Transition to Web3 - Course 1 | Blockchain Basics

Blockchain Basics

Welcome to Blockchain Basics

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Your journey in this module

Hashing the data

Hashing the data - Demo

Hashing the data - cont

Block of data

Block of data - Demo

Chaining the blocks

Chaining the blocks - Demo

Single chains

Distributed chains

Which chain represents the truth?

Making the longest chain the “true” blockchain

A time-consuming puzzle

Multiple computers working on the puzzle

They solve puzzles faster

They can also cooperate to falsify

The risk?

Solving the puzzle: Mining

Solving the puzzle: Mining - Demo

Why does it work?

How difficult is it to find a nonce?

Your hash rate

Hash rate - Demo

Solving the puzzle: Mining - Cont

Many computers trying to solve the puzzle: Nodes

Many computers trying to solve the puzzle: Nodes - Demo

Recap

You did it!

Single chains

Remember: Our goal is to build a system where individuals can add data and collectively agree which data is the “truth” without a central authority deciding the truth.

We now know that data can be kept in a blockchain where blocks of data are connected to each other with hashing.

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