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| comment | | "parent_author":"",<br>"parent_permlink":"money",<br>"author":"majes.tytyty",<br>"permlink":"blockchain-and-beyond-far-beyond-mike-maloney-s-hidden-secrets-of-money-explores-the-crypto-revolution-chaos-monitaur-33",<br>"title":"Blockchain and Beyond \u2026 Far Beyond. Mike Maloney\u2019s \u201cHidden Secrets of Money\u201d explores the crypto-revolution (Chaos Monitaur\u201333)",<br>"body":"<html>\n<p>In Episode 8 of his intriguing video series <em>\u201cHidden Secrets of Money,<br>\u201d<\/em> Mike Maloney takes an in-depth look at not only the cryptocurrency revolution and the recent frenzy driving it,<br> but also beyond the blockchain,<br> to a more recent development called <em>\"hashgraph.\"<\/em> <\/p>\n<center> https:\/\/steemitimages.com\/DQmf6hKhq1BHkt6NUquDetwa7LsPqVYuzzwamnAer87Cgbv\/image.png <\/center> \n<p>\n<p>Maloney spent a full year doing the research that went into the making of Episode 8 \u2013 titled <em><strong>\u201cFrom Bitcoin To Hashgraph: The Crypto Revolution\u201d<\/strong><\/em> (link below). As in the previous episodes,<br> Maloney gives us an easily understandable history and analysis of something that many of us know very little about. <\/p>\n<center>https:\/\/steemitimages.com\/DQmTHuXSrtdNZFuw5ERrRUX3f4fdy5t29HWthMGB2EidzVY\/image.png<\/center>\n<h2>The Revolution Will Be Revised <\/h2>\n<p>The first half of Episode 8 covers blockchain,<br> distributed ledger technology (DLT),<br> and cryptocurrencies. Maloney compares the invention of blockchain to the discovery of fire. While blockchain is one of the crucial and essential innovations in the historical development of mankind,<br> he asserts that blockchain is probably not the be-all or the end-all.\n<p>We no longer start a fire in order to cook our meals or heat our homes \u2013 we just flick a switch or turn a knob. In the same way,<br> blockchain (and its offspring bitcoin) might turn out to be the 21st-century version of fire. A great innovation,<br> but something that eventually turns out to be relatively primitive. <\/p>\n<p>For one thing,<br> there are certain <em>\u201cunintended consequences.\u201d<\/em> One result is that,<br> to a certain extent,<br> bitcoin is <em>\u201cnot being used as currency,<br>\u201d<\/em> but only as a speculative asset. And if bitcoin transaction fees remain as high as they currently are,<br> it is highly unlikely that bitcoin will be used as a currency,<br> at least for minor transactions. \n<p>\n<center>https:\/\/steemitimages.com\/DQmPB4sAyujGNWTHYSJJwzRkXmKweHH5iyEapok34M49Sew\/image.png<\/center>\n <\/p>\n<p>After his great lesson on blockchain and cryptos,<br> Maloney moves on in the second half of the episode,<br> taking us beyond those technologies,<br> onward and upward to hashgraph. <\/p>\n\nThe hashgraph consensus mechanism uses an update of the \u201cgossip protocal\u201d that has been used for years as a means of information sharing. The update is called \u201cgossip about gossip,<br>\u201d in which the recording of shared info is called an \u201cevent.\u201d \n<p>\n<br>\nThe order of the events is determined and each is given a time stamp. That in turn determines the order of the transactions that are stored.\n<p>\nHashgraph consensus has several main characteristics that differentiate it from blockchain,<br> as follows:\n<p>\n\u2013\u2013 There is no mining. Instead,<br> blocks can be created by any member at any time.\n<p>\n\u2013\u2013 The size of the blocks can vary. Since large blocks will inevitably take more time,<br> most blocks will probably not be very large.\n<p>\n\u2013\u2013 Consensus can be achieved without Proof of Work.\n<p>\n\u2013\u2013 Emphasis is placed on the order of the transactions and the fairness in completing them.\n<p>\n<p>\n\n<h2>Bigger Than DLT <\/h2>\n<p>Developed by Leemon Baird and Mance Harmon,<br> hashgraph is an even more revolutionary technology than blockchain,<br> and one that can potentially supersede it. While blockchain has <em>\u201climitations at scale,<br>\u201d<\/em> hashgraph overcomes those limitations,<br> partly by returning the focus to <em>\u201creaching consensus<\/em>.\u201d This is resulting in the <em>\u201cbiggest revolution since the web.\u201d<\/em> <\/p>\n<p>As Maloney clarifies,<br> the energy needed to power the bitcoin blockchain is<em> \u201cunsustainable.\u201d <\/em>Hashgraph overcomes this problem,<br> too. It is not simply a blockchain,<br> but a revolutionary consensus algorithm that is both simple and elegant,<br> and which allows for virtually instant consensus. With hashgraph,<br> we do not need to wait for a block to be added to the chain before we reach that consensus. \n<p>\n<p>\nMoreover,<br> hashgraph does <em>\u201cnot require proof of work to reach consensus.\u201d<\/em> Consequently,<br> consensus can be reached more easily and quickly than on blockchain.\n\n<center>https:\/\/steemitimages.com\/DQmPnqFhsVdnnpYRFATfnM7EZg3Sax8Dv8tJ6Q24SshzV4T\/image.png<\/center>\n<h2>Faster,<br> Fairer,<br> Safer \u2026 and Scalable <\/h2>\n<p>Overall,<br> hashgraph is faster,<br> fairer,<br> and more secure. In fact,<br> it\u2019s mind-bogglingly faster. Demetri Kofinas compares the throughput speed of hashgraph with that of blockchain,<br> saying that <em>\u201cit\u2019s roughly twice the speed of sound relative to a snail\u2019s pace. Bitcoin being a snail\u2019s pace. And this network literally being like a supersonic jet travelling at twice the speed of sound.\u201d<\/em> <\/p>\n<p>Cryptos and blockchain are said to be <em>\u201cnot living up to the original promise of what bitcoin was supposed to be. Hashgraph might keep the promise.\" <\/em>It\u2019s <em>\u201ca blockchain-alternative that achieves high scalability without sacrificing security.\u201d<\/em> <\/p>\n\n<center>https:\/\/steemitimages.com\/DQmVn5BKaHbXVYWXiMsK128tXrK6UyohTsk65GzN6VDvrot\/image.png<\/center>\n<p>\n<p>\n(As ever,<br> Maloney asks the right questions,<br> and finds the right answers. Just as in the previous episodes of his series,<br> he dissects and examines the subjects,<br> distills them to their essence,<br> and then presents them in a clear,<br> logical,<br> and comprehensible manner. The result is an easily understood and very interesting video about these revolutionary technologies.) <\/p>\n\nhttps:\/\/steemitimages.com\/DQmcZgwBFXnLsFFJr3nkP2VYs7m1dWFYQWMkqqCYQ5spGvJ\/image.png\n<p>\n<p>\n<b>From Bitcoin To Hashgraph: The Crypto Revolution \u2013 Hidden Secrets Of Money,<br> Episode 8 <\/b> (Mike Maloney) \u2026 \n<p>\nhttps:\/\/www.youtube.com\/watch?v=SF362xxcfdk\n<p>\nhttps:\/\/steemitimages.com\/DQmcZgwBFXnLsFFJr3nkP2VYs7m1dWFYQWMkqqCYQ5spGvJ\/image.png\n<p>\n\nFurther Viewing \u2013 <b>What is Hashgraph and how will it replace blockchain? (London Stax)<\/b> \u2026\n<p>\nhttps:\/\/www.youtube.com\/watch?v=SPdUAw-Fpco\n<p>\n<p>\nhttps:\/\/steemitimages.com\/DQmcZgwBFXnLsFFJr3nkP2VYs7m1dWFYQWMkqqCYQ5spGvJ\/image.png\nFurther Viewing \u2013 <b>Swirlds Hashgraph Consensus for Identity (Leemon Baird) <\/b>\u2026\nhttps:\/\/www.youtube.com\/watch?v=rhHfjOqlUv4\n<p>\nhttps:\/\/steemitimages.com\/DQmcZgwBFXnLsFFJr3nkP2VYs7m1dWFYQWMkqqCYQ5spGvJ\/image.png\n\n<p>Further Reading,<br> Source Article \u2013 <a href=\"https:\/\/medium.com\/@justindanneman\/blockchain-just-became-obsolete-the-future-is-hashgraph-de4948609cbf\"><b>Blockchain Just Became Obsolete. The Future is Hashgraph,<br> <\/b>Justin Danneman<\/a>.<\/p>\n<p>\nhttps:\/\/steemitimages.com\/DQmcZgwBFXnLsFFJr3nkP2VYs7m1dWFYQWMkqqCYQ5spGvJ\/image.png\n\n(In Episodes 1\u20137 of <em>\u201cHidden Secrets of Money,<br>\u201d<\/em> Maloney taught many people the essential aspects of our economies and financial systems. Find all those interesting and very informative episodes at the following link.)\n<p>\nhttps:\/\/www.youtube.com\/watch?v=DyV0OfU3-FU&list=PLE88E9ICdipidHkTehs1VbFzgwrq1jkUJ )\n\n<p>\nhttps:\/\/steemitimages.com\/DQmaRbjQ7Pgj4eUr1u2FMdHCuajLf9gTV8k4WNEV2jZqCFM\/image.png\nImages sourced from Google Images\n<\/html>",<br>"json_metadata":" \"tags\":[\"money\",<br>\"gold\",<br>\"silver\",<br>\"bitcoin\",<br>\"news\" ,<br>\"image\":[\"https:\/\/steemitimages.com\/DQmf6hKhq1BHkt6NUquDetwa7LsPqVYuzzwamnAer87Cgbv\/image.png\",<br>\"https:\/\/steemitimages.com\/DQmTHuXSrtdNZFuw5ERrRUX3f4fdy5t29HWthMGB2EidzVY\/image.png\",<br>\"https:\/\/steemitimages.com\/DQmPB4sAyujGNWTHYSJJwzRkXmKweHH5iyEapok34M49Sew\/image.png\",<br>\"https:\/\/steemitimages.com\/DQmPnqFhsVdnnpYRFATfnM7EZg3Sax8Dv8tJ6Q24SshzV4T\/image.png\",<br>\"https:\/\/steemitimages.com\/DQmVn5BKaHbXVYWXiMsK128tXrK6UyohTsk65GzN6VDvrot\/image.png\",<br>\"https:\/\/steemitimages.com\/DQmcZgwBFXnLsFFJr3nkP2VYs7m1dWFYQWMkqqCYQ5spGvJ\/image.png\",<br>\"https:\/\/img.youtube.com\/vi\/SF362xxcfdk\/0.jpg\",<br>\"https:\/\/img.youtube.com\/vi\/SPdUAw-Fpco\/0.jpg\",<br>\"https:\/\/img.youtube.com\/vi\/rhHfjOqlUv4\/0.jpg\",<br>\"https:\/\/img.youtube.com\/vi\/DyV0OfU3-FU\/0.jpg\",<br>\"https:\/\/steemitimages.com\/DQmaRbjQ7Pgj4eUr1u2FMdHCuajLf9gTV8k4WNEV2jZqCFM\/image.png\" ,<br>\"links\":[\"https:\/\/www.youtube.com\/watch?v=SF362xxcfdk\",<br>\"https:\/\/www.youtube.com\/watch?v=SPdUAw-Fpco\",<br>\"https:\/\/www.youtube.com\/watch?v=rhHfjOqlUv4\",<br>\"https:\/\/medium.com\/@justindanneman\/blockchain-just-became-obsolete-the-future-is-hashgraph-de4948609cbf\",<br>\"https:\/\/www.youtube.com\/watch?v=DyV0OfU3-FU&list=PLE88E9ICdipidHkTehs1VbFzgwrq1jkUJ\" ,<br>\"app\":\"steemit\/0.1\",<br>\"format\":\"html\" " | | vote | "voter":"majes.tytyty",
"author":"majes.tytyty",
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