Blockchain
Details
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Blockchain
Blockchain is a growing record list of records, which are linked and secured using Cryptography.
Each block contains
. a hash pointer as a link to previous record
. a timestamp
. a transaction data
The value of Blockchain lies in operating as "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.
Technically, a Blockchain is a distributed computing system with high Byzantine fault tolerance. This implies "decentralized consensus".
Blockchains are useful for
. recording events
. identity management
. transaction processing
. documenting provenance
By virtue of a peer-to-peer network and a distributed timestamping server, a blockchain database is managed autonomously.
We will also review the BitCoin aspect of a Blockchain network.
Satoshi Nakamoto's paper
https://bitcoin.org/bitcoin.pdf
The session deliberates and focusses on the technical aspects of Blockchain and implementation usecases (esp. in systems engineering and container based infrastructures).
