Session 3: Blockchain Architecture
Welcome to the third session on Block chain. I hope you have more interest now in understanding how to go about designing a block chain solution. now that you have created a wallet and have some crypto currency in it to play with !
In this session we will cover the following topics -
1. Centralized vs Decentralized system
In this session we will cover the following topics -
1. Centralized vs Decentralized system
2. Blockchain structure – building block
chains
3. Key concepts in blockchain architecture
4. Implementation – Frameworks
5. Block Chain – Technical Challenges
In this session we will cover basic elements of a block and how a block chain is created, and how it grows. We will focus on the concept of consensus and its importance for decentralized applications.
The architecture of Hyperledger Fabric as an enterprise blochchain product that has many different characteristics compared to Bit coin and Ethereum which are truely decentralized applications. We will cover requirements of business applications that do not suit very well with ideal blockchain implmentation.
Preread:
As preparation for this session, you can try to get some idea on following key words -
Decentralized system, Accounting Ledger, Distributed Ledger, Digital Asset
Provenance , Immutability and Consensus - meaning of these words in english
Try to get answers to the following questions -
Why do we need Censor resistent applications? What do they mean?
How digital keys make transactions secure ? Public and Private key properties (covered earlier ?)
Though not directly related to architecture you may watch this film -
This film talks of basics of blockchain and its applications in India and
This film talks about importance of money and how it is now used as a "System of Control" and how crypto currencies may change the definition of money and hence a threat to governments who control money and hence the economy.
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