Blockchain
What is blockchain ?
blockchain is a method of recording information that is imposible to hack
or manipulated .
Blockchain tech is a structure that store the Transaction Records of the
public in several database known as “chain”
Blockchain support various application such as finance , Supply chain ,
security Etc.
Advantages of BlockChain
Highly Secure Decentralized Automation
System Capability
Cant be Alter
once deployed Safer and
faster Transaction can be
{ IMMUTABLE } automated
(Autopay)
Structure and design of
blockchain
A blockchain is a Dristributed , immutable and decentralized ledger at its
core consist of set of data .
Cryptography techniques links the blocks together and form a chronological
information
The structure of blockchain is Designed to ensure Security of data Through its
consequences machanisms which has networks of nodes that checks the validity
of transactions
The structure consist of
1) Block
2) Block time
3) Hard Forks
4) Decentralization
5) Finality
6) Openness
Block
block contains:
1) Header
: contain metadata and previous block Hash
2) DATA section
: contain actual information
1) transaction
2) SMART contract
3) Hash
: A unique cryptographic value that represent the entire block
and Also use for verification
Block time
repepresent time taken to generate new Block in blockchain
Hard forks
refers to perment diversion of the blockchain result in two saprate chains
Decentralization
It defines the no single central authority can control the network
It promots transparency , trust and security
Types of Blockchains :
Private Blockchain Network
Public Blockchain
Private Network
Blockchain Network
Permisioned Blockchain Network
Public Blockchain Network
Consortium Blockchain
Permisioned Blockchain Network
Hybrid Blockchain
Sidechain
Consortium Blockchain
Layered Blockchain
Hybrid Blockchain
Sidechain
Layered Blockchain
1) Private Blockchain Network
Private blockchain network operates on close Network and use
by private buisnesses and organizations
Companies use private blockchain network to customize their
accesiblity , authorization preferences and other security
options
Only one outhority manages private blockchain network
2) Public Blockchain Network
Public blockchain network helps to eliminate
certain challenges and issue such as security and
centralization
DLT( Dristributed ledger technology)
it distributes data across peer-tp-peer
network
POS(Power of Stake) && PoW( power of works):
• these consensus method are used
3 Permissiond Blockchain Network
• Permissioned blockchain networks is a private
blockchain network that allows special access for
authorized individuals
4)Consortium Blockchain Network
• Consotium blockchain network have public and
private component
• Multiple organizations can manage a single
consortium blockchain network
• More complex provide better security
5) Hybrid Blockchain Network
• Combination of public and private blockchain network
• Here some part is public and tranperent some are private and
authorized by specific parties
6) Sidechain Blockchain Network
• Sidechain run on parallel to main blockchain network
• Scalable
• They use for experiment on network withought affecting main
network
• Used for reduce congections (traffic) on main network
7) Blockchain Layers
Blockchain layer refers to the concept of building multiple layers
of blockchain on top of each other
Each layer has its own consensus mechanisms rules and
functionality wich can interact with other layers
This ensure Grether scalablity as transaction process parallel
across different layers
Example : Lightning layer are build on top of bitcoin blockchain
id a second layer solution that enable faster and cheaper
transaction by creating payment channel between users
The process of transaction
One of the blockchain main technology cardinal
feature is how to confirm authorized
transactions.
Example: If two individuals wish to
performe transactions with public and
private keys
• first persons party will attach a transaction to the
public key of second party to the block contains
Timestamp , Digital signature and other revelent
information
• The block is transmitted across to network’s nodes
• When the right individuals usage his private key and
matches with the block then transaction gets
completes successfully
Hash encryptions
the SHA-256
The address of Algorithms make
Blockchain sender (public key) , blockchain to
technology usages the address of imposible to hack
Relying on on SHA-
Hashing and the receiver and her and the Hash
256 Algorithm
encryptins to secure private key details encryption
data are transmitted by Simplyfling the
SHA-256 Algorithms sender and receiver
automatically
Proof of work
In blockchain each bloc contains 4 main headdes
Previous • the Hash address located to previous Block
Hash
• an arbitrary number given in cryptography to
Nonce differentiate the blocks Hash Address
Transaction • details of transaction that needed to be
happen
Details
Hash address • this gives an 256-bit 64-character length
value called unique Hash address (Hash of
of block the actual
Mining
In blockchain technology the process of an
adding transaction details to the present digital
ledger is called mining
Mining involves the generating Hash code of a
block transactions wich is tough to get or fourge
It ensure the safty of the entire blockchain
network without relying on central system
