My Image
CoursesQuizzesProblemsContestsSmartBooks
Contest!

No results found

LOGINREGISTER
My ProgressCoursesQuizzesProblemsContestsSmartbooks
Published on 14 Jul 2021
Block chain (part 1) THE DIFFERENT ASPECTS OF BLOCK CHAIN
In the today's world you have come across so called as the digital trust.Digital trust is the ability or the confidence
img
vaibhav pawar
0
Like
129

Block chain (part 1) THE DIFFERENT ASPECTS OF BLOCK CHAIN

In the today's world you have come across so called as the digital trust.Digital trust is the ability or the confidence of the particular user,technology or the processes that create the secure world.Digital trust is given to companies who have shown their users they can provide safety, privacy, security, reliability, and data ethics with their online programs or devices.

When we deposit money into a bank, we trust that the bank will not modify our accounts. Similarly, when we conduct retail transactions, we expect to receive adequate goods in exchange for the money we spend. By adopting blockchain, bitcoin and other cryptocurrency providers have removed the burden of trust from third-party financial institutions and placed it on the technology that sustains it.

Image

The blockchain is nothing but the globally shared,transaction database.This mean that everyone can read the entries in that particular database.That mean it provide the transperency and the security to the particular user.If you do any transaction within that database no other transaction cannot alter it and if you want to do any changes within that database you have to do transaction that is valid or accepted by the others as well.

Image

ASSET

As we discuss above about the transction .It mean we done the transaction of something so it is some type of asset correct so in blockchain asset is a natively digital asset like Bitcoin or a digitalized traditional asset like digital gold, a stock or a title; where the record of ownership is recorded within a public or permissioned distributed ledger network.

ImageTransaction
In a simple language blockchain is the network of the computer that store the transactional data in replica across every pc node in the system.That condition of storing the data called is called the distributed ledger.This data is inserted in this ledger in the form of the intevale's called as a block.All block are the time stamped and its order and transactions are verified.This method of storing data in duplicate creates a chain of transactions or in other words, a blockchain.Blockchain transactions bring huge advantages in terms of transactional speed and transfer fees. A normal bank transfer can take a week to complete. The delays are the result of numerous third-parties operating verification system.
ImageDistributed leder technology
This technology don't have the central authority that govern it.This is the method of the recording the data that data is of digital presence and store on the multiple places at the
same time.Difference between the DLT and the blockchain is that theblockchain has the particular structure that is maintain by the peer-to-peer network as well which make it more
distinct from other DlT.The DLT is ledger that distributed or spread through the several network and each node replecate and save the identical copy of the ledger.However, the
structure of the blockchain makes it distinct from other kinds of distributed ledgers. Data on a blockchain is grouped together and organized in blocks. The blocks are then linked
to one another and secured using cryptography.
components of the block chain
Blockchain is one type of a distributed ledger. Distributed ledgers use independent computers (referred to as nodes) to record, share and synchronize transactions in their respective electronic ledgers (instead of keeping data centralized as in a traditional ledger). Blockchain organizes data into blocks, which are chained together in an append only mode.

In this blog me introduce you the different aspect of the blockchian. Through you can understand the main concept of the blockchain easily. In this part we discuss about the

blockchian, asset, transaction and the DLT(distributed ledger technology).
Enjoyed the SmartBook?
Like
logo
contact@dapp-world.com
Katraj, Pune, Maharashtra, India - 411048

Follow Us

linkedintwitteryoutubediscordinstagram

Products

  • SmartBooks
  • Courses
  • Quizzes
  • Assessments

Support

  • Contact Us
  • FAQ
  • Privacy Policy
  • T&C

Backed By

ah! ventures

Copyright 2023 - All Rights Reserved.

Recommended from DAppWorld
img
1 May 2021
How to connect Ganache with Metamask and deploy Smart contracts on remix without
Set up your development environment with (Metamask + Ganache + Remix) and skip truffle :)
3 min read
11509
5
img
8 Jul 2021
How to interact with smart contarct from backend node js
call and send functions from backend server side using nodejs
3 min read
8103
2
img
18 Aug 2021
Send transaction with web3 using python
Introduction to web3.py and sending transaction on testnet
3 min read
6229
5
img
5 Aug 2021
Deploy Smart Contract on Polygon POS using Hardhat
how to deploy smart contracts on polygon pos chain using hardhat both mainnet and testnet ?
3 min read
5540
3