Steemit Crypto Academy// homework for @pelon53 on Hedera Hashgraph

Question 1
1.- Explain in detail the Gossip protocol, used in Hashgraph.

Before defining and explaining in detail the gossip protocol, i will begin by explain what a hashgraph is, as the gossip protocol solely depends on the Hashgraph.

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The Hashgraph is a distributed ledger technology. It is often said to be directed by acyclic graphs to create an asynchronous Byzantine Fault-Tolerant with acronym aBFT. The crypto currency used by the hashgraph is the HBAR, considered as a native currency. This said gossip protocol, works on simple terms as we often say gossiping is when you tell a single thing to a person and he carries and tell another person until the new fly out to everybody.
This gossip protocol is a protocol used by the hashgraph to send informations using network nodes and also coming to consensus on transaction. explaining how the gossipo protocol works
when information is been send between nodes,it is done at a random order in which one users tell all information to a next user, which was choose at random
and this next user will also choose another next user at random and tell all the information to; and the node continues. this information is often synchronise which is called a gossip sync. Now when gossip sync is completed, the participating members or users will need to commemorate this gossip sync with an event.

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To elaborate, this event has to be stored as a data structure in the memory. And is noted to compose of a timestamp. We also note that the hash of the event created by self prior and the hash of the last event which is created by the other parent are known as the Two Parent Hashes.
These hashgraph has been given a thumb up for its consistency making it quite unique.
The Events are as follows:

• The Timestamp: Which is the timestamp signifying when a member created an event.
• The Transaction: Which holds several transactions making it unique as well
• The Two Hashes of the two events which are the Hash 1: Self Parent and Hash 2: Other Parent.
• Digital Signature: Which is the cryptography signed by the initiators of the event.

Question 2
2.- Explain Tolerance to Byzantine Faults in Hashgraph.

A Byzantine Fault Tolerance

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The word Byzantine Fault Tolerance is gotten from the event Byzantine Generals Problem. This actually came into plan, to show a situation in which failure is avoided or escaped from in a distributed system. The Byzantine tolerance uses four army generals.

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The decentralized networks have independent and seperate nodes which act like the byzantine generals.
Before transactions are made, all the nodes must come to a consensus or on a particular agreement.

Question 3
3.- Make a comparison between Hashgraph Vs Blockchain, for a voting process in your country. Which technology would you choose? Why?

^{Image Source} I will begin by giving the definition of the hashgraph and the blockchain before going to its comparision . A Hashgraph is an information as well as a concensus algorithm which is principally based on the gossip concept or protocol and virtual voting and concluding with a secure transaction. A blockchain is a decentralise distribution ledger technology. It uses the technology of storing data in blocks and accessed by globally every participant.

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• Open-source:
  Hashgraph is solely based on a patented algorithm which owned by Swirlds. Indicating here that any new entry will have to pass through Swirlds while Blockchain is an open-source platform making it have many people contributing to building crypto currencies.

• Faster transactions:
  Hashgraph uses the gossip about gossip protocol which provides a faster transaction speeds.Also the Hashgraph processes up to 500,000 transactions in a second.
  The speed of transactions in blockchain is solely dependent on the implementation of protocols such as the Hyperledger protocol. it is normally slower than the Hashgraph with a speeds of 100 to 10,000 transactions in a second.

• Efficiency:
  Blockchain’s block is highly inefficient. This is because when two blocks are mined simultaneously, one has to be chosen over the other, while discading one.
  The Hashgraph is 100% efficient, and no transaction is discaded.

• Consensus mechanism:
  Blockchain uses consensus algorithms such as the Proof of Elapsed, Proof of Stake and Byzantine Fault tolerance.
  The Hedera Hashgraph uses the technology of virtual voting to gain network consensus.

At this juncture, it is well proven that the hashgraph is more better than the blockchain in terms of security, speed, efficiency etc
But for me personally i will be choosing the Blockchain over the Hashgraph, mainly because the hashgraph has not yet been launch, so we do not know the errors it might come with.
Half bread in your hand is better than a dozen still in the oven

Question 4
4.- Explore Hedera Hashgraph link show screenshots.

On entering the website of the Hedera Hashgraph site, the first page displayed is shown below in the screenshot. This homepage actually displays features which will be found after clicking the home button.

The features displayed include:

• Network
• Devs
• Use Casas
• HBAR
• Governance
• About
  

We will begin by exploring the Network.

Services offered by network include the token and consensus services which i will be exploring.

We can actually explore and manage the HBAR token here, by clicking on the get started tab

A good feature with the Hedera hashgraph is that we can check the Token ID, we can also create a token as well as update one. All the codes are already written and just ready to be ran.

The get started feature as i mention above.

On the dev tap, we can check the latest development as well as what hashgraph is all about.

On the Use Cases Tap we can check the:

• Payment
• Tokenized asset
• Fraud mitigation

Which i will be exploring Payment as example

It enables secure and real time payment

On the HBAR Tab, we have the following three examples.

• Overview
• Account creation
• Wallet and exchanges

Exploring Wallet and exchanges, we can actually manage and cuatomise HBAR cryptocurrency.

We can also create an account here.

Account creation overview.

We now have the Governance tab, with the following features as 39 term limited organisation.

The About is a great feature which shows the team behing the management of the hashgraph technology.

The vision of the hashgraph team is to build a strong secure digital world.
CC: @pelon53