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Blog_Post: Blockchain

Gökhan Şimşek edited this page Apr 4, 2019 · 1 revision

1. What is Blockchain?

a) What is Blockchain:

(short)
A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography.

(longer)
It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.

Source: https://en.wikipedia.org/wiki/Blockchain

b) Block structure:

i. Basic block structure

Source: https://medium.com/@lhartikk/a-blockchain-in-200-lines-of-code-963cc1cc0e54

ii. Block structure in Bitcoin blockchain

Source: http://computersecuritypgp.blogspot.com/2016/05/what-is-blockchain.html

c) How Blockchain works:

Simple

Source: https://bitsapphire.com/wp-content/uploads/2017/01/Blockchain-industry-innovation-or-overhyped.png

In Detail:

Source: http://www.relativelyinteresting.com/wp-content/uploads/2016/06/how-a-bitcoin-transaction-works.jpg

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