Blockchain Training in Chennai
A block Chain is list of records that grows and are linked using Cryptography. Each block has Cryptographic hash of the previous block, a timestamp and transaction data.It is a distributor ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. A blockchain is a decentralized, distributed and public digital ledger that is used to record transactions across many computers so that any involved record cannot be altered retroactively, without the alteration of all subsequent blocks. This allows the participants to verify and audit transactions independently and relatively inexpensively.
First, the Bitcoin network that keeps track of our transactions and balances, and second, the currency that we use as the unit of value when we transact. We'll cover both here.
Bitcoin's payment network (also called the bitcoin blockchain) makes it possible for us to transact with one another. The network uses distributed consensus to verify and confirm transactions, and consensus is reached via a large global network of high-performance computers i.e miners,which runs the bitcoin software. If someone sends a transaction it's broad casted instantly to the network and verified by the miners, those who constantly works to confirm individual transactions and include them in the next block of transactions in the chain. When we verify a new block, all the transactions within it are permanently recorded on the blockchain. Rewards are paid out in bitcoin to miners who confirm transactions and verify the next block as a way to incentivize productivity on the network. Those who participates in the mining process will have an identical up-to-date copy of the blockchain or public ledger, which is comprised of record of all the transactions in bitcoin history. The copy of the ledger is updated every time when a new block is found.
The unit of value that we send and receive on the Bitcoin network is also referred to as bitcoin, or bitcoins. Bitcoin is completely digital, that means we can't physically hold it in our hand. It's also portable, divisible, fungible, and irreversible.
Public Block Chain
Private Block Chain
Consortium Block Chain
Hybrid Block Chain
The analysis of public blockchains has become increasingly important with the popularity of bitcoin, Ethereum, Litecoin and other cryptocurrencies.
Ethereum is an innovative block-chain based virtual machine and cloud 2.0 platform.The developers are working on a system allowing the exchange of complex contracts.More sophisticated interactions between the users will allow the conclusion of digital contracts according to Distributed ledger model.It amounts to an extension of crypto-economy, beyond virtual monetory exchanges towards the establishments of the nexus of digital contracts pertaining to all areas of life.
The block chain finds an unexpected application, a Grid-coin with peer-to-peer internet based crypto-currency that aims to provide real benefits to humanity by compensating miners for participating in BOINC projects. It is an Open-source middleware system for volunteer and Grid computing. It is the first Crypto-currency that successfully converts the wasted energy into useful scientific research and provides greater efficiency using normal consumer grade hardware.
The real potential of the crypto-currencies may be the streamlining of the transfer of value.The Ripple labs with Ripple technology is a major player in the payment revolution.It builds a global payment protocol.Ripple enables peer-to-peer server architecture to facilitate the movement of value among financial institutions. This server enables the financial companies to make payments directly. It consists of real-time gross settlement system, securing instant and free payments, currency exchange and remittance,regardless of size.
Blockchain Course Content
Introduction to Blockchain
What is Blockchain
Types of network
Need for Blockchain Components of Blockchain
Where can Blockchain be used
Example on Blockchain
How Blockchain Works
Structure of Blockchain
Lifecycle of Blockchain
Proof of Work
Proof of Stake
Actors of Blockchain
Membership service provider
Building A Small Blockchain Application
Introduction to Hyperledger
What is Hyperledger
Where can Hyperledger be used
Features of Hyperledger
Fabric Installation of prerequisite
The Fabric Model
Features of Fabric Model
Privacy through channels
Security and Membership services
Components of Fabric Model
Building your network
How to write a Chaincode
Architecture of Hyperledger Fabric
Bootstrapping the Network
Task 1 - Generate the crypto material for the various participants
Task 2 - Generate the genesis block for the Orderer node and start ordering service (solo node)
Task 3 - Generated the configuration transaction block to create a new channel
Task 4 - Sign the configuration block and create the new channel
Task 5 - Make peers of all the organizations join the channel that we created in Task 4
Introduction To Hyperledger Explorer
Block Details Peer List
Installation of Hyperledger Explorer
Starting the Explorer App
Components of Hyperledger Composer
Benefits of Hyperledger Composer
Hyperledger Composer Solution
Hyperledger Composer Playground
Playground Overview Lab Work
What is Blockchain Technology?
The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.
What do you mean by blocks in the Blockchain technology?
A block in the Blockcahin is nothing but just a list of records. When these lists are joined with each other, they are known as Blockchain.
Is it possible to modify the data once it is written in a block?
No, it is not possible to do so. In case any customization is required, the organization simply has to remove the information from all other blocks too. It is because of no other reason than this, data must be given the extreme care of while using this method.
Is Blockchain an incorruptible ledger?
Blockchain ledger cannot be corrupted as per the developer’s claim.
How does Bitcoin use Blockchain?
A transaction is a transfer of value between Bitcoin wallets that gets included in the blockchain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet.
What are security concerns related to IoT?
Data security and privacy are major concerns related to IoT. These devices are vulnerable to hacking and cloud endpoints could be used by hackers to attack servers.