Hashgraph: The Blockchain Killer? (w/ Leemon Baird)
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- เผยแพร่เมื่อ 21 มิ.ย. 2019
- Will the future be written on the blockchain? Or will a competing technology become even more important? Leemon Baird, the computer scientist behind hashgraph, explains why his distributed ledger technology could serve as a superior alternative to blockchain. This clip is excerpted from a video published on Real Vision on February 7, 2018.
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Leemon Baird on Hashgraph: The Blockchain Killer?
/ realvisiontelevision
Transcript:
For the full transcript visit: rvtv.io/2Y3ZqEj
LEEMON BAIRD: Hashgraph is a way of making a distributed ledger work. In other words, it's a
way to have a bunch of computers come to an agreement on the order of our transactions of the
things that we're doing. And it also puts timestamps on them.
So we have an agreement that this transaction was first and this one with second, not the other
way around. And we have an agreement that this transaction happened at noon on Tuesday. And
the whole community is agreeing on this.
And that's what every deal team needs to do. Every distributed ledger comes to agreement on
ordering and timestamps. And that's what Hashgraph does. But it does it in a very strange way,
not the normal way of doing things.
It is not like proof of work. You do not have to buy a super-computer to run a node. In fact, we
have full nodes that are Raspberry Pis, you know these little tiny $30 computers. My small cell
phone, of course, is far more powerful than you would need to be a full node. A cell phone can
easily do it.
So we don't use proof of work. The obvious way of getting consensus is, well, let's just have a
King. I mean, that's the easiest way to make everyone agree on something. We'll have a King
and the King decides what we do. That's the simplest way to have agreement.
So a lot of old systems that were designed, and many of the new systems, are based on a leader.
In some systems, what you have, is one computer is the leader. Everybody sends it the
transactions. It puts them in order. And then it tells everybody the official order that it decided on.
That's how it works.
The problem is with a leader, you can do DDoS attacks, Distributed Denial of Service attacks.
What if there are a bunch of computers out on the internet that a hacker has taken control of, little
tiny computers, like the computers in printers, and in web cameras, and in DVRs.
And they've taken control of a whole bunch of these little computers. And they tell all the
computers at once to flood the leader with packets. That would shut down the leader, which
Hashgraph should be #3 in Market Cap imo
Hashgraph will be 1st
Buying HBAR now is like buying AAPL in the 90s except much much bigger potential. What an incredible opportunity to be a part of something so big so early. This is the future of online transactions.
HBAR & AGIX are my two moonshot positions
@@tonyh1345 Why AGIX? And while hashgraph may be the future, how high do you think the coin could go?
Hashgraph is the next evolution of Blockchain - not jeopardizing security for Speed and scaling. Send this video to everyone you know and be their hero!!!
what do you think about FANTOM ?
@@musviqalizade1931 shitcoin 😂
All my friends hate me now. They all lost at least 30% of what they invested.
So if im correct, the corona runs on the gossip protocol 😂 when lock down
mostly😂
What did I just hear? I followed about half of what Leemon said. I know that was a simplified explanation but the question I have is how will this work as an investment vehicle?
As an investor, you hold it long term and take advantage of growth potential + proxy staking (similar to dividends).
Thank you!
This is the future
If a node receives info on the whole network, as Leemon mentioned "in 20 steps a million people know it, in 30 steps a billion people know it", then that seems like a lot of info going through the node. If the network operates at 100,000 transactions a second, then one node would receive 8.64 billion gossips in a day.
So how are users of this ledger protected? Is there a private key we receive when on the network? How do we prove a gossip isn’t false?
Battleground for new alts will be Algorand Vs Hashgraph
apparently not XD
@@gurpchirp just wait ;)
I'm in 👌
Could be used for voting.
I watched the whole video. I heard all the words. I don't understand any of it.
I have one hell of a time understanding it and would be willing to bet you know more than I do but I do know that they have proven their security and speed that blockchain can't come close to.... ever. I know that if you watch more videos about it you will pick up enough info to be seriously impressed. It's best when you can find videos where sceptics are convinced and they have that 'oh shit' moment.
All hail Hashgraph!!
I try to make transactions in Cash, and nobody knows.
I use Monero, no one knows and I can do it from one corner of the world to another.
@@rattle_ -- So will you be able to do with Hedera Hashgraph anonymous accounts, the only difference is that Hedera going to do it way cheaper and transact within seconds.
go check china, certain things and services can not accept cash. Cashless is coming, like it or not
Meet the new internet
I have heard about this two years ago, and I still don't understand that virtual voting.
I agree, it is very technical. To sum up, it means the nodes can vote on the order of transactions without having to reconnect to each nodes over and over just to get confirmations. This changes the process of taking several minutes to only a couple of seconds. It is also more resilient to network attacks.
I like this coin
HBAR to $10
What if i buy enough cheap computers which make up for 34% of the network? Since i dont need PoW or a strong computer i can just buy millions of $30 (or much cheaper) computers
Hedera PoS works by weighing the number of $hbar staked, not the number of nodes. You would need to own 34% of all $hbar, that will never be possible
The real question though: is privacy protected, and how?
It depends on how much information is recorded on the graph. So if all you need is a adress the only info visable will be your address , the amount you send, to who and when it happend.
Does this screams xrp ?
This is not permissionless. Has decentralized consensus, but doesnt have decentralized ownership. It cant bring economic freedom if it has to bow to government regulation or theft through taxation.
Oh look guys, another scammer, trying to distribute his propaganda. Next time you'll see him posting about his scam coins. A shiller waiting to happen.
If you are going to challenge a technology, bring actual facts to the table. Stop being part of the problem.
I understand the superiority of hashgraph to blockchain but why doesn't anyone invest in it? The price has been slipping from the time I invested Sep 16th till now Dec 4th. I don't understand. It would be nice if you could come on and explain why you think this is happening. I am about to lose faith, like many others already have. Please, Mr. Baird, we need you or Mr. Harmon to say something.
you are a weak hand, in five years u will be very sad to not holdings even a few hundred hbars
Just have patience, we are gonna make it
Hope u didn't sell ...hashgraph is up rn
@@thezodiacsignz7309 No way, I've been buying since Sept 2019. How about you? I believe it should be more valuable than bitcoin. So if the market cap were only just equal, HBAR would price at $20,000. But I think it is even better than equal so I'm holding.
@@tookymax I bought a little ill buy more of it stays under 1$...and u never sell anything
where is hashgraph now?
In Testing. Only a fool would rush a product, even if the product is ready for release.
it is a close source project, so you will only see corporates and other entities use it.
@@ChitranjanBaghiofficial -- Actually open review. And for the argument of corporations only being the one using it, that's where you are wrong. Let's take the technology of Paypal for example, it was revolutionary when it first came out and it allowed CONSUMER to transact between each other. Well, this is no different. Anything that landed in the hands of consumers started at the enterprise level. And I do mean ANYTHING! Even Bitcoin is currently sitting in the hands of companies holding down to mining pools. Or did you forget that part?
The only difference is the way Hashgraph is design where they are single nodes with no more than a 100s or so on a single shard that does not use the governance network to come to consensus. In fact, they don't even know what runs on their network, that is the nature of their gossip about gossip protocol. Confused? Don't worry about it, tons of material out there you can check out.
@Michael Bibow-Finucane -- Control by bankers? There you go with your crypto bro conspiracies. If you don't know how something works, ask, otherwise someone smarter or more educated is going to call you out on it.
@Michael Bibow-Finucane -- Wow, just wow. You call me stupid when your argument is, "He works for the air force" when that was one of his job, he's not working there now. So should I call you the garbage man for the rest of your life if you end up taking that job as a kid?
His hair looks like Pipeline.
DigiByte
OK. So, the take-away is the profundity of 'time-stamp'. OK, look at child: time-stamp; hug spouse: time-stamp; pet dog: time-stamp. I could go on, but I don't want to.
❤🧟♂️
Currently Hashgraph HBAR coin is at .03 cents. Whose here reading this in 2025 wish they bought more?
no one
i got them on binance for 0.01
BXPOLANCONY nice
Check it out..... Hbar market cap is rising but the price is still hovering around .35 - .40 how is this??? Well the simple answer is this is happening because whales (companies and individuals that bought them for pennies are cashing in) they are releasing their coins onto the market and keeping the price down. this shirt is going nowhere!!!
HashGraph is a centralized company
It will not disrupt blockchain especially bitcoin in anyway.
That said I have other issues with crypto’s actually working long term
I’m only comparing HashGraph to blockchain here. And no the bitcoin community won’t leave blockchain for a centralized company
Hide and watch
Fortunately for HBar holders, the "bitcoin community" isn't the target.. mass market is!!
@@postulation bullseye.... This is really going to be a shock to them.
26 bitcoin pumpers disliked this video.
I’m not a believer bitcoin will work long term
So not a bitcoin dude at all here
But HashGraph is totally centralized and even as a non bitcoin pumper I thumbs down this based on the clickbait title and HashGraph being garbage
@@geneeverett7855 This is one of my big issues with Blockchain and open source code. Nothing stops a big player like Facebook to use these amazing ideas in a monetized fashion. Basically, ripple is a R&D team for big banks.
@@geneeverett7855 -- Nothing about Hedera Hashgraph is centralized, but coming from the crypto bro space, I am not surprised that comment came from no actual facts.
And what about the moment you burn let's say 10$ of energy to register cheaper transactions ?
I've nothing against ledgers, but this...
... you don't understand. Hashgraph runs at around 100,000 trx a sec with the spec of a single GPU desktop computer with no more than approx. 100 nodes needed under a single shard. If you did the math, you would seen realize how very very cheap it is to do trx on Hashgraph. We are talking micro pennies.
Not sure where you got $10 from? Transaction fees on Hedera Hashgraph are currently less than a penny. It's a proof of stake network, so you don't have to operate expensive hardware. Even better, it has guaranteed finality and so nodes don't have to store full transaction history, but they obviously can if they would like (less memory requirements = cheaper nodes and fees)
Forget bitcoin. Hashgraph is the one
Sounds like a copy of IOTA
The only thing they have in common is that they are both DAGs, after that they are quite different.
Similar, but quite different.
Also, Baird started in 2012, IOTA and Baird both published algos in 2015. But the algos (and the basic logic behind how they achieve what they do) are different.
, hashgraph is patented you have to request in software development kit from them they're not open.... piss dirty dogs trying to sell his products
You are confused my child. First off, development kit is part of any network, the patent has nothing to do with it. Second of all, no one trying to sell you anything. Their service is aimed at enterprise level, not a lowly consumer like yourself. But thanks for playing.
Your information is a bit incorrect.. Hedera Hashgraph is a public network and no license will be required to build on it at open access. See hedera.com
why does he look like that
Put this tech in bitcoin's side chain so that they can talk to each other.
what they want is to have monopoly - thats why hasgraph is patented. So hashgraph guys are looking for replacing one money monopoly with their own. No, thank you.
Hey, Real Vision - you spent so many hours talking about evils of money monopolization and now you are helping other crooks to create new monopoly?
@@DJRYGAR1 -- Ignorance doesn't suits you. Patent is to prevent forking. Besides, you assume they own control of the tech which they don't. Hedera Hashgraph is an LLC, not a company.
@@Supremax67 LLC means 'limited liability company' so they are a company by definition. And why they want to prevent forking exactly?
Patent is government approved monopoly. See, it is not me who's ignorant, it just you being naive.
@@DJRYGAR1 -- I am glad you looked it up. That's the first step you took out of preconceived notion. Swirlds is the only company who has any voting power and they'll own 2.56% of it. That's it, that's all. All council members will own no more than 2.56% and none of them can serve for longer than 6 years. It is the most decentralized governance to date. Compared to bitcoin where a single mining pool company owns more than 1/3 and there is no guidelines to remove them from that status. Bitcoin looks more like a Monopoly model than Hedera Hashgraph will ever be. But thanks for playing.
@@Supremax67 B O O M
That makes it too centralised
Exactly
It’s literally a centralized company
He didn't even mention it's governance loool!
Not sure what you're referring to? The protocol itself is decentralized (no one computer, miner, or leader determines order) and anyone will eventually be able to run a node. The governance council is decentralized because members are term limited and have no interest to collude because their organization's market caps / revenues don't compare to their role on the council
Safe Network is the one to watch. Open source and great active community. It has much more to offer than hashgraph, and their consensus algorithm is even better than hashgraph. That one is permissionless and open source. Forget hashgraph
@@tradeorwait6815 -- Sorry, are you referring to the tech who tried to steal the Hashgraph algorithm and his sitting 100 ranks lower than Hedera Hashgraph on the coinmarketcap? And now renamed to MaidSafeCoin because they had to rebrand twice to get rid of some bad publicity?
What do you mean by agreement? or consensus? You mean more like a democracy? because the consensus in the real world never works. Even voting doesn't work.
34% Attack, yeah it's faster but that's a very steep network security penalty compared to traditional blockchains which require 51% of the network to be malicious in order to be attacked.
51% assumes there aren't any partitions in the network. EVERY SINGLE NETWORK HAS A 34% ATTACK, BAR NONE. Research the byzantine generals theorem before you spout misinformation
@JS72 True! It's also 34% of the network's cryptocurrency stake, so it'd additionally be much harder to find that liquidity than standup hardware for a PoW system.
There’s no such network that can survive a 34% attack , those who argue against this reality is simply misinformed.
Stick with bitcoin.
You mean crap coin? The tech that has problem adapting to changes so much that the entire world is inspired to introduce something different? If Bitcoin was so good, you wouldn't see 2000+ teams trying to fix it.
@@Supremax67 You have so much to learn young grass hopper.
@Michael Bibow-Finucane -- They are no governments that has control of H-Bars. You obviously haven't been paying attention. It's like saying I am not willing to break the law, so I must be a police officer. Your statement started with zero sense.
@@michael2275 -- If that's the case, then it is definitely not coming from you now is it? If you can't bring valid points to a debate, than your argument, for all intent purposes, is simply trolling. I have no problem calling out trolls like yourself.
@@Supremax67 You're not worth my time.
Want to get rich? Short Tesla all the way to bankrupt. I started at $395. And it's on it' s way to target $50. Now watch how the Tesla Zombies attack me..............and yes I own Gold and Bitcoin too.
Mr. Smith this didn’t age well
Oof
I'm really let down by you real vision
Of course you are, it flew right above your pay grade. But thanks for playing.
Sketchhhhh I don't trust this guy! Get him away from me!
@@londongabaldon9894 -- You don't trust a guy that is smarter than you? You plan on going far in life?
@@Supremax67 thank you for blessing me with knowledge. Fck hashgraph
I bet it @sumprememax67 because u were born in 1967. Old head, I hope ur pensions go bust! Lol im young and my future doesn't come with pension socialsecurity or anything.. I have no future thanks to shit monetary policies! Yippy 4 me
So, is hashgraph already permissionLESS?? Because that is what crypto and decentralized networks are about. Otherwise it is just a centralised money making token provided by a commercial company. The world doesn't need that.
The Safe Network is the solution we all want and NEED, also for you hashgraph fans. It is superior to hashgraph in many ways, also their consensus mechanism is better. That one IS permissionless and open source. Community should be in control, not a $$ company. But I guess most hashgraph sheep have no idea what I am talking about 😂
Oh they you are again! You know your comment didn't age well. MaidSafeCoin did not age well either. Please stop trying to scam people.