Blockchain data structures and fundamental

Blockchain data structures and fundamental

• 1.
  Blockchain Data Structureand Fundamentals Satoshi nakamoto (Anonymous) was the person who invented the blockchain in 2008 to serve as the public transaction ledger of the cryptocurrency bitcoin.
• 2.
  What is blockchain? Blockchainis a growing list of records called blocks which are linked using cryptography. Where cryptography is the practice and study of technique for secure communication in the presence of third parties called adversaries (black hat hacker ).In blockchain each block contain cryptographic hash of the previous block. Where cryptographic hash is special class of hash function that has certain properties use in cryptography. In its most simple sense, the blockchain is a series of computers that each keep the same record of an event or transaction in a ledger that is open to the public.
• 4.
  Why Blockchain? Blockchain isdecentralized computation and information sharing platform that enable multiple authoritative domain. Blockchain technology is useful when multiple party want to ● Cooperate ● Coordinate ● Collaborate with each other. It made for implemented bitcoin to solve the problem of “double spending”.
• 5.
  Double-spending is apotential problem in which the same digital currency can be spent more than once. ... It is not ideal for the same digital currency to be spendable more than once,so in blockchain each record is encrypted, and the ledger is virtually hack-proof.
• 7.
  Properties of blockchain ●Replication : Data copied every computer that part of decentralized network, no lies any central authority. ● Irreversible transactions : After completion of transaction no way to retrieve fund sent. ● Accessibility : Open ( every person in blockchain get a copy of transaction and they should read and view of recorded data)
• 8.
  ● Pseudo anonymousnature : Identity of user is not traceable by third party. ● Elliptic curve cryptography : With revealing identity network confirm transaction by private key of admin.
• 10.
  Characteristics of blockchain ●Decentralized ledger : This make blockchain multi-organizational business network. ● Distributed ledger : It allows transactions in blockchain to have public "witnesses," thereby making a cyberattack more difficult. ● Safer and secure : immutability of the data. Once you have agreed on a transaction and recorded it, it can never be changed. ● Smart contracts : The types of transactions one can carry out are agreed between participants in advance and stored in the blockchain as “smart contracts” which helps give confidence that everyone is playing by the rules.
• 11.
  Types of blockchain
• 12.
  ● Public Blockchain: No access restriction every participant would able to read and write. ● Private Blockchain : It is permissioned based in which network administrators (owner) invite to selected member, It is read by all but only owner has the right to making any changes in rules or other terms. ● Consortium Blockchain : It is semi-decentralized system in which number of organization controlling to it. Control of write, read and verify provided to group of organization.
• 13.
  Data structure ofBlockchain The blockchain data structure is a back-linked list of blocks of transactions, which is ordered. It can be stored as a flat file or in a simple database. Each block is identifiable by a hash, generated using the SHA 256 cryptographic hash algorithm on the header of the block. Each block references a previous block, also known as the parent block, in the “previous block hash” field, in the block header.
• 14.
  Class diagram of Blockchain
• 15.
  BLOCK HEADER Theblock header consists of three sets of block metadata. Metadata is data that provides information about other data. Firstly, there is a reference to a previous block hash, which connects this block to the previous block, lying in the blockchain.
• 16.
  Blockchain use casesarea ● Banking - Avoid bank interest rate and financial crises . ● Payment and transfer - Blockchain wallet. ● Healthcare - Detail of passion access by all doctor in network . ● Law enforcement - Make Law Enforcement records immutable .
• 17.
  Blockchain use casesarea ● Voting - Currently most valuable and important use case of blockchain . ● Internet of things - The blockchain can keep an immutable record of the history of smart devices. ● Online Music - Cut Out the Middlemen fans could choose to pay for the song. ● Online gaming - Reduce Fraud and Lost Revenue more exciting and parallel gaming universess
• 18.
  Ethereum and Solidity
• 19.
  Ethereum is opensource online platform for blockchain system which help to manage cryptocurrency. It provide smart contract functionality which facilitates online contractional agreements. We implement or setup our own digital bank using blockchain ethereum
• 20.
  Solidity preferred defaultlanguage for writing program in blockchain. t is designed to compile to code - for the ethereum virtual machine, it is contract - oriented programming language for writing smart contract which is influenced by javascript, c++, python and powershell. Solidity basically designed to target ethereum virtual machine.
• 21.
  Conclusion Blockchain use mathematicsto create a secure distributed ledger which enable transaction without the need for third party. Blockchain technology could be quite complementary in a possibility space for the future world that includes both centralized and decentralized models. Like any new technology, the blockchain is an idea that initially disrupts, and over time it could promote the development of a larger ecosystem that includes both the old way and the new innovation.
• 22.
  Github repository Implementation ofbitcoin on blockchain using c++ language Fork and clone repo and make new change, link is provided below https://github.com/dheerajbishnoi123/Blockchain-Implementation-c-plus- plus.git
• 23.
  About Author Dheeraj Poonia Iam a passionate python programmer, web developer, blockchain lover, badminton player, graphic designer. Currently living in Jaipur, India. My interests range from technology, sports to music. I am also interested in competitive programming and innovation. https://about.me/dheerajbishnoi123