STEEMCRYPTOACADEMY WEEK16 HOME-WORK POST FOR PELON53
Hello professor @pelon53, nice attending your lecture and reading through trust me you did a very intelligent work explaining this particular one in detail once again I have learnt alot sir keep it up.
Author= @pelon53
Explain in detail the gossip protocol, used in hashgraph
I really love this question but before I answer it straight ahead it will be nice if we know what is hashgraph first,
What is Hashgraph
From my understanding I will say hashgraph is a concensus method used to tender/offer a different approach by so doing distributing different ledger technology. We have have what is called a white paper this particular one have already explained itself if you ask me.
It is described as a data that is basically structured on a concensus algorithm thereby making it not to become a full complete system, to be specific it is not a full distributed ledger technology. The presentation comes as a swirld anyone without a license can't get access to it, we also have another one called Hedera Hashgraph
this one is a public hash graph all the hashgraph concensus it possess have great features, it gives the concensus algorithm basic utility and great features with little change in the ledger format. Maintaining high speed on it's connectivity solely depends on the gossip to gossip visual voting technique.
One key importance of hashgraph is that a provides a good and secure, fair, and efficient fast networking features. It is basically implemented using Java and Lisp language programing, in this case its support solidity one thing I came to like about hashgraph is the network speed it has.
Going back to the question I will explain in detail the gossip protocol used in hashgraph, hashgraph makes use of gossip protocol in order to send vital information that exist between different network nodes, there are concensus on different transactions shall.
Through the parent hashes gosip about gosip is genuinely history on how different invent which are related to each other, resulting through the parent hashes, acyclic graph (DAG) is directly involved in hashgraph.
The way different events relates to each other through their original hashes is called gosip about gosip, this history tend to show itself (DAG) of a graph of hashes or hashgraph it self, hashgraph keeps record of individual history of how many members that are communicated, many members keeps record of copies of hashgraph it will continue to get updated as a vital members sync interjecting one another.
Every event via hashgraph houses the following
✓ Timestamp
✓ double hashes of two event below it's self
Self-parent
Other parent
✓ Transactions
✓ Digital signature
Explain Tolerance to Byzantine fault on hashgraph
Byzantine fault tolerance is simply the properties of Byzantine fault tolerance which has a concensus algorithm, it further paves way for nodes of a particular network in order to agree a timing and order a set transaction fairly and it is secured too.
What Byzantine fault tolerance actually insinuate is that the word was derived from a hypothetical scenerio named Byzantine general problems this particular hypothetical scenerio initially was was officially developed in order to illistrate a scenerio in which it will help to avoid the mal-functioning of a distributed system, the author of the system must have a concerted strategy but good many of this authors are unreliable.
In this regard there are different flaws in the approach then we begin to ask some questions about the trust worthiness of some messages that are been shared, the question arises what if any of the messages is captured and along the process are replaced by another by maybe enermity words. By so doing wrong information can be shared and false informations too.
In this regard trust issues comes to fruition, it is very possible to ingnore the systematic way Byzantine general works, because everything will appear thereby trying to migrate to a consensus or come in a total agreement whether to transgress by attacking or retreat from the city that are sorrounded. The solution is trust, in Byzantine fault tolerance you will be able to trust, and the network will be acting fairly and squarely.
Make a comparerism between hashgraph vs blockchain, for voting process in your country Which technology will you choose and why?
Before we proceed, we should be able to understand the vital meaning of distributed ledger technology.
Distributed ledger technology is a network that acts on peers that tends to communicate with each other to reach a key consensus. In a DLT, every node in this regard has a copy of the ledger and is eminent in nature.
There are many DLTs out in an algorithm, we are going to talk about some today, i.e., Blockchain and Hashgraph. The key features of distributed ledger technology includes decentralization, security, transparency, integrity, and speed,However, not all DLT’s has what it takes to offer all the features.
In fact, DLT can also be effective to an extent in key integrity, transparency, and speed of execution. At the spore, and the distributed ledger technology (DLT), empowers major blockchain, and blockchain empowers bitcoin. it's very simple.
For voting process in your country Which one will you choose .
I'm from Nigeria I think it's very important I state this clear here, last two months federal government of Nigeria placed a ban on cryptocurrency exchanges Which means in Nigeria now before you can be able to sell your cryptocurrency it will be in the process of P2P transactions.
For voting process for me I will choose blockchain and my reasons are very simple.
Transparency
Blockchain is very transparent, and intense of voting I will really adopt using it because everything you do out there the transactions are been kept intact, althought in my country here we are yet to adopt any form of electronic voting method, but for me as a petrotic citizen I will surely suggest and like blockchain voting.
Efficiency and fastness
Anything be it transactions or voting as far as it is done on a blockchain it seems to be very reliable and fast, and in blockchain it is very difficult for any voting done there to be comprom by the third party or any one in such regard, let's say we have a minimum of ten votes registered in the blockchain the information remains stagnant you can't change it. But in an open balloting system the reverse is the case.
Low Transaction fee
Voting via blockchain for me is efficient as there is no huge transactions fee placed or charged to it as we all know nothing is free but extravagant charges isn't mandated here, now let's compare voting via blockchain and transacting via banks, a financial institution in this regard without even explaining further you know what I already means, financial institution charge you even when you didn't even transact with then, I'm speaking from a Nigerian point of view.
Explore Hedera Hashgraph links show screenshots
When you gain access to the Hedera hashgraph website you will find some fantastic features in there
Moving forward what you need do is to click on the three dashed of white at the right hand side, by doing this you are trying to explore those features that I earlier stated.
From the image uploaded all the things listed there are extrme very important I must tell you. And I shall explore some key features now let's start from the first one.
It will please you that in this you can mint and configure Different tokens, some people will be surprised but trust me that's why I'm here I will teach you further.
You can also verify timestamp and place an order too for different events.
What you need is to get started and trust me you will see some great features. And they are as follows.
In hashgraph all the features listed you can exploit then all. Let me venture into the second one. DEVs
In devs it offers exciting features and by so doing you will be condemed to learn various things. Learn core concept and by so doing you will review and API,
For more of it althought they are very plenty so I will be dropping the link here so that you can further figure it out for yourself just as the professor insisted the link must be dropped. Go to http://www.hederah hashgraph.com
Conclusion
Thank you very much professor @pelon53, I really appreciate you for this wonderful lectures of yours you really did a fantastic job.
Cc:@pelon53
Saludos, usted colocó: pelon-s2week8 y es pelon53-s2week8. Y por lo tanto no aparece en la lista. Gracias
Ooh. Sorry I have corrected it. Thanks for the observation