HASHGRAPH

Hashgraph is another type of distributed ledger which is decentralized and uses a directed acyclic graph ( an open source graph) to create a non concurrent Byzantine Fault-Tolerant algorithm.

Hashgraph isn't allowed to be used by all, it has only been authorized to be used by the Hedera hashgraph. It was released on July 2017 while the development started in late 2010 and was founded by leemon Baird. It offers speed, security, transparency and low usage of energy.

Hashgraph doesn't have mining activities but makes use of two aalgorith which is called "gossip about gossip" and "virtual voting" for it's transaction and doesn't form a block.

Hashgraph chose it's inspiration from blockchain but decided to make it more fascinating and better than blockchain.

GOSSIP PROTOCOL

A gossip protocol is a rule that enables highly secured, efficient, and fast dissemination of information between two persons or platform (P2P). In blockchain this protocol is used in disseminating informations in a fast manner between network nodes and it's reliable.

The name Gossip Came from the way rumors flies around quickly amongst people. The protocol originated from a research done by Dermers Alan and co in the study they published in 1987 named "EPIDEMIC ALGORITHM FOR REPLICATED DATABASE".

The protocol was adopted die to its operating system that allows large networks with high decentralization level.
The working principle of the gossip protocol is very simple. It has a basic concept in that for informations to be passed a cross to nodes, nodes are connected to it, when the information is passed from the protocol to the paired nodes the nodes also pass across the information gotten to other nodes they are paired with which forms a distribution chain.

The gossip protocol has selected pairs in which it shares information with so as to curb it from sending same type of information to the same node.

The main objective of the gossip protocol is to share information as fast as possible through a wide range network. It is very useful in blockchains because it disperse informations very fast thus not allowing information to be tempered in between.

Gossip protocol is further divided into two parts, which are listed below;

1. Aggregation protocol: this allows nodes receive and process infromations and then the node will send a summary of the information to other nodes paired with it and still keeps a record of the processed infromation. This is mainly used in distribution ledger technology

1. Broadcast protocol: This protocol is a grouped communication system which uses constant communication among network peers. Most times there are slight changes in the information shared amongst the peers.

Advantages and disadvantages of Gossip protocol

Advantages

1. Gossip protocol shares information in a decentralized method.

2. The protocol shares information very fast on the network.

3. Gossip protocol is highly scalable.

4. In gossip protocol, nodes don't affect each other in that when one node has an issue it doesn't affect the work of the other nodes.

Disadvantages

1. When there is an attack on the protocol or a malware is found on it. It can alter the accuracy of the information, this giving false informations to all nodes.

APPLICATION OF GOSSIP PROTOCOLS

1. They can be used to duplicate a database of an organization

2. It is used in blockchains or distribution platforms to spread informations or data.

Byzantine Faults tolerance in Hashgraph.

Byzantine fault tolerant also known as BFT is part of what makes up a hashgraph. BFT means that no node or peer network can hinder the other nodes from reaching an agreement, or try to change the agreement reached by the other nodes. Byzantine fault tolerance is part of what makes hashgraph special than blockchains.

A blockchain is a well known non-byzantine. When there is an issue with one of the nodes of hashgraph the information shared won't be stopped or it won't affect the operation of the platform.

There are different kinds of Byzantine fault tolerant, the strongest amongst them is the asynchronous Byzantine fault tolerant. Which means that it can reach an agreement when if there are problems affecting the Network.

Advantages of Byzantine fault tolerant.

1. It is ebergyvsahing unlike other consensus algorithm like proof of work.

2. There is no need for numerous confirmation of transaction on the BFT.

BFT works by having a primary node that's serves other nodes which are the secondary nodes. The BFT chooses a new primary node at the begining of each transaction. When a request is sent to the primary node, it accepts it and then sends the request to the secondary nodes, the nodes then perform the task given and sends back a request to the operator.

HASHGRAPH VS BLOCKCHAINS

Blockchain is a distribution ledger technology that was brought to limelight by Bitcoin when it was launched. A blockchain is built in such a way that the transaction carried out on it can not be edited. After each transactions, a new block is formed and it's chained with the former block which give it's name blockchains. It can be used for voting and in finance industry.

While

Hashgraph is also a distribution ledger technology using a consensus algorithm which is quite different from what is known in distribution ledger technology. It is reffered to as an incomplete project in it's white paper and hasn't granted public use of it. It is only used by herera blockchain the founder of the Hashgraph.

The hashgraph is designed in such a way that it has speed, highly secured and fair network.

Difference between Hashgraph and blockchain

Blockchain stores data in blocks unlike Hashgraph that stores data in a open graph called directed acyclic graph.
It is hard to breach their security but the blockchain are immutable, whenever there is a breach the system alerts the nodes immediate.

While hashgraph uses BFT which still continues processing information when a nose is attacked.
Hashgraph is a consensus itself,it uses virtual voting for her user while Bitcoin doesn't have consensus built with it. It depends on cryptos to have a consensus mechanism like proof of work, proof of stake etc.

Hashgraph is known for its speed which is far greater than that of blockchain, if a blockchain processes 2000 transaction per seconds a hashgraph can processes up to 500,000 transactions per seconds.

For a voting process in my country I will prepare the use of the Hashgraph consensus because of the speed, fairness and highly secured manner at which it works. Even when a node gets affected it doesn't mean the work will stop, it will continue work and this is needed in a voting process so as not to disturb the voting process.

Exploring Hedera

Hashgraph(https://hedera.com/)
Hedera hashgraph is a distributed ledger technology platform that allows peer to peer interaction and allows them to transact online in a more secured and efficient method in a decentralized way.

After loading the web link on your browser the homepage will be displayed.

To see more features available on the homepage click on the 3 horizontal line at the top right corner.

The available features on the hedera hashgraph website are the network, Devs, Use cases, HBAR, Governance and about. Let's look at what they entail below.

NETWORK

This feature contains the services that are rendered by the platform. Ranging from the token service to the consensus service and many more that are shown in the screenshot below.

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DEVS

This feature shows more about the development of the project. It gives more information about the project in documents and online resources also.

USE CASES

This features shows how the hedera hashgraph can be used in various ways and sectors.

HBAR

This is the native token of the hedera hashgraph consensus which is used to power the platform.

The features shows everything that needs to be known about the token. Where to purchase and how to store.

GOVERNANCE

This are the companies or investors that has shown interest in the hedera hashgraph project.

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