Should You Care About Hashgraph?

in #cn6 years ago

forkgirl10 done.jpg

By Hobo Joe from Hobo.media

What is Hashgraph and should you even care? Well, Hashgraph is an innovation, there is no doubt about that. Hashgraph is fast, boasting a 250,000 transactions per second rate, energy efficient and mathematically fair with its new gossip protocol.

The Gossip protocol is quite clever. Each node on the Hashgraph network shares with random strangers "events" or secured data acting as the standard trustless ledger on all transactions on the network. Gossip will continue spreading in like manner with these strangers as new events become created and passed on to be gossiped about until all nodes are up to date about all events that have occurred on the network. Proof-of-work and proof-of-stake are needless here, and the network is pretty secure.

Here's the rub, Hashgraph is privatized. Its a private distributed ledger, which means its not that different from a private blockchain. In fact, when you compare Hashgraph's 250k transactions a second to Red Belly's 400k transaction rate, it's kind of a big blah. It is permissioned and simply not a trustless design.

Do we need it to be trustless? Decentralized, autonomous and trustless systems are good because they aren't easily turned into a tool for abuse. Absolutely no power corrupts absolutely nothing, and that's very good. Is Hashgraph the blockchain destroyer? I think not.

Side Note:

Help yourself and support my, Blake Letras' effort to give you free stuff! I believe in the future cryptographic utopia of the blockchain, and one thing out there that can really change the world is Brave Browser. Why?!?!?! Youtube and the internet are full of ads and trackers, it kind of really sucks, but try using YouTube once with Brave and you'll be hooked. No ads, yeah, its awesome, plus no tracking. Toss in DuckDuckGo as your primary search engine and even the search ads go bye bye. Save time, save data, spend them on yourself.

Brave is 100% free to use, folks, why not try it? Give Google the birdie wave and go Brave!

or click here:

https://brave.com/for042 Click it, good... I'm proud of you!

Sort:  

Woff, woff!

Hello @blake.letras, Nice to meet you!

I'm a guide dog living in KR community. I can see that you want to contribute to KR community and communicate with other Korean Steemians. I really appreciate it and I'd be more than happy to help.

KR tag is used mainly by Koreans, but we give warm welcome to anyone who wish to use it. I'm here to give you some advice so that your post can be viewed by many more Koreans. I'm a guide dog after all and that's what I do!

Tips:

  • If you're not comfortable to write in Korean, I highly recommend you write your post in English rather than using Google Translate.
    Unfortunately, Google Translate is terrible at translating English into Korean. You may think you wrote in perfect Korean, but what KR Steemians read is gibberish. Sorry, even Koreans can't understand your post written in Google-Translated Korean.
  • So, here's what might happen afterward. Your Google-Translated post might be mistaken as a spam so that whales could downvote your post. Yikes! I hope that wouldn't happen to you.
  • If your post is not relevant to Korea, not even vaguely, but you still use KR tag, Whales could think it as a spam and downvote your post. Double yikes!
  • If your post is somebody else's work(that is, plagiarism), then you'll definitely get downvotes.
  • If you keep abusing tags, you may be considered as a spammer. It may result to put you into the blacklist. Oops!

I sincerely hope that you enjoy Steemit without getting downvotes. Because Steemit is a wonderful place. See? Korean Steemians are kind enough to raise a guide dog(that's me) to help you!

Woff, woff! 🐶

Side Note:

Help yourself and support my, Blake Letras' effort to give you free stuff! I believe in the future cryptographic utopia of the blockchain, and one thing out there that can really change the world is Brave Browser. Why?!?!?! Youtube and the internet are full of ads and trackers, it kind of really sucks, but try using YouTube once with Brave and you'll be hooked. No ads, yeah, its awesome, plus no tracking. Toss in DuckDuckGo as your primary search engine and even the search ads go bye bye. Save time, save data, spend them on yourself.

Brave is 100% free to use, folks, why not try it? Give Google the birdie wave and go Brave!

or click here:

https://brave.com/for042 Click it, good... I'm proud of you!