1. What is blockchain ?
The first technology we adopted is blockchain. There is a comprehensive course on this blockchain, a complete course where I will cover all aspects of blockchain. Let’s start and see what I have talked about so far. The reason for breaking everything down is to ensure that we don’t get tangled up or mix things together in the middle. So we will cover it in separate modules so that you get a clear understanding of what blockchain is, what cryptocurrency is, and what smart contracts are.
2. What are the applications of Blockchain?
The topic we are going to discuss is the applications of Blockchain. So, let’s start. If I talk about the applications of Blockchain, there are many, but I will talk about a few specific applications. For example, Product Tracking, Smart Contracts, Healthcare Systems, and International Wire Transfers. So let’s start with Product Tracking. Suppose you buy a specific item from a store, like coffee, and you bring it home. But do you know if the coffee in that packet is original? It might not be original; you have seen the brand’s name, the packet’s name, and many times in the news that fake products have been caught. And we always have some fear that the item we are buying is genuinely original or not. So what if I tell you that you can fully track your product, from where it was produced, from where it was supplied, and through which places it has passed? So let’s talk about Denmark, where a supermarket has implemented blockchain, and you can see a barcode, a QR code on each product. By using this, you can track where your product has come from and where it has gone.
3. what is block chain mining
Today we are going to read about blockchain mining. So let’s start with blockchain mining. Before we begin, if you haven’t watched my video on distributed P2P networks, I recommend watching it to better understand this video. However, it’s not mandatory; it will just help you grasp the concepts more easily. So let’s begin.
4. Byzanntine generals problem in blockchain
Today, we are going to discuss the Byzantine Generals Problem in the context of mining. So, today we will review the Byzantine Generals Problem. At this time, another condor came to attack this problem. And these four generals are in different positions. What does it mean to be in different positions? It could mean they are located at specific points. Some are in the north, some in the south, some in the west, and some in the east. In this way, they are all situated in different places. But what do they all need to do together? They need to attack. If they have to attack a specific location, they must make the decision themselves.
5. What is Consensus Protocol in blockchain
That we will accept the blockchain with the longer chain. We will accept the blockchain that has the longest chain in the network and discard the other one.
**Explaining with an Example**
Let’s assume there is a network A, E, F and another network B, C. A longer blockchain has been created in the A, E, F network, and a shorter blockchain in the B, C network. Now B and C will not add any new blocks to their blockchain. They will wait to see which network mines the next block first. If B and C mine a block first, A, E, F will have to accept their blockchain and discard their current blockchain.
6. What is hashing algorithm in blockchain ?
Today, we are going to explore Hashing Algorithms. In this lecture, we will learn what a Hashing Algorithm is and how it is used in Blockchain Technology. If you haven’t watched the previous videos on the Application of Blockchain and What is Blockchain, make sure to watch them first for a better understanding. We will discuss this in subsequent videos, but for now, understand that there are certain specific fields that are present in our Block. For example,