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Training Workshop - Blockchain Basics

Blockchain is a shared, distributed ledger that records transactions across multiple computers in a secure, transparent and tamper-resistant way. It is decentralized, with each participant having access to the entire ledger. Transactions are grouped into blocks that are cryptographically linked together in a chain, allowing data to be recorded and accessed securely. For a transaction to be added to the blockchain, nodes must reach a consensus according to the network's rules. Once recorded, the data can never be altered, providing transparency and immutability. Blockchain uses smart contracts that automatically execute transactions when predetermined conditions are met.

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32 views3 pages

Training Workshop - Blockchain Basics

Blockchain is a shared, distributed ledger that records transactions across multiple computers in a secure, transparent and tamper-resistant way. It is decentralized, with each participant having access to the entire ledger. Transactions are grouped into blocks that are cryptographically linked together in a chain, allowing data to be recorded and accessed securely. For a transaction to be added to the blockchain, nodes must reach a consensus according to the network's rules. Once recorded, the data can never be altered, providing transparency and immutability. Blockchain uses smart contracts that automatically execute transactions when predetermined conditions are met.

Uploaded by

vuthihoangngan220905
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Definition

Main def
 “Blockchain is a shared, immutable ledger that facilitates the process of recording transactions
and tracking assets in a business network.” - IBM
 “Blockchain technology is a decentralized and distributed digital ledger system that records
transactions across multiple computers in a way that is secure, transparent, and tamper-
resistant.” - ChatGPT
 “A blockchain is a distributed database or ledger shared among a computer network's nodes” -
Investopedia
Related def
 Ledger can be understanded as a book or digi record of company’s accounts
 Assets can be tangible and intangible

Key characteristics
1. Decentralization: work on a network of computer (nodes)
a. Better security
b. Reduce risk of failure
2. Distributed Ledger:
a. A blockchain is a digital ledger that records transactions in a sequential and
chronological order.
b. Each transaction is grouped into a block, and these blocks are linked together in a
chronological chain.
c. All network participants have access to the distributed ledger and its immutable record
of transactions.
d. It is maintained through the nodes each of which has a copy
e. DLTs allow information to be stored securely and accurately using cryptography.
f. The data can be accessed using "keys" and cryptographic signatures.
g. Once the information is stored, it can become an immutable database; the rules of the
network, written into the coding of the database programming, govern the ledger.
3. Consensus on data:
a. These are rules that determine how nodes agree on the state of the blockchain.
b. Proof of Work (PoW) and Proof of Stake (PoS) are common consensus mechanisms used
in various blockchain networks
4. Immutability
5. Transparency: Blockchain transactions are typically visible to all participants in the network
6. Smart contracts:
a. Smart contracts are simply programs stored on a blockchain that run when
predetermined conditions are met.
b. They typically are used to automate the execution of an agreement so that all
participants can be immediately certain of the outcome, without any intermediary’s
involvement or time loss
c. Executed automatically
How it works
Transaction:

 As each transaction occurs, it is recorded as a “block” of data


 Block: What Is a Block in the Crypto Blockchain, and How Does It Work?
o A block records some or all of the most recent transactions not yet validated by the
network.
o Once the data are validated, the block is closed
o Once it is full, the information is run through an encryption algorithm, which creates a
hexadecimal number called the hash.
 Those transactions show the movement of an asset that can be tangible (a product) or
intangible (intellectual).
 The data block can record the information of your choice: who, what, when, where, how much
and even the condition — such as the temperature of a food shipment.
Connection:

 These blocks form a chain of data as an asset moves from place to place or ownership changes
hands.
 The blocks confirm the exact time and sequence of transactions, and the blocks link securely
together to prevent any block from being altered or a block being inserted between two existing
blocks.
Blocked:

 Additional block strengthens the verification of the previous block hence the entire chain
 This renders the blockchain tamper-evident, delivering the key strength of immutability
 This removes the possibility of tampering by a malicious actor — and builds a ledger of
transactions

Source link
Guest:

ETHVietnam (eth-vietnam.com)

SUCI Blockchain Hub

Others:

Binance - Cryptocurrency Exchange for Bitcoin, Ethereum & Altcoins

VIC Crypto - Kênh tin tức thị trường tiền điện tử hàng đầu tại Việt Nam

Activities:

upgrad.com

Tất tần tật về Công nghệ Blockchain mà bạn cần biết (dtsoft.vn)

nec-activities-on-blockchain
Blockchain 2022 Legislation (ncsl.org)

Academic:

Blockchain Tapping Its Potential and Insuring Against Its Risks

Blockchain Technology and Cryptocurrencies: Implications for the Digital Economy, Cybersecurity, and
Government

Financial Sector And Blockchain Technology: Challenges And Applications.

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