blockchain_talk.md

• slide 1: ✅

  • Comparing traditional databases, like SQL and NoSQL, with blockchain databases. -with each row representing an entity or record.
    • In traditional databases, an entity is a row in a table, capable of CRUD operations - Create, Read, Update, Delete.
    • Blockchain treats transactions as rows, but typically only allows Create and Read operations, making data immutable.
      • blockchain database, where each transaction is a record added to a growing list called a ledger.
  • transactions are verified in blockchain through consensus and are secured with cryptographic signatures, unlike traditional databases.
  • each transaction in a blockchain has metadata like timestamp and is linked to previous transactions, forming an immutable ledger

• slide 2: ✅

  • centralized system, like a traditional company database, where one entity has control over all the data.
  • decentralized system, where control is distributed among multiple entities, as seen in a blockchain network.
  • Each organization within the blockchain network operates a node that has equal rights to validate and record transactions.
  • distributed nature of blockchain databases across the network, enhancing transparency and trust among all participants.

• talk during miner ppt ✅ : miner

  • Transaction Pool: miners select transactions from a pool, often prioritizing those with higher fees for inclusion in the next block.
    • t1, t2, t3
  • Block Creation: Discuss how a miner aggregates several transactions into a new block and calculates the block's hash, which includes the previous block's hash.
    • block creation is done by miner
    • create bolock b1 : t1, t2, t2
  • Network Validation: Highlight the process where the newly mined block is sent to the network for validation by other nodes.
    • b1 send to the n/w for validation
  • • Consensus Achievement: Mention how network nodes validate the block by checking the hash and transactions, reaching consensus to accept the block.
  • • Chain Linking: Emphasize how each block references the previous block's hash, creating an unbreakable chain and ensuring data integrity.
      • chain created : b0 -> b1
  • • Block Attributes: Point out typical attributes of a block, such as its size (e.g., 1MB for Bitcoin) and the identifying miner.
  • Immutability: Explain that once a block is added to the blockchain and accepted by consensus, altering it would require re-mining that block(re creating that block) and all subsequent blocks—a near-impossible task, ensuring the immutability of the blockchain.

• ++ consensus: talk during miner ppt ✅

  • Consensus in blockchain is a fundamental concept that refers to the way in which all the participants of a blockchain network reach an agreement on the current state of the distributed ledger
  • Here are some high-level points on consensus:
    • Ensures all transactions are validated and agreed upon by the network before being permanently recorded.
  • Consensus in blockchain is like a group decision-making process. It's used to agree on the validity of transactions before they're recorded on the ledger