The Hashgraph is one of the most popular distributed ledger technologies and it is getting the recognition it deserves as a great alternative to the already popular blokchchain technology.
When it comes to distributed ledger, the hashgraph is simply an innovative technology that is fast, secure and more efficient than blockchain technology.
While blockchain technologies that can handle so many transactions per second, the Hashgraph Technology is known for its speed and its ability to handle thousands of TPS (transactions per second).
The Hashgraph is a peer-to-peer technology that utilizes the gossip about gossip as its consensus mechanism and the virtual voting system for faster transactions and security.
The hashgraph technology is seen as a great alternative to the blockchain technology with a lot of benefits, aiming to solve some of the shortcomings of blockchain technology.
The gossip protocol is one of the main aspects of the hashgraph technology. The gossip protocol is simply used by Hashgraph to reach consensus by sending information between the network nodes.
Gossip about gossip mechanism simply refers to the history of the various nodes events and how their relationship to each other. The DAG which is the short for directed acyclic graph is also known as the hashgraph. One of the main benefits of the hashgraph technology is that is secure and fast and peer-to-peer.
The gossip protocol is used by the Hashgraph distributed ledger technology to ensure a secure and fast consensus on the Hashgraph. The Gossip protocol relates to the history of how the network nodes have communicate with each other.
Simply put, the nodes don’t just talk to each other in the gossip protocol, the nodes also talk to each other about what the nodes were doing previously and the time it it happened. This is also referred to as gossiping about gossip.
Tolerance to Byzantine Faults in Hashgraph
The Byzantine Faults tolerance is an important aspect of the hashgraph. Tolerance to Byzantine Faults in Hashgraph simply states that there is no small group of members that can stop the community from reaching consensus on the hashgraph network.
Simply put, once the consensus on the network has been reached, no single member can change it. This is one of the strongest characteristics of the hashgraph and ensures that it is very secure. When it comes to the Tolerance to Byzantine Faults in Hashgraph, the asynchronous is one of the most powerful in the Byzantine Faults Tolerance.
In the Aynchronous Byzantine Faults Tolerance, not minding whether malicious actors have taken charge of the network, it can still reach consensus.
The assumptions made are that over 2/3 are following the protocol correctly but if messages are sent from one node to another continuously, one of them will finally go through, and the next one will follow suit. In the Asynchronous Byzantine Faults Tolerance, consensus has to be reached on the network before transactions are validated.