Blockchain

Blockchain

1. mean?

   • database
   • Timestamped Records
   • Immutable
   • Confidentially
   • Availability

2. miner

   • verify
     • Proof of Work
       • random hash
         • data + nouce
           • less then taget
             • Block has verified

3. Consensus Protocol

   • Proof of Work (PoW)
     • Pros
       • Decentralized
     • Cons
       • very slow
       • used more power
     • miner
   • Proof of Stake (Pos)
     • Pros
       • very fast
       • saved power
     • Validator
       • for verify
         • lock stake
           • new Block
             • random stake (if more stake you have more change to verify)
               • verified
     • Cons
       • more stake = win

4. verify

   • reward
     • Transaction Fee

5. Bitcoin (BTC)

   • A currency
   • 1 Satoshi = 0.00000001 BTC
   • competing against existing money (and gold)

6. Ether (ETH)

   • A token
   • 1 Wei = 0.000000000000000001 ETH
   • Smart Contracts

7. property

   • Block
   • Nonce
   • Data**
   • Hash
   • Difficulty
   • Next / Previous block
   • Timestamp
   • Block Reward
   • Size