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October 11, 2016, 06:14:20 PM Last edit: October 11, 2016, 06:40:31 PM by franky1 |
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a blockchain course?? lol thats about 10 minutes of explanation. because blockchain is only 10% of the 'features' that make things like bitcoin secure.
here is the low down of explaining "blockchain"
imagine there was a clump of data.. well lets call it a block of data(reason becomes obvious later).. ill use short example of only 3 entries. instead of thousands.
DAVE: 0.2 sends to ADAM: 0.1 FRED: 1.2 sends to ABBEY: 0.2 PETE: 0.6 sends to MARY: 0.1
instead of sending all 3 (thousands) of entries to compare with other people to ensure they have it too. we can send a single bit of data that represents all of the entries.
for simple explanation. lets use MD5. by hashing the block of data we get the md5 hash: f48190892e689319fa01fc5378a2815a
this hash would change if any of the data was missing or altered. so by sending that exact hash, if the other person has it, then they both know they both have the same entries. and all the entries are identical.. cool right? able to validate a block of data without having to send the contents
now here is the next fun part.
imagine we have another block of data,
MIKE: 1.8 sends to TIMMY: 1.1 CLIVE: 0.2 sends to CHRIS: 0.1 JIM: 3.6 sends to DANIEL: 3.1
hashes to c2f4298a37a830cb219d8539f1b10b80
now lets say you want to ask someone else if they have both blocks of data, and check both blocks of data are accurate. you dont need to send the 2 hashes. instead you can send one hash. and here is why
you simply add the hash of the previous block into the data of the current block, thus linking them together eg
MIKE: 1.8 sends to TIMMY: 1.1 CLIVE: 0.2 sends to CHRIS: 0.1 JIM: 3.6 sends to DANIEL: 3.1 f48190892e689319fa01fc5378a2815a
this block of data now has the hash: b73c1e9409095b30d1e5a4b3c64fe71e
again knowing that changing any of the data of the first blocks changes that hash and if that hash or the entries of the second block changes, the new hash would change.
so just sending b73c1e9409095b30d1e5a4b3c64fe71e to another person and if they too have that same hash then they both have the exact same data of both blocks. now imagine you add the hash to another new block. linking all the blocks to each other and only needing to send the latest hash to prove you have accurate data of all blocks.
this linking of block data via adding a hash to each block is called chaining blocks.. or simply blockchain.
now some notes: using different hashing methods to achieve this, EG SHA1,2,3 or other hashing variants is within the realm of "blockchain"
but things like double securing the hashes EG ProofOfWork, ProofOfStake and other proofs, are optional extras outside the scope of "blockchain",
now imagine what comes next is great for colleges... (a course 'selling point') but please feel free to sign up to a proper 'course' on POW (technically detailed) but please feel free to sign up to a 20 minute 'course' on POS (doesnt need to be technical)
you can also learn about securing individual entries of data and proving the writer of the data has ProofOfAuthority but please feel free to sign up to a proper 'course' on ECDSA keypairs, messages and signatures (technically detailed)
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