Hashgraph – REVIEW – A new distributed Consensus! 500,000 TPS! MASSIVE GAINS! 166.67X Potential!

by birtanpublished on September 14, 2020

So we're gonna talk about hash gap today this is a comprehensive review but it's not so focused on the techie side I don't want to bore you guys to death what I'll be discussing those that I'll be defining hash graph talk about the platform or problems of solving

Performance specs its security governance regulatory compliance how hash graph works gossip protocol virtual voting I'll be comparing blood chain vs hash graph token utility team hash graph use cases price predictions and my final

Thoughts first and foremost guys this is not financial advice always do your own research and make your own decisions so let's get into it hash graph is a new form of distributed

Ledger technology which enables a network of nodes to communicate with each other and reach consensus on transactions in a decentralized way so does that sound familiar well it should since that's the purpose of blockchain

However hash graph utilizes a unique consensus algorithm with gossip to gossip and virtual voting protocols the white paper describes hash graph as a state machines with guaranteed by santal followings and claims to be faster and

Fairer and more secure than existing consensus mechanisms hash graph tackles the scalability efficiency and security issues faced by the blockchain that restricts mainstream adoption what is the hash graph platform swirls

The company behind hash graph recently launched at deira hash graph which is described as a Governing Council and public hash graph network in a nutshell it is the public ledger of their patented hash graph technology the

Platform is lightning fast secure fair and requires very little computational power to maintain the network it opens the door for anyone to run an own user device and develop apps on the platform without the need of licenses however

Swirls did decide to patent the hash graph technology to prevent people from using their technology to create competing Ledger's in some instances they may grant licenses for others to create private permissionless Ledger's

If they deem the purpose legitimate hadera is built on top of her permission hi scraf consensus platform that was used for enterprise applications the team recently announced the resurfaces to be provided in the hadera hash graph

Platform with the first being cryptocurrency and micro transactions a second distributed file storage system and a third solidity smart contracts backed by the theorem virgin machine what problems does hash graph

Tried to solve the platform attempts to resolve the issues that restrained the mainstream adoption of distributed ledger technology with the first being performance hash graph claims to be lightning-fast limited only by network

Bandwidth meaning nodes are competing very fast to decide which transactions get processed first it enables hundreds of thousands of transactions per second with low latency which means consensus will be reached in seconds the company

Also disclosed their public Ledger's recent performance tests achieving a throughput of 50,000 transactions per second while consensus reach in 2.5 seconds using 32 computers across a global regions when the test was

Constrained to only one continent one region the speed increased 500,000 transactions per second at approximately the same latency in contrast the Bitcoin network can only handle seven transactions per second whereas visa

Averages around 2000 transactions per second these network capabilities pale in comparison to hash graph speed security hash graphs consensus algorithm asynchronous Byzantine fault tolerance claims to be the gold standard of

Security compared to other options in a nutshell a DFT prevents members from stopping community consensus or changing the records after consensus breach it allows the networks to tolerate any number of fault nodes given that fewer

Than one third of nodes are attackers once consensus has been reached the community knows in real time that is assured that consensus cannot be compromised asynchronous Byzantine fault tolerance

Provides resiliency to DDoS attacks firewalls and malicious nodes even if some of the computers in the network shut down also it is more secure than blockchain because it provides a sense of finality

When consensus is reached instead of gaining confidence over time furthermore it addresses some of the concerns related to fairness in the distributed systems using mathematically proved fairness VA consensus timestamp to

Establish a consensus collectively and demócrata FLE by a voting process fairness is described in three aspects there should be fair access no individual member can manipulate the flow of transactions entering the

Network due to the nature of gossip protocol in addition hash graphs they prove prevents faulty nodes from lying about transactions the second type of fairness is fair timestamps hash graph assigns a

Consensus timestamp to each transactions which reflects the truth timestamps that a tree the majority of the network each member reports the time at first received the transaction and a median time it was

Chosen the last part of fairness is fair ordering this is achieved by virtue of fair time stamp assignment process for transactions governance according to the white paper there are two governance models in the Adair hash graph

Permission governance model and open consensus according to the government model the distributed governing body that upholds the principles of decentralization stability and trustworthiness the council government

Model is a distributed governing body that upholds the principles of decentralization stability and trustworthiness the council consists of up to thirty nine reputable organizations across five continents

Whose responsibility is to overlook the operation of public platform it is similar to the board of directors of a public company this also prevents a consolidation of power meaning that no single member or group can have too much

Control over the body the consensus model is the process that allows anyone who wants to run a node to join the network help maintain consensus and be rewarded for their services the team expects the number of nodes to grow

Rather quickly eventually having millions of nodes and in network stability hadera hash graph claims to keep the platform stable using technical and legal controls to handle the forking this means that there will be no

Competing platforms to create confusion and uncertainty in the marketplace in my opinion that is a very good feature because I hate all these Bitcoin Forks that you see like there's like 20 different ones you know think of all

That time and energy was spent in to making Bitcoin better itself I just think that the all these Forks are cash grabs I've never bought one so let's continue in the hadera hash graph the technical controls ensures two

Capabilities first the software client can validate the pedigree of the hadera hash gar pride to use through a shared state mechanism estate consists of all the files stored crypto balances and smart contract execution results a

Shared state ensures that the nodes give verifiable information that represent the consensus state of the full network and no bad actor can compromise it it also prevents a note from forking the original hash graph making changes and

Pushing it to the network as valid second it also ensures that any software changes made by the hadera governing body are specified in the network automatically updated and guaranteed that they're legit anyone where invalid

Suffer would not be a to modify the hash graph legal controls on the other hand ensures no forking happens to create competing platforms or cripples against the hadera hash graph although the codebase is open-source

Updates can only be made by hadera through the consent of the Governing Council since the hash graph technology is patented teams who want to create a permissioned Ledger's based on the tech are required to obtain a license however

No license is required for apps that run on the Darren Network and associated native tokens regulatory compliance according to the website Adair offers an optional identity mechanism that gives you the freedom to bind verified

Identities to otherwise anonymous cryptocurrency wallets this means that a dare enables kyc AML compliance which is necessary to achieve mass adoption and time where governments continue to add cryptocurrency regulations

How does hash graph work the hadera hash graph consensus algorithm is based on the cause of protocol and virtual voting for gossip protocol hadera consensus uses gossip protocol to spread information among the network of

Computers quickly and efficiently it allows a node Alice to randomly choose and execute all the information she knows so far with another node Bob in the network this process is repeated across the network and increases in

Speed exponentially until everyone in the community is aware of the given information so figure 1 was adapted from that dare hash graph white paper it describes the gossip history as a direct graph which represents the actual

Data structure each event which represents the circles records the fact that Alice has performed a gossip sync by sharing everything she knows what Bob an event contains a set of transactions the hashes of two events below itself a

Digital signature of its creator and a timespan this process of connecting events repeats continuously growing the graph upwards and forever instead of gossiping a transaction alone the gossip protocol allows for gossip

About gossip meaning historical communication is gossip as well in this case members who have slightly different versions of the new events near the top can quickly converge by continuously gossiping with each other eventually all

The members will share the exact same offense lower down the hash graph this protocol helps optimizes the communication process ensures consistency and ensures the ability to scale the network virtual voting based

On the concept of voting hash graph uses a more sophisticated mechanism called virtual voting which achieves strong guaranty is more efficiently it enables the network to run a voting algorithm at

Scale while actually sending voting messages as I explained previously the gossip protocol allows members to have a copy of the hash graph meaning the full picture in the history of all transactions are shared amongst nodes

Therefore it allows them to calculate a total order of events according to any deterministic function of that hash graph to get the same answers each node can reach an agreement on the validity of transactions if it knows that the

Majority of the network witnessed that transaction happening at that particular time the algorithm has several benefits such as providing greater transparency and honesty amongst the knows while using a very little bandwidth so next

We're gonna compare blockchain versus hash graph we're gonna look at their characteristics and compare them the network structure of blockchain has a chronological chain of blocks like a tree that has consistently pruned as it

Grows however hash graph is a directed graph like a tree with branches woven back into the body just like how this picture is shown the mode of operation of blockchain is open source permissionless public or private the

Mode of operation of hash graph is open source for viewing open consistence and permission governance public or private the consensus model of blockchain is proof of work and proof of stake hash graph has a gossip protocol and virtual

Voting the transaction finality of blockchain is probabilistic hash graphs is immediate both blockchain and hash graph has a trust List model the performance of blockchain is slow while the performance of hash graph is fast

Blockchain is very expensive and inefficient to maintain while hash graph is sufficient and cheap there's not a lot of fairness on blockchain hash graphs claims to be fair blockchain is not time-stamped hash graph is the

Security of blockchain is medium while the security of hash graph is high block chain is not Byzantine tolerant while hash graph is blockchain is not acid compliant hash graph is blockchain and hash graph for both d OS resistant there

Is forking allowed and blockchain while there's no forking allowed and hash graph and with regards to decentralization is very questionable with blockchain because of the proof of work and all these miners working

Together to take the majority of the rewards hash graph however claims to be decentralized however me personally I don't agree performance token and utility hash graph has his own native cryptocurrency which

Is a utility token you to feel the ecosystem there are three associated fees in the platform that the token holders need to pay including transaction fees node fees service fees and access to distributed apps the

Hadera hash graft platform also uses proof of stake which is a proxy of staking instead of delegated proof of state token holders can state their cryptocurrency used to running a node and be rewarded accordingly let's take a

Glance at three of the team leaders the team is led by lehman bird and manse harmon bird is the inventor of the hash graph algorithm he has 20 years-plus anatec and startup experience and has a PhD in computer science from Carnegie

Mellon Harman is also a seasoned an executive with extensive leadership experience in both government agencies and tech startups both cofounders have been working together for over two decades

They found two other tech startups together before swirls and Hadera and it's also important to note that the advisors of a team includes some well-known influencers in the blockchain and tech space hash graph used cases

According to the website hash craft technology has been used by several private enterprises in health care game financing entertainment and government it opens the door for some exciting distributed ledger application to be

Developed such as micro transactions online collaboration auctions and distributed identity directories my final thoughts hadera hash graph is revolutionizing the world of distributed technology by using a few key

Technologies such as asynchronous buys into you fault-tolerance proxy staking virtual voting and gossip protocol which enables a fast fair and secure Network it is interesting and so far that the open consensus allows

Anyone to participate in a network and develop apps using its technology without licenses however it is somewhat centralized since hash graph is patented moreover even though it claims to resolve the scalability issues hash

Graph only demonstrates the solution to scale the number of transactions which is only a part of the puzzle a question still remains as to whether it can scale the number of nodes in the network which is a small number at the moment last but

Not least the underlying technology in the Dera hash graph is indeed game-changing but superior technolon may not guarantee its adoption since other forms of distributed ledger technology such as blockchain can continue to

Improve as well it is too soon to draw a conclusion but for one myself and many other people excited to see what they can make of it all hash graph has a bright future now let's look at the price prediction why I think the hash

Graph will easily be in the top two cryptocurrencies for 2018 based on this evidence right here if you go to this website here coin correlate calm it splits up the different classifications of cryptocurrencies

According to market caps obviously the majority of the total market caps and all the cryptocurrencies are dominated by smart contract platforms which is your aetherium eos cardinal etc next is privacy

The third is directed acyclic graph now hash graph is not a directed acyclic graph however it's a similar technology competing with those smart contract platforms and directed acyclic graphs which is why I think hash graph could

Easily be between where iota is and nano so let's look at coin market cap and see where iota and nano are iota is ninth place and I think Nano is xxx yes xxx so somewhere in between there if I'm just gonna take a wild guess

I think hash graph could be 1314 even higher with close to 3 billion market cap let's make that a round number and say I think hash graph can easily have a 3 billion dollar market cap by the end of 2018 if it releases soon if they wait

To the end of year to release it and that's a different story but if it released at any time within the coming months this summer I think it could easily get a three billion dollar market cap so on I see oh drop the explain that

Hash graph raised 18 million dollars if hash graph can reach a three billion dollar market cap that's gonna be a 166 X profit that is a bold prediction that's my prediction

Well it reached their time motel and you also have to note that this is not taking in consideration all the new money that's gonna be injected into cryptocurrency right now so right now we're sitting just under four hundred

Million dollar market cap we really don't know how big this thing's gonna grow but it's predicted to get a lot bigger so the profits and hash graph could be a lot bigger but for now I'm stating 166 X so this was my little hash

Graph presentation this is k7 from crypto pedia we got more news and crypto refused to come and I'm out

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