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#Binance #ByzantineFaultTolerance
Byzantine fault tolerance is important in the context of blockchain technology.Byzantine fault tolerance refers to a system's ability to continue functioning properly even when some of its #nodes or components fail or act malicious.
Byzantine fault tolerance is important in the context of blockchain technology.Byzantine fault tolerance refers to a system's ability to continue functioning properly even when some of its #nodes or components fail or act malicious.
Full Explained : Hashgraph (Must Read.....)
Hashgraph is a new consensus algorithm that promises to revolutionize the way we think about distributed ledger technology. Developed by Swirlds, Hashgraph is a novel approach that uses a combination of gossip protocol and virtual voting to achieve fast, secure, and fair consensus without the need for energy-intensive proof-of-work algorithms.
What is Hashgraph?
Hashgraph is a consensus algorithm that uses a combination of gossip protocol and virtual voting to achieve fast, secure, and fair consensus among nodes in a distributed network. The gossip protocol is used to spread information about transactions and events to all nodes in the network, while virtual voting is used to determine the order of transactions and events. Unlike other consensus algorithms, such as proof-of-work and proof-of-stake, Hashgraph does not require energy-intensive mining or staking.
Features of Hashgraph:
Fast Consensus:
Hashgraph achieves fast consensus by using a combination of gossip #protocol and #virtual voting. The gossip protocol ensures that information about transactions and events is spread quickly and efficiently across the network, while virtual voting allows nodes to determine the order of transactions and events without the need for energy-intensive mining or staking.
Secure Consensus:
Hashgraph achieves secure consensus by using a novel approach called "asynchronous Byzantine fault tolerance." This means that the algorithm can tolerate a certain number of malicious #nodes without compromising the security of the network. In addition, the use of virtual voting ensures that the order of transactions and events is determined fairly and transparently.
Fair Consensus:
Hashgraph achieves fair consensus by using a novel approach called "virtual voting." This means that each node in the network has an equal say in determining the order of transactions and events, regardless of the node's computing power or stake in the network. This ensures that the network is #decentralized and fair.
Potential Applications of Hashgraph:
Financial Transactions:
Hashgraph is well-suited for financial transactions, as it can achieve fast, secure, and fair consensus without the need for energy-intensive proof-of-work or proof-of-stake algorithms. This makes it an attractive option for banks and financial institutions looking to streamline their transaction processing and reduce their energy consumption.
Supply Chain Management:
Hashgraph can also be used for supply chain management, as it can provide a transparent and secure record of the movement of goods and services through the supply chain. This can help to reduce fraud and increase efficiency in the supply chain.
Voting Systems:
Hashgraph can also be used for voting systems, as it can provide a secure and transparent method for counting votes. This can help to reduce the risk of voter fraud and increase confidence in the electoral process.
Final Words:
In conclusion, #Hashgraph is a promising new consensus algorithm that has the potential to revolutionize the way we think about distributed ledger technology. Its fast, secure, and fair consensus mechanism makes it well-suited for a range of applications, including financial transactions, supply chain management, and voting systems. As the technology continues to evolve, it will be interesting to see how it is adopted and implemented in different industries and use cases.
What is Hashgraph?
Hashgraph is a consensus algorithm that uses a combination of gossip protocol and virtual voting to achieve fast, secure, and fair consensus among nodes in a distributed network. The gossip protocol is used to spread information about transactions and events to all nodes in the network, while virtual voting is used to determine the order of transactions and events. Unlike other consensus algorithms, such as proof-of-work and proof-of-stake, Hashgraph does not require energy-intensive mining or staking.
Features of Hashgraph:
Fast Consensus:
Hashgraph achieves fast consensus by using a combination of gossip #protocol and #virtual voting. The gossip protocol ensures that information about transactions and events is spread quickly and efficiently across the network, while virtual voting allows nodes to determine the order of transactions and events without the need for energy-intensive mining or staking.
Secure Consensus:
Hashgraph achieves secure consensus by using a novel approach called "asynchronous Byzantine fault tolerance." This means that the algorithm can tolerate a certain number of malicious #nodes without compromising the security of the network. In addition, the use of virtual voting ensures that the order of transactions and events is determined fairly and transparently.
Fair Consensus:
Hashgraph achieves fair consensus by using a novel approach called "virtual voting." This means that each node in the network has an equal say in determining the order of transactions and events, regardless of the node's computing power or stake in the network. This ensures that the network is #decentralized and fair.
Potential Applications of Hashgraph:
Financial Transactions:
Hashgraph is well-suited for financial transactions, as it can achieve fast, secure, and fair consensus without the need for energy-intensive proof-of-work or proof-of-stake algorithms. This makes it an attractive option for banks and financial institutions looking to streamline their transaction processing and reduce their energy consumption.
Supply Chain Management:
Hashgraph can also be used for supply chain management, as it can provide a transparent and secure record of the movement of goods and services through the supply chain. This can help to reduce fraud and increase efficiency in the supply chain.
Voting Systems:
Hashgraph can also be used for voting systems, as it can provide a secure and transparent method for counting votes. This can help to reduce the risk of voter fraud and increase confidence in the electoral process.
Final Words:
In conclusion, #Hashgraph is a promising new consensus algorithm that has the potential to revolutionize the way we think about distributed ledger technology. Its fast, secure, and fair consensus mechanism makes it well-suited for a range of applications, including financial transactions, supply chain management, and voting systems. As the technology continues to evolve, it will be interesting to see how it is adopted and implemented in different industries and use cases.
Run 4 NODES in Small VPS.
💡I thought RUNNING NODES is very hard and need to have programming language skills, but I did learn it in just span of 3 weeks.Let me share you a very good tutorial, to practice on running NODES.Bonus a cheap server + free guide. 👇Run 4 nodes in Small VPS. Order Small VPS:(Use Euro currency for cheaper price)https://www.dpbolvw.net/click-101022435-13484374Log in your VPSVideo Tutorial:https://youtu.be/IKsKm2w3NSQ?si=pqblMd_sBchuAXoLGaganode - Arkeo - Meson - AvailAlways use Screen every set up to continue run apps in the background.apt install screen <---- install screen if neededscreen -S gaga <--- sample command 1. Gaganode Register: https://dashboard.gaganode.com/register?referral_code=ghbryxrsxjrcqvbInstallation:sudo apt-get update -ysudo apt-get upgrade -yufw enable <------- if enabled already, use allow next in adding port no need to 'ufw enable'ufw allow 22ufw allow 443Follow guide here, copy and paste (Linux 64 bit):https://dashboard.gaganode.com/install_runCheck dasboard on website if running.2. Meson Node:sudo apt-get update -ysudo apt-get upgrade -yufw allow 22ufw allow 443Follow guide here, copy and paste (Linux 64 bit):https://dashboard.meson.network/user_nodeCheck dasboard sa website dun if running.3. Arkeo:sudo apt-get update -ysudo apt-get upgrade -yufw allow 26656ufw allow 26657ufw allow 9091ufw allow 9090ufw allow 6060ufw allow 1317Installation: https://nodes.guru/arkeo/setup-guide/enFull instruction in the website read carefully)Save all details especially the seedphrase.Get faucet here: https://discord.gg/BfEHpm6uFcNeed to stake 900+ to become a validator then continue to run you nodes.Check your validator here: https://testnet.arkeo.explorers.guru/4. Avail:sudo apt-get update -ysudo apt-get upgrade -yufw allow 303331. Install here: (Fill up what's needed)wget -O avail-auto.sh https://raw.githubusercontent.com/thenhthang/vinnodes/main/Avail/avail-auto.sh && chmod +x avail-auto.sh && ./avail-auto.sh2. Whole downloading do other task.https://forum.availproject.org/t/guide-find-yourself-set-your-on-chain-identity-challenge/3123. After installing use this command.sudo systemctl start availd.serviceCheck status here need to finish syncing:journalctl -a -u availd4. You can now check your name here:https://telemetry.avail.tools/#/0x6f09966420b2608d1947ccfb0f2a362450d1fc7fd902c29b67c906eaa965a7aeFinish Quest here:https://docs.availproject.org/clash-of-nodes/challenges/Don't forget to fill up Avail Form:Full Node:https://docs.google.com/forms/d/e/1FAIpQLScvgXjSUmwPpUxf1s-MR2C2o5V79TSoud1dLPKVgeLiLFuyGQ/viewformLight Client:https://docs.google.com/forms/u/0/d/e/1FAIpQLSeL6aXqz6vBbYEgD1cZKaQ4vwbN2o3Rxys-wKTuKySVR-oS8g/formResponse4 in 1 nodes for just 4.50 euro a month + one time set up fee(can be free if have promo)https://www.dpbolvw.net/click-101022435-13484374Credits to Sir Michael, Sir William for research and other team paldogz-Cryptobike#nodes #web3 #vps #howtorunnodes #linux
