Crypto Academy Week 16 - Homework Post for @pelon53

It's has been an amazing week and the lesson unfolds the scope of Hashgraph technology which is seen to be an alternative to Blockchain systems that means they are solutions to some failures of Blockchain networks examples are Efficiency and Security

I am @kelechisamuel and this is my homework post for @pelon53.

source

GOSSIP PROTOCOL

The gossip protocol works like a real life gossip scenario for instance Mr A gets an information he tells Mr.B and goes around spreading it to as many as he can see same for Mr.B as soon as he receives the information, he spreads it exponentially to as many as he can this circular continues until everyone gets to hear about it

The nature of work of this technology also is explained in the lesson and we see its scope to be likened to a situation of data communication with different nodes and interaction with each other and their storage being in events .

The original base of the Hashgraph also entails the Directed Acrylic Graphics (DAG) with it's main basis as the Distributed Accounting (DLT) .
We could also deduce from this Hashgraph technology that miners in the process of information ascertaining ,isn't cogent instead this Hashgraph uses a Consensus Protocol mainly on virtual voting which has it's roots/support in the GOSSIP PROTOCOL

The Gossip Protocol mainly is used in the dispersion of workers data faster and more efficiently via the connection lines during the interaction from system to system .

In a Hashgraph system we could also liken the Gossip Protocol to a disease break over a particular place , which would be very fast in spread and get to more people which is is the exact way the gossip Protocol connects with the nodes and in this way we could have vast informations disseminated around the blocks .
Rationally, the Gossip Protocol harnesses this mechanism to build more consensus and create more of awareness of the details of the hashgraph

Hashgraph technology which on the other hand, maintains records of all the nodes that information were received into and even the ones being added to

Tolerance to Byzantine Faults in Hashgraph.

In the calculations of the various advantages of the Hashgraph networks , one of the major factors we have in consideration includes security and the major factor in the Security process is the Byzantine Faults Tolerance.

Asynchronous Byzantine Fault Tolerance
This Asynchronous Byzantine Fault Tolerance makes the Hashgraph technology an intense secure technology by several actions taken by it including it's ability to restrict hackers or people who want to manipulate other people's system data since the transactions are irreversible once granted.

They allow true nodes of a network to ensure and accept the lapses and order of a group of transactions very securely and fairly .
Irrespective of the fact if there are nodes maliciously trying to stop the consensus for example even if one third of the nodes are corrupted, the Asynchronous Byzantine Fault Tolerance helps to maintain the security of the network

Basically, its Asynchronous nature , makes it easily overcome an obstacle of fault tolerance which include time . for example , Byzantine Fault tolerance allows for tons of messages coming while it's Asynchronous nature makes the unconfirmed messages that would leave the system too ambiguous , permanently delete or indefinitely kept waiting

Hashgraph Vs Blockchain

Deductions from the lesson could see a comparison between the Hashgraphs and Blockchains and one being a solution to one of the failures of another.

Here I will have to compare the both of them for a voting process in my country while I state the one I would decide to go for and why.

Firstly we get to understand that these are two major forms of Distributed ledger technologies but do not serve all same purposes or do not possess all same features.

We see the BLOCKCHAIN as a decentralized system of ledger technology that stores transaction records in blocks and gives their users allowance to use them all over the platform. We see transactions added on the block forming blocks and chains until records which are unchangeable are formed . While on the other hand ,we have HASHGRAPHS are data facts or Consensus algorithm that uses concepts like the Gossip Protocol and the Virtual voting for more efficiency and Security.

It's speed to perform transactions and are renowned and it's ability to perform millions of transactions

TABULAR COMPARISON BETWEEN HASHGRAPH & BLOCK CHAIN

COMPONENTS	HASHGRAPH	BLOCK CHAIN
SYSTEM	PATENTED	OPEN-SOJRCE
TRANSACTION SPEED	USES GOSSIP PROTOCOL	USES HYPERLEDGER
EFFICIENCY	100% EFFICIENCY	DIFFICULT FOR MINERS NOT SO EFFICIENT
CONSENSUS SYSTEM	USES VIRTUAL VOTING	USES PROOF OF STAKE OR PROOF OF ELAPSED TIME
LANGUAGE	JAVA and LISP	MULTIPLE LANGUAGES
SECURITY	Asynchronous Byzantine Fault Tolerance	Cryptographic Hashing
ACCESSIBILITY	CAN BE PRIVATE OR PUBLIC	CAN BE PRIVATE OR PUBLIC OR HYBRID

VOTING PROCESS IN MY COUNTRY

Just a reminder I am @kelechisamuel and my country is Nigeria, my country electoral system is really poor as we are not yet digitalized and we still use a manual mechanism to cast our votes so if for example the Covid-19 period encroach in Nigeria's election period and it is to be handled with proper covid 19 rules that is making sure that persons don't over haul each other and everything is to be done online , there would need to implore a platform.

Therefore I would implore the HASHGRAPH technology for the following reasons ;

• The Patency quality of HASHGRAPH ;
  The Hashgraph remains a patented Algorithm that is it has a sole right to carry out it's platform activities owned by people known as the Swirlds therefore any other person who wants to interfere into the system or rig the elections through the system would not have the ability to do so while on the other hand Blockchain have open sources which with many people contributing to the structure building of the Blockchain, therefore giving many people access to it .

• Extreme fast transactions ; One of the results of the Hashgraphs could be seen to be it's fast nature ie the use of it's protocol known as the Gossip Protocol as shown in the lesson to provide transaction fastness/speed as it can handle up to 500,000 transactions per second which would be fitting more especially for a country with hundreds of million population like Nigeria unlike the Blockchain that has it's speed based on the different coin platforms and having speed of 100-10,000 per second which is relatively slower than the Hashgraph

• Efficacy /Stronger input : Normally, Blockchain basis make it a bit hard for miners to do actions on it meaning that , for two miners to more to perform actions on a block they need agreement therefore rendering any other block null and wasted while Hashgraphs do not work like that rather , all the resources are properly harnessed and used well by the gossip Protocol which would be a major plus in the Election process since no vote needs to be counted out in the process

• **Their Consensus Protocol ; ** With the Hashgraph platform , there aren't various platforms needed to perform the task involved unlike in maybe the Blockchain where there are different algorithm like Proof of work , Proof of elapsed time etc .Therefore in a place where there are numerous number of users , cost would be saved by the use of the Hashgraph
  Therefore with the following points of mine ,I can deduce that the Hashgraph would be a better way of conducting an online voting work for faster, easier and more efficient results in it

HEDERA HASHGRAPH WEBSITE EXPLORATION

• The Hedera Hashgraph brings us to a platform with a dark blue background and a web like rotating icon and a list of partners below the platform

• Over the top of the screen we see a three hyphen icon that's the main menu button we see the main options and we click on it and see the Network , Devs, Use cases , HBars , Governance and About

• On the Network ,we see a platform that gives options for Token services ie Minting of tokens on the website,and configuration of accounts including verification services there are also information tact's on how to effectively use to the services , view things on it and others

• This unveils the Dev part of the that shows /enlightens on basic settings and documentations on the platform including service cost , proposals etc

• The Use Cases shows a complete control of the platform including payment , identification and even record controls. They even give transaction sureties to help in proper harnessing of ledger transactions

• H-Bar This overview give understanding of the token of the Hedera website and even giving understanding of creating an account on it and making exchanges

• Governance This part shows a set of constitutional knowledge of the platform clearly stating the composition of the Hedera Hashgraph and it's right and user rights too including world partners too

• the last icon which is the about shows the the other subs of the website giving the team journey , missions of the website and all including the media aspect and blogs too

CONCLUSION

It was an interesting lecture for me because I really learnt a lot and knowing that there the hashgraph is complimenting the lapses made by the block chain platform is soothing as regard, speed, system and much more. It's a lovely platform and should be implored by many

Thanks for reading I am @kelechisamuel

Cc
@pelon53