there is a consensus agreement with different nodes. If there is no agreement between the nodes, transactions will not be validated on the network. In a case where information of a particular node is infected by a malware, a consensus agreement between other nodes allowed them to ignore distorted information and responded with the correct information.

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

The comparison will be analyzed in different dimensions as follows:
- Speed: To carry out transactions in a Hashgraph, the speed is faster than the speed to transact within a Blockchain. The gossip protocol used by Hashgraph permits the technology to execute faster transactions of about 500,000 within a second. Blockchain can only execute transactions within a speed of about 100 to 10,000 per second.
- Scalability: Hashgraph executed higher transactions with no delays with nodes validating transactions within a given time. Whereas blockchain there are possibilities to delay transactions especially when miners respond to changes in rates.
- Security: Transactions on hashgraph technology are highly secured and users assets are safe. This is because the protocol speed to transact is faster, reducing the chances of any attacks or hacks on the network. While blockchain still witnesses some setbacks in terms of security though still safe but not as compared to hashgraph.
- Efficiency: Hashgraph does not used the block method used by blockchain. With hashgraph, resources are maximize due to the fact that information is recorded and distributed to each nodes. With blockchain resources are not maximize as the time used to complete a block before another transaction is validated, lead to resource wastage.

Voting process in my country. Which Technology would you choose? why?

My country has a population of over 30million inhabitants, with over 250 local languages. It is bilingual in nature with English and French speakers. Since independence in 1960 we had have two presidents. Rigging of election results is a common panacea for the ruling party. This is because of the analog system still practiced by the regime, which allows them to fraud and remained in power. Opposition parties always protest for electoral fraud. The end result is that they are often jailed for protesting against election results. I will choose Hashgraph technology to be used during voting process in my country due to its high scalability and speed.

With the gossip protocol used by Hashgraph technology, it will be difficult for any electoral fraud. When gossip protocol is executed, each vote will be recorded and distributed to other nodes. In a case where a single node is having breakdown, there will be no disruption as information will be disseminated to other available nodes paired. This will reduce stuffing of ballot boxes, electoral results altered, and reduce irregularities before, during, and after elections.

Also, the consensus algorithm (Byzantine Fault Tolerance) used by Hashgraph makes it impossible for the system to be hacked and alter electoral data. This is because there need to be a consensus agreement between the nodes before any transaction is verified, and validated.

The gossip protocol used by hashgraph makes transactions faster and safe. If this is implemented in my country during voting process, results will be proclaimed faster than the analog system that takes a longer period of time, giving more time and space for fraudulent results.

The Hashgraph technology will make voting results to be fair and transparent. This is so because it can validate about 10,000 votes per seconds. This will enable voters to trust the system and will equally increase the number of voters. Of recent many have lost trust in the analog system of voting in my country, especially youths who are the backbone of every economy. I think that if hashgraph technology is implemented during voting process in my country, the youths will be encouraged to participate in choosing their leaders.

Explore Hedera Hashgraph. (Show screenshots).

Hedera Hashgraph is a platform faster and safe in terms of speed and efficiency in recording and distributing transactions on the hashgraph network. I am going to show with screenshots how to explore the hedera hashgraph. I am using an iPhone to illustrate this, which might be slightly different from those using desktop.

Step 1:
Login to google search engine hedera.com

Step 2:
Click on the menu bar top right of your screen. This will lead you to a new page as seen on the screenshot below.

Network:

• Network option shows all the services users need to know before having a Hedera token. That is it allow users to configure, mint, and managed fungible and non-fungible tokens without need for smart contracts.

• The “CONSENSUS SERVICE” shows how to verify time stamps and order events for any application blockchain framework.
  Devs:
• Under “Devs”, it gives access to all documentation and how to use API, and Favourite language. It equally shows other resources to be used such as cost of transactions, and a learning center on how Hedera operates.

Use Cases:
It give users the opportunity to use the following services;

• PAYMENTS:** Here users can reduce cost and explore new revenue.
• TOKENIZED ASSETS:** Allow users to swap and manage their assets.
• FRAUD MITIGATION:** It is costs efficient to users, and customers are protected .
• IDENTITY:** Allow users to maintain the lifecycle of credentials.

HBAR:
This allow you to create an account and study about the token, and equally wallets and exchange platforms supported by Hbar.

Governance:
It shows the build up of the team.

About:
Here you can access the roadmap, news and the team.

Thanks for reading. While waiting for your positive feedback remained blessed.

CC: @pelon53