Steemit Crypto Academy Season 2: Week8 | HASHGRAPH TECHNOLOGY, by @ pelon53

Hi Steemians, Its my pleasure joining the class for this weeks lecture and Homework Task. Today's class on HashGraph Technology by @pelon53 was well understood and I would want to give me take on the homework Task accordingly.

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Question1: Explain in detail the Gossip Protocol , used in Hashgraph.

Gossip Protocol

The Hashgraph is a auspiciously seen to use the gossip protocol which is a consensus algorithm that majors in the distribution of information and data from one nodes to another in the network. It is known for its highly efficient speed in information delivery amongst bodes and also for its high tech security put in place. Today most communication protocols has adopted the gossip protocol in distributing information on the peer to peer platforms, hence connected nodes in the network are seen to pass information amongst themselves randomly and in a timely manner without any form of repetition between nodes.

What makes it faster in its information distribution among the different nodes found in its network is the ability of each nodes to randomly paired to another. This is an pattern that sees it propagate and distribute information seamlessly. This is to say that if Node A receives an information and randomly pairs with Node-C, Node-C may be randomly paired with Node-F and Node-F to Node-X etc. This makes the gossip protocol work more efficiently and faster. All this distribution are not only done timely but in an efficient manner saddled with high security.

This protocol and algorithm is seen to be fair in its operations as there are no tendencies of discrimination unlike what is obtainable in the PoW or PoS where miners with who solves the complex mathematical computation and have the highest amount of stakes are rewarded respectively. Though a malicious nodes can be skipped and a consensus reached in validating transaction. So far the the amount of malicious nodes are less that 1/3 in the network, a consensus of 2/3 of the total nodes in the network are reached and hence validation of transaction done.

The gossip protocol can be seen as an aggregated or broadcasted protocol. This determines how information is communicated, either as group or singly. As a group, the nodes are noted to constantly distribute information to make sure all nodes are well gossiped.

Some of the Pros of the Gossip Protocol

• The gossip protocol in the Hashgraph is a totally decentralized protocol which makes it uses more acceptable to the cryptocurrency space.
• The gossip protocol is a highly efficient in its performance with a transaction validation capacity of 10,000 transaction per second.
• High sturdiness where failure of a nodes does not stop other nodes from reaching consensus so as to validate transaction.
• It is known to use the Asynchronous Byzantine Fault Tolerance which position its protocol to work even more correctly in efficiently distributing information across all nodes.

Question2: Explain Byzantine Fault Tolerance in Hashgraph

The application of the Asynchronous Byzantine Fault Tolerance in the Hashgraph is a most welcomed development as this guarantees the correctness of the high efficiency of information distribution amongst nodes in the network. The Asynchronous Byzantine Fault Tolerance happens to the toughest in the Byzantine Fault Tolerance with 99.9% impossibility to over-ride its security architecture. For anyone to breach its security, it simply means that all the nodes operating in the network are malicious with malwares.

The Byzantine Faulty Tolerance simply tells us that the failure of any node in the network does not stop the action and activities seen in other nodes within same network. So a malicious node will not be noticed when a consensus is to be reach amongst other nodes. So far the malicious nodes in the network is 1/3 , a consensus is reached with the other 2/3 nodes available in the network and information about the consensus reached is also reached.

Questions3: Make a comparison between Hashgraph Vs Blockchain, for a voting process in your country. Which Technology would you choose? Why?

Comparison Between the Hashgraph and Blockchain

• Speed of Transaction: The Hashgraph is more faster with a 10,000 Transaction Per Second validation capacity while when compared with the blockchain (Especially with the Bitcoin with 5 transaction Per second) it is very much lower.
• Consensus Algorithm: The consensus algorithm used in the Hashgraph is the gossip protocol with a more advanced features compared with the the Blockchain with the PoW, PoS, DPoS with a relatively lower validation capacity and block intervals.
• Scalability: The Hashgraph is not only better a scalable protocol than the blockchain given to its ability to carry and pass more transaction at a time but its ability to also provide for an expansion if need be. One of the Blockchains limitation are issues bothering on scalability especially with the first generation cryptocurrency. They have very low scalability rate when compared with the Hashgraph.
• There are activities of Miners in the Blockchain chain which makes reward/earning skewed and block intervals for validation a transaction alittle longer. In he Hashgraph, there are no miner activities in its protocol. All what is need is the presence of the nodes which reach a consensus and transactions are done timely.

My Voting Preference in my Country and Why

My Country is a big one given to her population and peculiarities surrounding the terrain. The introduction of the electronic voting would be a welcomed development given to the tension seen before, during and after the processes. They have been cases of Mal-practices in different layers of the mentioned phases.

My Choice would be the HASHGRAPH given to its efficiencies and high ability to out ride the blockchain. The Hashgraph is a highly secured platform which uses the asynchronous Byzantine Fault Tolerance, which invariably means the electioneering system cannot be tampered with since the protocol has the capacity all times to reach a consensus and a particular transaction executed with delay. And the most trust worthy process here is that, it announces when a consensus is reached for all parties to be sure that it was a valid transaction.

Given to the population density of the country, the Hashgraph has the capacity to match all that. The Hashgraph is highly scalable to manage a large amount of votes cast at a given time and also room for expansion to accommodate more in terms of scalability. The Hashgraph also know for its speed of validating transaction per second, which would see that electioneering process would be concluded in a matter of minutes after everyone must have voted rather than wait for days hence the tension build up that leads to the destruction of lives and properties. It has a 10,000 transaction Per Second ratio to validate all votes coming into its network that is gossiped.

It also displays fairness and inclusiveness in its process as everyone's vote would be counted and also counts for their preferred candidates. This functionality is made evident with the presence of the Asynchronous Byzantine Fault Tolerance too, which gives a more correct and efficient distribution of information to other nodes not minding the inactivity of one or two nodes which maybe malicious in its network.

Question4: Explore the Hedera Hashgraph. Show Screenchots

I will quickly be showing us how I explored the Hedera Hashgraph using my mobile device via screenshot displays.

STEP BY STEP GUIDE

• First step here is to quickly login through the Hedera Site
• Click on the three lines on the top right side of the screen
• This would pop up a display, showing the following items;
  i. Network
  ii. Devs
  iii. Use cases
  iv. HBAR
  v. Governance
  vi. About

Network: Enables the user to have the Hedera Token service which can be used to forge a fungible and NFTs.

Devs: Avails us of the DOCS which helps to known more about the concepts and review the API. The SDK too which gives us more access to our favorite language.

Use cases: The following are under the Use-cases;
The Payments which reduces cost and unlock new revenue,
Tokenized assets which manages and swap assets,
Fraud Mitigation which reduces cost and protect customers,
Identity for lifestyle credential maintenance,
Data Compliance is for Log and Public verification of actions and
Permissioned Blockchain which create a private ledger with public trust.

HBAR: the HBAR has the following items under it;
Overview which helps us learn about Hedera's cryptocurrency, HBAR
Account Creation which enables and instant creation of new Hedera main-net account
Wallets and exchanges which help to find HBAR supported wallets and exchanges.

Governance: Shows us how to build up found in Hedera
About: This gives us a round down list; Team, journey, roadmap, user group, careers, media, press, news, blog and Papers.

Thank you Prof @pelon53, this sis my submission for the homework task.