As a beginner, while start learning something new everyone is having a question in mind that, “How to get started?”
When I started learning Blockchain I was in the same situation. So i want to share my journey of BLOCKCHAIN with you, by this every technical worm who is interested in learning new technologies will get idea about this trending technology.
Introduction of Blockchain :
Blockchain is a Decentralise public distributed ledger system in which no third party is involved, when there is a matter of transactions. Transaction can be of any type whether it is of cryptocurrencies, digital documents etc. We can imagine Blockchain similar to Internet which is open to all, everyone can do work of their own choice but can not alter the works of the others. Unlike this blockchain’s data is immutable.
We can also assume blockchain is like a chain of block which can be append only, and each block consist of certain content which is data, previous block’s hash and it’s own hash. The previous block’s hash and Distributed public ledger system is important for maintaining the security of the blockchain. Suppose someone wants to tamper with the records of the blockchain by changing the value of transaction the hash of that block will change, for catching the culprit the calculation of hash will be helpful by some hashing algorithm and all the other blocks become invalid because DLT allows a copy of all the transactions for everyone who is involved in the blockchain.
Terms for understanding Blockchain Technology :
There are many new phrases which you will encounter when you will start learning Blockchain,
- Genesis Block –
Genesis block is the first block of the blockchian which is having the hash value ‘0’ in previous block’s hash.
This block is coded by the developer manually, so that all extended nodes got the idea of working of blockchain
and its pattern.
- Hash Function –
If you are from IT background so you will have a little bit idea about, what is hash or hash function? and if you
are not from this field, so no need to worry, Hash function is a function used to map the data in a fixed size
value which is combination of alpha numeric values.
- Distributed Ledger Technology –
In simple words we can understand a single database which is accessible to all the nodes of the blockchain but no
one can change the content of the block, everyone is having a copy of all transactions of a blockchain but not
having a right to alter the transaction details, that is Distributed ledger which is used by blockchain for
maintaining trust and security.
- Merkel Tree –
Merkel tree is a data structure which is used for storing the hash of the block. It is used in Bitcoin blockchain
as well as in Etherium blockchain for efficient data verification. Merkel root is the hash of hash of the all
transactions of a particular block.
- Consensus Algorithm –
Before putting any transation into the blockchain or adding any block into the chain, verification is needed which is possible with help of certain protocols called consensus algorithm. Bitcoin Blockchain uses PoW i.e. “Proof of Work” as it’s consensus algorithm, PoS “Proof of Stack” for Etherium Blockchain.
There are many more terms related to Blockchain Technology. Once you will dive into the river of blockchain you
will come to know about them.
Very good example of Blockchain is BITCOIN, which is the first cryptocurrency introduced by the mysterious
person or organisation “Satoshi Nakamoto” for handling the financial crises. Many people thinks that Bitcoin and
Blockchain are same but Bitcoin is the implementation on the Blockchain technology. It is a cryptocurrency
which means digital money. Bitcoin is very popular currency worldwide which is used to buy or sell items by
accepting payments in digital wallet. Here 2 keys are there public key which is visible in blockchain as our
address or we can say that is is the identity of a peer, another key is private key which is used to sign the
transaction and allow acces to digital wallet.
Development tools for Blockchain :
Smart Contracts are the digital contracts which are put in the blockchain for executing a particular task. These are like physical contract once a deal is occurred and a contract is form, so no one can change it. Smart contracts do the same work but digitally. Smart contract helps in removing mistrust between parties.
Tools for Developing Smart Contracts :
An online IDE named REMIX ETHERIUM IDE which provides a plateform for building and also for executing or
deploying smart contracts. It is an etherium based plateform which uses virtual ethers, which is a cryptocurrency
follows the principles of Object Oriented Programming Language ( Link for accessing the IDE ).
Tools for developing Blockchain :
Hyperledger is an open source framework for developing Blockchains, it was introduced by the “Linux Foundation”.
There are many tools and flavors of hyperledger based on the usecases, which means we can use frameworks as well
as tools for the development, but for the purpose of efficiency the developer should be selective. As it is an
open source framework so beginners can download the code and modify it according to their use cases.
Hyperledger Tools :
- Hyperledger Caliper
- Hyperledger Cello
- Hyperledger Composer
- Hyperledger Explorer
- Hyperledger Quilt
- Hyperledger Ursa, etc.
Hyperledger Frameworks :
- Hyperledger Fabric
- Hyperledger Iroha
- Hyperledger Sawtooth
- Hyperledger Besu
- Hyperledger Indy
- Hyperledger Burrow
You can take help from, here, here you can learn, contribute as well as participate in the works of the others.
Genache is a personal Etherium Blockchain, which provides some virtual ethers and also users, so that the developer can test their smart contract there. You can connect Genache with the Remix Etherium IDE for looking the working of the smart contract on the blockchain. Also the ethers which provided by genache are used in the transactions in the form of gas fees, and the spend ethers are refilled when you relaunch the genache.
Download Genache from given link – Genache Download.
- Blockchain in Brief
- How Does the Blockchain Work?
- Blockchain Forks
- What Are Cryptoasssets in Blockchain
- Features of Blockchain
- Blockchain vs Bitcoin
- Blockchain | Smart Contracts
- Introduction to Blockchain technology | Set 1
- Consensus Algorithms in Blockchain
- Difference between Blockchain and a Database
- Candidate block in Blockchain
- Introduction to Blockchain technology | Set 2
- Implementation of Blockchain in Java
- Blockchain Hash Function
- Benefits of Blockchain in Healthcare
- Important Blockchain terminologies
- Basics of the Blockchain and its various applications
- Blockchain to Secure IoT Data
- How does BlockChain support Crowdfunding ?
- Difference Between Bitcoin and Blockchain
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