Dr. Leemon Baird x Harvard Talk - Hashgraph: New Directions for Blockchains & Distributed Ledgers
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- Опубликовано: 16 май 2024
- On November 20, 2017, Leemon Baird, inventor of hashgraph, spoke at Harvard Business School, giving a comprehensive overview of the consensus algorithm, while taking questions from the audience of students. Leemon first compares the four generations of blockchain technology and then gives a deeper dive into gossip about gossip and Virtual Voting.
Timestamps for this video
0:00 Intro
1:03 What is hashgraph?
4:12 How fast is hashgraph?
6:31 How secure is hashgraph? What does asynchronous byzantine mean?
12:23 How fair is hashgraph? (Fair access, fair ordering, & fair timestamps)
16:43 Distributed ledger technology (DLT) generations and their use cases.
26:45 How does the hashgraph algorithm work?
29:59 What incentivizes individuals to gossip?
32:23 Gossip protocol, the fastest most resilient way to get a message out.
33:50 How does hashgraph prevent double spend?
34:43 Consensus for free with math guarantees - gossip about gossip.
40:59 Virtual voting
43:50 How does the number of hashes scale with the number of nodes in the system?
45:53 Can hashgraph be used for a public ledger on a large scale?
48:04 When pitching this technology to enterprises, how do you differentiate hashgraph from traditional blockchain?
50:39 What is the target market that would benefit from hashgraph?
51:26 What is next for hashgraph and why haven't traditional blockchain technologies deployed gossip about gossip or virtual voting?
53:10 What is the value proposition for a game like World of Warcraft?
55:15 How does hashgraph differ from conventional blockchain and how do you get enough users on board for the system to function properly?
57:07 Proof of work and forking.
1:01:08 There are 51% AND 34% attacks on any blockchain/DLT.
1:07:20 How would the cost of a 51% attack differ from a 34% attack?
1:08:32 What kind of transactions per second has hashgraph achieved?
1:10:03 What is the potential (current and future) for the banking industry regarding this technology?
1:12:58 Will there be an ICO?
1:13:45 What is your main product and business model?
1:16:35 Are smart contracts possible?
1:17:24 Will hashgraph swallow up the competition?
1:17:56 Does hashgraph compete with Bitcoin and Ethereum?
1:20:25 Closing and Thanks
Telegram: t.me/hashgraph
Whitepaper: www.swirlds.com/downloads/SWIR...
SDK: www.swirlds.com/download
#LeemonBaird #Hashgraph #GossipAboutGossip 
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if you're here before $1 HBAR, congrats. you're going to be a millionaire.
Promise?
So my 1.0341 hbar will be worth a mill?
🇧🇷🇧🇷🇧🇷 from Brazil since $0.17
Been in there like swimwear fam
So you think $100 HBAR with a 5 trillion market cap? Yeah I think that’s easily in the cards within 10 years. Keep in mind that I suspect 5 trillion 10 years from now will be worth 1 trillion dollars right now with inflation still running hot. That’s very doable maybe we get $200 HBAR.
When someone can explain or teach something that is complicated in a simple way, that someone KNOWS what he is doing. I am glad I am investing in Hbar and that Dr. Leemon Baird is one of Hedera's leaders.
Exactly my thought. He can explain it so well that you know he knows.
hey mate are u still long?
Dr. Baird is an absolute legend
And in addition he looks very nice and approachable teacher.
He inspires 'sciencey' confidence.
Leemon has a brilliant mind and interprets complexity with simplicity and enthusiasm
Dr. Leemon Baird is an absolute genius. Big fan of you Sir.
It’s crazy how intelligent this dude is, and how he takes complicated concepts and breaks them down so that anyone can understand. He doesn’t just know what he’s talking about, he understands every concept at the most advanced level. That is amazing.
By far the best presentation on the topic...
Thats because this guy invented it
You aren't ready for this yet, but your kids are going to love it
David H Johnson Cashless society. They can turn you off at anytime.
Hope you've been stacking amigo
@@TheLutefiskGOD just bought 1k more
@@christineadams1284 Mhm...have you watched the video ?
Nice
I like this guy! Extremely smart and great to listen to. He gets quite excited talking about this stuff. I love his energy!
Props to Hedera for going back to this lecture and adding time stamp chapters even though that feature came after this beep video was posted 4 years ago. (Really practicing what you preach about the values of times stamps😂).
2022 is the year where hashgraph puts the entire industry on notice
People after years will find this video here and say:
Wow, the people who bought hashgraph are millionaires now.
i'm one of them
I was like wtf omg 3 years old? This is DEEEEPLY undervalued.... So says my emotions without any real logical backing, because I haven't seen the video yet.
Word. I live in #Jamaica and I Invest #Hashgraph I Love #Tune.Fm
Hey they are getting less by sheep’s in wolves clothing. Be glad to be woke
I agree. Holding all of these great projects is the play. Why should I limit myself to any one project. I hold XRP, WISE and now HBAR. I'm also looking forward to the launch Flare Network and the Spark token.
Wow this is simply revolutionary !
...and look where we are now!
Fascinating. Both Hedera Hashgraph and Algorand look like geniously simple but powerful protocols to me. I'm really excited to see what people will build on a public Hedera Hashgraph DLT!
The most profound part of this great presentation for me was between 57:45 and 59:10. He called it four years ago.
Dr. LB is from the future
Mining farms in Asia, graphics cards prices increasing pissing off digital artists+students, 3D modelers, and gamers.
WOW. Him understanding this in 2017 is pretty awesome. He obviously understands his craft.
Just invested $6000 into HBAR prior to the massive pump. Personally, I’ve spent hundreds of hours reading up on white papers, and crypto analysis from the rock bottom to the very top. Take my word: This project has immense, explosive potential.
Absolutely agree.. I bought a couple of days ago after some research, did more research and just bought a lot more 👌
Annnnnnd we are back to .23 lolol
It’s still a great tech with a great destiny. Hang in there!
@@kylercook7968 lol sounds like a buying opportunity
Hope you still invested a year later
Someone comment on this in 5 years. Hopefully we are all financially well after finding this project so early.
1 year passed. we're still at the bottom but this might be start of something big for Hedera. No worries bro i will update you next year.
DCX (Trade Finance) was built on the Hedera Network and has come to market here in 2022...a brilliant example of this given by Leemon 5 years ago during this Harvard seminar.
Brilliant man. Love em
Dr. Leemon Baird is absolutely a genius.
100% He's changed our future already, and as I type this, this video was made 5+ years ago in 2018. Hedera has come a long way since then.
This guy is genius
This guy is a genius
I am full of it. Greetings from Glyfada dude.
Update:
@0:18 The network is now public and the cryptocurrency is called Hbar
Thank you for this excellent presentation
Legendary classic video. #HelloFuture
Pure Genius!
I'm blown away, and sad I learned about Hedera and HashGraph the other day............ Dr. Leemon Baird is a true genius
A lot of potential! 💪🏼
Didn't know I needed this!
This is why I am invested in Hedera.
I LOVE this video
4years late to this but im still early HELLO FUTURE
Hbar on sale for those that didn't get in the first time! I'm leaving Hbar for all my future generations. Oh, my decendents are gonna REMEMBER ME!
I can't believe it is at $0.037 at the moment, an absolute steal!!!
@MikeLowery203 You are correct sir, and I always keep cash on hand to DCA in case it drops more. So many use cases, 10K tps, secured with ABFT, and Rock bottom transaction costs tell me this is the future. Once people realize they are in a losing situation with $h1tcoins, all that money is going to Hedera. It's going to flip ETH and it WILL FLIP BITCOIN!
@ 1:16:17...That was just icing on the cake for me!!!
Fantastic Job! #HederaAllSubstanceNoHype
TO THE MOON 🙌🙌
Mars I'm hoping
Makes wonderful sense - and at the cost of true decentralization (which is arguably not truly present in other DLTs, including ethereum IF you are going to rely on oracles and other sources of information - which you must in which to do anything useful with a smart contract.)
so glad Harshgraph is here now
Same 😚😚
Who watched this AND THEN bought their first HBAR?
It’s own development team actually explaining something right. 🤯
Dr. Leemon Baird is a genius, I like him so much
new gen.. hidden gem👍
HBAR is the best and most undervalued crypto. Remember this.
Where do I get some??
@@RB-ow7mt coinex exchange buy from moonpay
moonpay buy btc then btc into hbar on coinex
Coinspot if your in Australia
Binance
awesome talk
Thanks! Join us on Telegram at t.me/hashgraph :)
Great video and great introduction! I just have a different view about "the whole purpose of PoW is to make it run slower". You can argue that it is the result: the transaction is slowed down due to PoW, as PoW is required for the permissionless consensus in blockchain-type DLT (at least today's Bitcoin and Ethereum). It is the result, not the purpose. The purpose is more on something else. Just my opinion.
Naw, it is the purpose. If blocks were being completed too fast, you would end up with excessive amount of forks happening. It needs to go at a maximum speed to avoid splits in the chain. If it is not slowed down by design, it would lose all its value.
It is the purpose since he explains you slow it down by solving a useless math problem that's hard to solve because you need a large rig with a lot of electricity. What else would be the purpose of this?
Wow, sounds awesome!
Ya gotta love the doc
Good times here!
@Dr. Leemon Baird; at the 28min 30sec mark of this viedo, a question was asked which has been mine and is one I can't explain fully since following Hashgraph back in 2016, and from all these videos and white papers I have read on Hashgraph this is the closest you have come to explaining but didn't finish in this viedo.
"How does a node KNOW what the node it is about to gosip to KNOWs, before it gosip to it in one way communication; without first comparing each node's version of the hashgraph (which would require multiple transactions and increased bandwidth)".
The best I have come up with is the parent node will tell the child node in the gossip workflow everything it can see that the child node can't based on what the parent node can see in their version of the hashgraph they have at that point of time. Which could be telling them some overlapping information they already know but not a lot.
The other idea is when one node gosips to another; the child node then gosips back to the parent before moving on.
It is also unclear to me how a node would deal with gosiped information from a malicious node that suggests gospi order is different to the nodes version of the hashgraph? Does hash proofs solve this?
Can you please do a viedo explaining the "very cleaver ways" Hashgraph nodes can work out what the nood it is about to gosip to KNOWs before it sends gosip information to minimise network traffic and data transfer, which keeps Hashgraph as efficient as you describe in this presentation.
Love the "third party algorithm" problems you are solving with Hedera Hashgraph, big fan and love hearing you talk about the mechanics of how Hashgraph works. Keep up the amazing efforts and progress! 🔥
What's the overhead to do the virtual voting? It is a math problem albeit relatively fast compared to proof of work.
Minimal because it is computational while the gossip is bandwidth. So while Gossip is happening, the virtual voting is being cast simultaneously. The bottleneck is the internet, even though I wouldn't call 250k trx a second a bottleneck.
That really was one heck of a higher level question.
WOW, Genius man
Wouldn’t sharding affect the consensus ? Assuming you only have a set of full nodes getting transaction information , how would that work ? Wouldn’t you have to check the nodes in that shard and then the overall order ?
I would assume something similar to virtual voting would be done for everyone within a shard? Just a wild guess.
How does the protocol take care of inaccurate timestamps or clock sync issues between all the nodes in the graph?
It is determined as the median time of the transaction as reported by all nodes. Which means any inaccurate outliers have a negligible effect on the accuracy of the consensus timestamp.
Maybe they should have used the hashgraph to sync the audio with the video
I have a question : can alt coins who run blockchains now convert their technology toward harshgraph in the futur if they want to without stepping back from the progress they made previously ?
Christopher Corsi Sadly no :/
Yes they can I believe it’s just about plug and play with ethereum projects
smart contracts (solidity) for example are possible to run on Hashgraph. They already built this service. But if you built natively on HCS (hedera consensus service) you don't need these slow smart contracts. There is enough information in the HCS that can easily replace smart contracts. Hedera just launched a new service called "scheduled transactions" which is essentially just that. hedera.com/blog/announcing-scheduled-transactions-on-hedera, Leemon made a video over here aswell: ruclips.net/video/UL8e2AVdS1w/видео.html
I'd be interested in the process of booting a new node into the system, and failover/recovery of nodes in the network (pardon the use of the term node)
How do you agree on a "good" timestamp? This seems like a MAJOR venerability. Different network latency times between nodes could make it impossible to determine the actual time of an "event".
You need to visit the simple explanation of Hashgraph video. You made a lot of unfounded assumption here. To begin with, you only need more than 2/3 of the nodes to come to consensus, which will also sort the order of the transaction using the median timestamp. Nodes going offline does NOT affect the consensus, neither can a node manipulate the time they came to consensus.
You are watching a video on a proven technology. Swirlds has already demonstrated Hashgraph in action.
One Question: In practice, does _Fairness of ordering_ = The Guys with the biggest number of fast computations that are closest to the network central nodes (below picosecond 10cm fiber optical cable plugged system right in central network nodes of all biggest ISP = biggest investment banks who have most money/expertise to do that, because they already do that).
Not a problem with Hashgraph - This is a problem of how the internet works :-)
i sold stock on fidelity and it took a week to get the cash in my bank account. why can't they make stocks on a ledger so they pay out faster
We now in the future!
This seems pretty cool, but I wonder if multicast can increase the performance of this that much more.
Technology using the gossip protocol, any nodes talking to any nodes, randomly. It doesn't really get any faster. Adding features on top will dilute its function.
Congrats 🎉for all badges of Hbar < $1 😊😊😊😊
58:00 governor chip slows you down
"Gossip about gossip is unprecedented"
Excited to see how this DLT platform will integrate into many different industries.
It was painful to hear some of these questions. I suppose they are the college of business. But most of the questions indicated no real understanding of block chain protocol and how it's slower then gossip about gossip.
I would have thought Harvard college of business would have done their homework.
Who was the "same customer" he avoided saying at 1:14:45?
Hope 10k HBAR is enough to make it
2022 bout to watch
Posable use cases - Under ground utilities maintenance logs and material bought and sold logs .Water qualities live up to date (no flint Michigan repeats)
Will this be the next way for our new voting system 🤔
The flaw is How do you have the same timestamp reference across the nodes? Now we have to use the NTP hardware with GPS to synchronize the timestamp across the nodes
Hi Dac Toan Ho ! Thank you for the comment. It is a MEDIAN timestamp taken from the entire community. If a node was acting maliciously it could set his internal clock at year 1940, or maybe year 2550. An assumption is made that most members are honest. (We also have to have 2/3 honest nodes for the system to reach consensus - but theorems say this is the best any DLT can be). This is an extremely accurate system. Follow us here: t.me/hashgraph hashgraph.com swirlds.com or hashgraphboard.com Thanks!
So we're going to have islands of private servers that all use their own private blockchains? So the internet isn't going to change, and it will remain centralized? Make the software public, let people spread it like the good virus it is.
greatjob
Just watched that video I am going to buy tons of Hbar rn.
Hedera is in a league of it's own!
just 2 hashes and thats it wow. this alg is revolutionary
I have two questions: is this censorship resistant? and does it have any privacy attributes?
It supports all functions of privacy, including KYC, PDI, GDPR, etc. What the network is essentially is, it's an algo, not a blockchain. What you build on top of the algo cannot be observed by a 3rd party unless the company itself decided to disclose what they were using it for.
What is the math theorem that one third of the actors in a population cannot be evil. I've tried looking for it but cannot find it.
So how high in price can HBAR reach long term 2030 -2035 ?
So what happens if you join an app after it has been ruining for years? Do you have to download the entire history of the app's graph, and wouldn't that take forever?
Imagine having to download years of gossip.
no
It is better to raise only as much as you need, privately, and release your blockchain to the public only after you have tested it in a controlled environment.
You will create a "singularity" when you go public with your coin, because there will be a ton of pent up demand. Is there a way for a developer like myself to get in on this project early? I guess it can't be mined or anything -- but it would be nice to put a stake in the project, or at least play with the development API or SDK or whatever.
Do you have a bounded token sale? This is a great way for hobbyists to get tokens, without risking a blow-up valuation in your project.
wow
Thanks! Join us on Telegram at t.me/hashgraph
You start with a search engine and you work towards becoming Alphabet... Leemon has had the long view in mind from the outset. Hedera is on a path to become the 'Alphabet' of the tech world - only decentralized and permissionless.
Its the exact opposite of permissionless
@@Ryan-xq3klit will be, that is in the plans
The kids at this lecture are millionaires now lol
Question for the viewer of the future. How much has this algorithm changed your present?
we teleported in time to the past and created satoshi
@@SpotlightStandup bro I am buying hahah
BTC dropped hard yesterday, I´m moving everything I had to HBAR since it is undervalued
high risk high reward
They started a public ledger and there are currently over 6 million transactions a day run on it. The have partnered with Google, Boeing, LG, IBM, Chainlink, many banks and other fortune 500 companies to help govern the ledger. Small market cab though only 2.5 billion.
@@gomesdiogo
Wise choice 😃 sir. I've Hbar and Cardano. I believe deeply in those two. Just a small handful of 999Hbar. Gotta get more before the year runs out. HBAR is the future of computing. Their ecosystem is really strong even though many people are yet to know about it.
These gossip diagrams remind me of Minkowski space-time diagrams.
Staking coming Q2 '22?
Leemon is very likeable.
Who is still here 10/9/21🔥
32k shares as of today. I’ll respond to this comment in a few years.
Ziveli 🍻
Hello Future!!
Thank God there are people this smart. With our modern internet, I bet those guys were thinking about our internet in the 40s and 50s. Hashgraph and all of the other technology Lehman is talking about won't be available until 2090 and beyond. I'll be long dead but I'm happy for the progress
I think you are underestimating the exponential growth that can happen in crypto
Nope. It is starting to happen now, and should be up and running by 2030.
Funny I found this video, I just got into cryptocurrency 3 weeks ago, the first week in I was telling my partners that everything would be going to blockchain, all transactions and physical assets will be in the blockchain. I kept harping on a company called chainlink and companies like it was going to be bigger than bitcoin. Bitcoin is just a cryptocurrency but all blockchain will end up using Oracle's, smart contracts. So my question is how does hashgraph compare to chainlink? Better? The same? Or less equivalent?
No comparison....did you watch the talk?
@@retrophonicbotique no, where can I get it?
@@richardbellsr2345 jazz master is talking about this video you’re commenting on. :-D
Chainlink is now on Hedera's governing council.
Can u have a trusted voting system
Will this be the next Bitcoin??
OPEN SOURCE AND BLOCKCHAIN MIGRATION
Will it be released as OPEN SOURCE and when? And will there be some kind of MIGRATION of the current blockchain cryptocurrencies to Hashgraph or Billions of invested dollars will be lost and the TRUST of millions of investors around the World. For example, Bitcoin migrates to Hashgraph and offers 1:1 coin exchange. This will secure Billions in investments Worldwide.
Is this eventually going to be open source ?
havn't tested it but it could become something
github.com/babbleio/babble
Agreed, no doubt it will be great. I'm waiting for the ultimate decentralized platform we can use.
Hashgraph is open source, just not open license
Dr Leemon i am sold
Hedera will take over the top dogs I promise as Bitcoin is too Slow, Ethereum and it's Gas fee is too Expensive, Hedera Hashgraph will be an evolution in the Crypto world it will be sceptical as it's the new thing as was Bitcoin and Ethereum. Patience Is Key.
The two hashes can be compressed to 1-2 bytes each, really? 2 bytes=16 bits=65536 possibly unique hashes?
This guy is amazing, and he shops for shirts at the same store as Bill Gates.
He spent all that time you spent shopping for clothes on thinking about really hard stuff. The results are visible. That's how it goes. Life is a trade-off.
nanomyou5 haha jokes on you I like his shirt.
Howyounotknow Gates, the eugenics man that has vaccines made to kill and harm people. Depopulation, Georgia Guidestones.
All vaccines have many poisons in them. "Death by Injection". Type in "Death by injection" and watch the video, save your life and your children's. .
Christine Adams Y'cuda
This is literally spec'd out to be the next generation of Crypto; it is the "Un-Blockchain" to borrow a catchphrase from SNK:
"The Future is now."