Essential Components of Blockchain

Blockchain uses:

Smart contracts, data immutability, currency, naming systems, NFT's 

Smart contract compared to AWS... they act as a computer

Consensus; each computer agrees on the order and contents of date being processed, determine when the agreement has been reached. *Not always instant.

#Consensus Algorithms...

Blockchains have a finite capacity... memory CPU disk & bandwidth 

A Very Simple Introduction: What Is a Blockchain and How Does it Work? | Cedric Mössner, GBI

Obakeng Kunupi
Module by Obakeng Kunupi, updated more than 1 year ago
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