What is a Blockchain?
- A data structure
- Typically an ordered, back-linked list of blocks with data.
- Each block is identified by a hash
- The hashes protect the integrity of the data
Typically, the blocks in a blockchain contain blockheaders and a payload
Although the payload could be any arbitrary data, it is mainly used for
- Record keeping - who, what, when, and why (ex: ledgers)
- Self-executing code (ex: smart contracts)
- Hashes of arbitrary data (ex: hashes of Images, videos as NFTs)
Introduction to Blockchain
A Few Definitions of Blockchain
"Blockchain is a shared, immutable ledger for recording transactions, tracking assets and building trust." - IBM
"Cryptocurrencies like Bitcoin and Ethereum are powered by a technology called the blockchain. At its most basic, a blockchain is a list of transactions that anyone can view and verify." - Coinbase
"Blockchain technology is an advanced database mechanism that allows transparent information sharing within a business network. A blockchain database stores data in blocks that are linked together in a chain. The data is chronologically consistent because you cannot delete or modify the chain without consensus from the network. As a result, you can use blockchain technology to create an unalterable or immutable ledger for tracking orders, payments, accounts, and other transactions. The system has built-in mechanisms that prevent unauthorized transaction entries and create consistency in the shared view of these transactions." - Amazon AWS
Is Blockchain a scam?
- Blockchain and cryptography are the safeguards against scams and forgery
- Get a few obvious misconceptions out of the way
- Highlight the need for education and awareness
Are Blockchains Decentralized?
- The power of redundancy
- Distributed vs Decentralized
- Decentralization is a spectrum
- The power of decentralization
Centralization vs Decentralization
Types of Blockchains
- Public blockchain networks
- Private blockchain networks
- Permissioned blockchain networks
- Consortium blockchains
Blockchains in Action
Run your own Blockchain!
For tech savvy learners
- Walkthrough of Substrate Node Template