Understanding blockchain requires to understand many other disparate parts: peer-to-peer network, proof of work, cryptographic hash, consensus algorithm, decentralized architectures, double-spending, mining, unspent transaction output, wallets, distributed ledgers, the genesis block, nonce, … is a web site to visualize those parts, interactively explore possibilities, play with parameters, consider alternatives, question assumptions, and even questions the trustworthiness of blockchain technology. blockchain calm This article presents you snapshots from , a springboard for critical thought and deep understanding on blockchain. blockchain calm 1. Peer to peer network A network consisting of 12 peers is slowly built before records are sent 2. From the genesis block all the way up The Genesis Block kicks off by giving 1,000 coins to Joe. Money will flow from account to account but without the concept of mining the sum-game will always be 1,000. 3. Computing the ledger Any new block in the chain forces an update on the ledger 4. Double Spending Joe has 1,000 coins. An attempt to send 500 to Ronald and 800 to Freddie ends with one transaction being rejected. 5. Proof of work When creating a block we look for a value called a to combine with the payload to form a hash beginning with as many 0-bits as the property defines nonce difficulty

Too Long; Didn't Read

Discover Saakuru: Web3 Mass-Adoption with 0-FEES

Blockchain, calm

Too Long; Didn't Read

yolpos

About Author

TOPICS

THIS ARTICLE WAS FEATURED IN...

Blockchain, calm

Too Long; Didn't Read

yolpos

About Author

TOPICS

THIS ARTICLE WAS FEATURED IN...

RELATED STORIES