RE: The Blockchain Just Became 😨 Obsolete 😨, the Future is Hashgraph... or NOT?! 😎

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RE: The Blockchain Just Became 😨 Obsolete 😨, the Future is Hashgraph... or NOT?! 😎

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nutela (61)in #steemit • 7 years ago

Going from Leemon Baird, everyone get's the whole state eventually and since the messages are so small it could work for just currency. Bigger apps might be problematic but you don't have to save the whole state.

And they have Java apps for you to play with @alexpmorris also a little stock exchange thingie ;)

5th video with Leemon about HashGraph

7 years ago in #steemit by nutela (61)

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alexpmorris (65) 7 years ago (edited)

this is kind of interesting too, @nutela. I went to check out the Swirlds/Hashgraph SDK, and saw this message:

The SDK is free for anyone to download and play with. You can even experiment with building applications on it. If you would like to deploy your application, contact us at [email protected]

And from this post, "Is Hashgraph Technology Just Hype, or Can It Dethrone Blockchain?":

"Until Hashgraph releases the core code as open source, and they are able to gain a real user base it poses zero threat to blockchain," said David Moskowitz, co-founder and CEO of Indorse, a decentralized professional network company based in Singapore.

"There are dozens if not hundreds of new blockchains claiming to be superior to Bitcoin, but until they gain significant community support and are truly battle tested I do not see them as more than long shots," he said.

So at this point all that is available for Swirlds is a closed-source library, and I've gotta contact their sales department if I want to deploy my application?! Not to mention, of course, that Swirlds even has multiple patents on the future of the "free and open" blockchain killer, which of course is their private solution, wait for it... Hashgraph!

Hmmmm......... yeah, unless I'm reeeeeeaaaaalllly missing something here, I think I'll pass.

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3 votes

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alexpmorris (65) 7 years ago (edited)

As I've written in other comments, I'm not saying there aren't particular use-cases where Hashgraph may be useful, such as for the purpose of a temporal distributed order book. But the thing is, perhaps you can explain to me (except for possibly a more stream-lined "plug-and-play" solution), how this is so revolutionary versus something like Bisq Network (also open-source and written in Java):

To be properly decentralized, one must avoid single points of failure:

Bisq does not hold any bitcoins. All are held in multisignature addresses rather than a Bisq-controlled wallet.
Bisq does not hold any national currency. National currency is transferred directly from one trader to the other.
Bisq uses a Peer-to-Peer network over Tor. This means there are no servers to be hacked or DDoS’d.
Bisq does not know the traders. No data is stored on who trades with whom.
Bisq does not require registration. This means privacy is maintained, there are no “approval” wait times, * and identity theft becomes impossible.
Bisq is not a company. It is an open source project organized as a Decentralized Autonomous Organization (DAO).

Link: Bisq Network FAQ

In addition, by using TOR, counterparties have a lot more anonymity than I would expect they would through a Swirlds-based solution, but feel free to correct me if I'm wrong on this.

Also, perhaps you can also better explain to me this whole concept of "gossip about gossip", because the more I try to understand it, the more it seems to me little more than a fancy marketing "buzzword".

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nutela (61) 7 years ago

Bisq sounds mighty interesting, I'll check coinmarketcap.

Gossip about gossip means that everyone adds two hashes from which the order can be validated.

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1 vote

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alexpmorris (65) 7 years ago

ah okay, "the order", and what about "the validity"?

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nutela (61) 7 years ago

It's valid when it is in order, double spending cannot occur because of the order of the tokens! You cannot suddenly have a coin or spend it twice, the first one is always valid...

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abourget (45) 7 years ago

But it could happen that tx1 spends all the funds, which would make tx2 invalid. When you receive the votes and reorder, and realize tx2 is invalid, what do you do ? Broadcast a reorg?!

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