Crypto Academy Week 16 | Homework Post For @pelon53 | Hashgraph Technology

I am glad to participate in this wonderful lecture taught by professor @pelon53. The professor lectured on the topic Hashgraph Technology.

Explain in detail the Grossip protocol used in Hashgraph

Gossip protocol is a procedure of computer peer-to-peer interaction that is like the way epidemics spread. Some distributed systems use peer-to-peer gossip to ensure that data is spread to all members of a team. Some ad-hoc networks have no main registry and the only way to spread common data is to rely on each aim to pass it along to their neighbors. The word epidemic protocol is also used as a synonym for a gossip protocol, as gossip spreads information in a way like the spread of a virus in a biological community.

The history shows itself as a type of directed acyclic graph (DAG), a hashgraph. The hashgraph records the history of how aims interact. It grows eventually over time as more gossip syncs happen and events are created. All members keep a local copy of the hashgraph which carries on with the update as members sync with one another.

Hashgraph consensus uses a gossip protocol. The synchronization of information between two aims through the gossip protocol is called gossip sync. Each participating member recognizes the gossip sync with an occurrence. An event is saved in memory as a data structure comprises of a timestamp, an array of zero or more transactions, cryptographic signature, and two-parent hashes.

Advantages Gossip Protocol

• Since nodes can share and spread information with several nodes in the peer network, these protocol have the capacity to operate correctly.

• Gossip's protocols are very scalable. This is because it is possible to spread the information with a very efficient degree of performance.

• Gossip's protocol spread information in a totally decentralized and autonomous way.

In the Gossip Protocols, all nodes operate similarly and don't have a special or different function from each other.

Gossip Protocol types

• Broadcast protocol
  Information spread is those operate under group or multicast communication for the spread of information.

• Aggregation Protocol
  In aggregation protocol, the peer network nodes receive and process data, to send a summary of this message to the other nodes connected to the network.

Explain Byzantine Fault Tolerance in Hashgraph

Byzantine fault tolerant a technical term which means that no single node or little group nodes can stop the network from reaching consensus, neither can they change the consensus once it has been reached.

Byzantine Fault Tolerance is usually used in a weaker sense of opposition to harmful behavior by other consensus algorithms.

There are different level of BFT, depending on the speculations made about the network and transmission of information.

The strongest form of BFT is asynchronous BFT which means that the network can achieve consensus even if the harmful behavior are able to control the network and remove or slow down information of their choosing. The only speculations made are that more than 2/3 are following the protocol the right way, and that if information are repeatedly sent from one node to another over the internet, eventually one will reach, and thereafter another will, and so on.

The hashgraph consensus algorithm has been validated as asynchronous Byzantine Fault Tolerant by a math proof discovered by computer using the Coq system. The shows the claims stated in the hashgraph tech report that hashgrahp is Asynchronous Byzantine Fault Tolerance, mathematically the highest possible degree level of security for distributed systems.

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

• Security
  Blockchain and Hashgraph stand firm when it comes to security. Hashgraph uses asynchronous Byzantine Fault Tolerance to protect the network from malicious actors. Each of the occurrences is recorded correctly, and the approach makes sure that no data can interfere even when the network has some harmful actors.

Similar to blockchain, a transaction, one completed, can't be changed or adjust in any possible way. This also implies that it is secure from a 51% attack.

• Speed
  Blockchain's speed differ depending on the solution. It is relatively slower to Hashgraph. Hashgraph can get to a speed of 5,000,000 transactions per second but the speed may change depending on other factors. Blockchain cryptocurrencies such as Bitcoin, Ethereum, and the likes are considerably slow and can give a speed of only 100 to 1,000 transactions per second.

• Efficiency
  Hash graph is 100% efficient because of it approach. Blockchain's block technique makes it hard for miners to work on a block. There are times when two blocks are mined at the same time. This implies that the miners's community now need to settle on one block, which implies that the other block is abandoned. As Hashgraph does not have to rely on block creation, but only events, it does not suffer from a problem.

• Adoption and Development Stage
  When it comes to the adoption and development stage, blockchain defeat Hashgraph easily. Blockchain is close to a decade old, and it reaps the gain from the first to market while Hashgraphis not near to the adoption rate of blockain.

My Voting Choice in my Country and Why
I will like to adopt Hashgraph technology. Hashgrahy is very useful technology due to it scalability and speed. It will be very useful my country due to her large population of over 200 million citizen. It security is good advantage and it will be impossible for hacker or malicious malware to hurt the system. We also do not have to wait for collation of vote after voting after the voting exercise because the node would reach a consensus to give a valid result.

Explore Hedera Hashgraph. Show screenshots

The Hedera Hashgraph price statistics as at the time of writing. Herdera Hashgraph price is $0.2259, 24h low / 24 high is $0.2259/$0.2667, trading volume 24h is $302,914,244.44, market Dominance 0.12% and market rank #51.

Price as at June - 04 - 2021, 10:13am

• I will be exploring hedera.com from my mobile browser.

• Clicking the three paralle line at the top right coner shows the options available like Network, Dev, Use case, HBAR, Governace and about. See the screenshot below.
  

Network has the options of token Service that allows users to create fungible and non fungible token and Censensus service API for verifiable and order of any occurrance of application

DEVS

Under DEVS, we have some option like; Docs and Hedera SDK. Resources which has INTEGRATION- it permit users to integrate their existing application. FEES - it show the fee schedule given by the governing council.

USE CASE
Under use case, we have some options like Payment, Tokenized asset, Fraud Mitigation, Identity, Data Compliance, and Permissioned Blockchchain.

HBAR
This section has Overview, Account Creation, Wallects & Exchanges.

Governing Council
This section provide the information of the governing council of Hedera Hashgraph.

About
This section shows some sub-section like, team, Journey, Roadmap, User Group, Carreers, Media, Press, News, Blog and Papers. As see on the screenshot below.

Conclusion
Hashgraph has shown some advatages above blockchain technology with it efficiency, high speed, scalability and security. Though, blockchain have been around for almost a decade and has gain mass adoption yet with the speed and other advantages of Hashgraph could also gain mass adoption above blocking.
Thank You

Written by
@olaspecial