FREE BITCOIN

Gamble as you want,

your wife will never find out!

First p2p bitcoin betting platform!

Guess Bitcoin’s trend and win!

Clever enough to guess

Bitcoin price?

Using Hashgraph to Build the Perfect Cybersecure Transactive Network at Dcntral - Global Coin Report
Connect with us

Press Release

Using Hashgraph to Build the Perfect Cybersecure Transactive Network at Dcntral

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

By Andrew Burger

Distributed computing software and network engineers are taking a variety of approaches in designing and building secure, peer-to-peer transactions and distributed ledger systems that solve the lack of scalability and processing efficiency, as well as the tremendous energy consumption, that plague existing blockchain distributed ledger systems. Dcntral.ai founders David Allen Cohen and James Barry figure prominently among them. www.dcntral.com.

Having taken a deep dive into new variants on the blockchain theme, including Ethereum’s blockchain and IOTA’s “blockless,” Tangle-based means of authenticating, verifying and creating new blocks of transactions, Cohen and Barry are working with Hedera hashgraph specifially using the Hashgraph Consensys algorithms to develop what Cohen dubs “AI 3.0” and build out dcntral.ai’s Cybersecure Transactive Networks platform.

A new, fast and secure means of peer-to-peer network transaction processing

Akin to all blockchain distributed ledger systems, Hedera hashgraph offers a new means of achieving consensus among blockchain transaction system peers. That is to say it provides “a way for people who don’t know or trust each other to securely collaborate and transact online without the need for a trusted intermediary,” Hedera hashgraph’s creators explain.

Unlike blockchains based on Bitcoin’s “proof of work” method of achieving consensus, Hedera hashgraph, according to its creators, “is lightning fast, secure, and fair, and, unlike some blockchain-based platforms, doesn’t require compute-heavy proof-of-work.”

Hedera hashgraph released the results of a transaction processing speed test of its public distributed ledger platform alongside launching the public hashgraph platform. Fifty thousand transactions were processed in three seconds using a peer-to-peer network to which 30 computers spanning eight regions of the world were connected.

Analyzing the results further, that equates to 1.5 seconds across 2,000 miles (3,200 kms) or 0.75 seconds among peers located within a single region.

Byzantine fault tolerance and meta-gossip

Digging a bit deeper into its technical aspects,Hedera hashgraph employs what’s known as Byzantine fault tolerance to ensure that transactions and communications are highly secure and tamper-proof. Consensus time-stamping of prospective and authenticated transactions and blocks is used to ensure fairness.

Equally important, Hedera hashgraph is able to process hundreds of thousands of transactions per seconds. That’s a huge improvement over Bitcoin blockchain transaction processing, in terms of cost per transaction and energy consumption as well as transaction processing speed.

The founders of Swirlds, a permission- and hashgraph-based distributed ledger, launched Hedera hashgraph, a public use version of the platform, on March 13. Swirld’s hashgraph mechanism for achieving blockchain consensus, in turn, was created by Leemon Baird.

Essentially, hashgraph blockchains use a virtual voting algorithm combined with what’s known as the “gossip protocol” to achieve consensus quickly, fairly and efficently, TechCrunch’s Samantha Stein explains in a March 13 news report.

In order to achieve consensus among peers much faster and more efficiently, the gossip protocol makes use of “meta-gossip” — gossip about gossip. Essentially, “gossip about gossip” amounts to information regarding transactions exchanged by hashgraph peers that isn’t known across all network nodes.

The gossip protocol gathers critical information contained in the meta-gossip to do with new transactions, including via which distributed network peer it originated and how far and wide it traveled among peers. The entire history of messages associated with a new, prospective transaction to be added in the creation of a new block are consolidated, in temporal, ordinal sequence, into one hash.

Predicting how network peers will vote

The result is that Hedera hashgraph can predict how network peers will vote when it comes time to authenticate and add a new transaction or block without them actually having to vote. That winds up saving a tremendous amount of time and boosts transaction processing efficiency by orders of magnitude. It also save a tremendous amount of energy.

“I can guess how you would vote, but you don’t need to vote, so you reach consensus for free. It’s the fastest way known to humanity to send information,” Baird was quoted in Stein’s article for TechCrunch…

“We can process hundreds of thousands of transactions per second on Hashgraph Hedera, compared to proof of work blockchains like Bitcoin or Ethereum’s blockchain that can do 5–7 transactions per second,” Stein quoted Swirlds’ co-founder Mance Harmon.

Stein notes that would make Hedera hashgraph’s transaction processing speed faster than that of Visa’s credit and debit card transaction processing.

Of vital importance when it comes to avoiding coming under the hammer of national and international regulators, Hedera Hashgraph platform comes equipped with anti-money laundering and so-called “Know Your Customer” peer identification.

Hedera hashgraph and Dcntral.ai’s AI 3.0

These attributes figured prominently in Cohen and Barry’s decision to make use of Hedera Hashgraph to design and build out dcentral.ai’s “AI 3.0” functionality and the Cybersecure Transactions Network platform. Right now we are planning to use the Hashgraph Consensys algortithms for private permission-based network implementations but we will also consider using the Hedera Hashgraph public ledger in the future said Cohen.

“AI 3.0 combines the benefits of over 30 years of research on AI, machine learning, and multi-agent systems with blockchain and DLT technology to finally enable the emerging industry 4.0 where billions of devices will be connected to the internet and will need to coordinate in real-time at the edge of the network,” Cohen wrote in a Nov. 30, 2017 post for Hedera Hashgraph’s Medium channel.

Cohen dug deep into and assessed alternative, so-called “blockless,” blockchains before deciding to work with Hashgraph among others. Leading examples of these, such as DAGCoin and IOTA, make use of their own versions of what is known as a Directed Acrylic Graph (DAG) to resolve the scalability and processing speed/efficiency issues that constrain blockchains that make use of “proof of work” to achieve peer consensus and create new transactions and blocks.

Cohen found them lacking in features. “While these may have found suitable use cases, in evaluating these technologies, I determined that none would meet all of my requirements (scalability, speed, footprint, fault tolerance, cybersecurity, AI integration, communications, etc for initial use in permissioned networks.”

As Cohen recounts, he was fortunate to meet Baird and Harmon while working to create “the perfect underlying blockchain foundation” for mission-critical cyber-physical systems. With funding from private investor and the U.S. Department of Energy (DOE), Cohen, since joined by Barry, continues along that path of innovation.

Interested in hashgraph and next-gen blockchain distributed computing systems, distributed ledger and cryptocurrency systems and platform development. There’s much more to come on dcntral.ai, as well as here on its Medium channel.

Hot Updates

Double Tops and Bottoms Pattern in BTC Futures Trading – How Can We Profit?

Published

on

double tops and bottoms
READ LATER - DOWNLOAD THIS POST AS PDF

In last few weeks, Bitcoin price traded to a new 2019 high close to $5,500 but disappointed most investors who were anticipating a break above $6,000 with a downside correction and declined below the support at $5,200. Though some traders believe the crypto winter will come to an end soon based on the previous bullish momentum over the last week, Bitcoin is still in danger of another drop.

During the bearish to bullish transition, it’s easy to find double tops and bottoms reversal patterns, which give us the signals of the short-term market trend. BTC futures trading with 100x leverage might be the only way to profit in double tops and double bottoms pattern. Read on and see how to earn money with BTC futures trading.

How to Recognize and Analyze Double Tops and Bottoms?

Short BTC in Double Tops Pattern

When the BTC market performs an uptrend, its price hits a high position, and then pulls back. On the next rally momentum, the price will climb near the prior high, then drops below the pullback low. Double tops pattern signals the bull to bear reversal. It’s suggested to open short positions when the pattern…

Continue Reading

Hot Updates

Decibet – The Best of Crypto Betting

Published

on

Decibit
READ LATER - DOWNLOAD THIS POST AS PDF

Decibet in Brief

Out of the sea of sports betting sites, a new crypto-focused betting platform – Decibet– has emerged. The platform enables players from around the world to place bets just as fast as they can cash out. Apart from the advantages brought by blockchain transitions, this bookie also delivers the best quotes that increase the user’s chance of winning.

Decibet’s Key Features

Straightforward Interface

Sports betting platforms should be easy and simple in order to give users an easy time when using them. The Decibet website is tidily arranged to provide anyone with access to its features without encountering any problems.

Three sections are displayed, with the middle one having three tabs above it: “Bets,” “Today’s matches,” and “Cash.”Bets is for checking the available bets and features information such as country, odds, score stake and payout. If you want to make deposits and withdrawals, the cash section is the appropriate tab. You can also use it to select the cryptocurrency you want to use.

The left section displays a list of countries. You can click on any of them to see the leagues and matches. The far left corner has a language settings dropdown menu that you can use to change the website’s language. On the right side, you have Past Events and Your Picks. Your Picks reveal the bets you have made, their stakes, odds, and payouts.

Many…

Continue Reading

Hot Updates

Qintar: The First Sharia-Compliant Token Is Launched In April 2019

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

Qintar Capital Switzerland and ISL-Blockchain Sàrl, two Swiss companies specializing in Islamic Finance, announce the upcoming launch of Qintar – the world’s first Sharia-compliant token. This token is based on Islamic Blockchain (ISL). Qintar will be officially launched on April 12, 2019.

Introducing Qintar – the Global Crypto Ecosystem

Qintar is a Geneva-based but globally focused cryptocurrency ecosystem which is the first truly sharia-compliant token which is independent of the banking system and other financial institutions.

As a first of its kind token that enables the trading of cryptocurrencies – the platform leverages the latest in blockchain technologies to trade in the most effective way.

With full transparency as well as ISL secured and speedy technology users can buy and sell tokens without intermediaries – in short, you are in control of your trades.

With an increase in online fraud, security is taken seriously.

Qintar Makes Waves with the Innovative ISL Blockchain

The experienced team has been busy expanding the app and is using the ISL blockchain for this purpose.

Initiated in 2018, the ISL blockchain project was launched to change the way that cryptocurrencies are designed and developed – the goal is to provide a blockchain environment that integrates the needs of users, systems and the markets.

The ISL blockchain is a coming together of innovation and new ideas – combining the best of tech engineering practices with…

Continue Reading

Elite