Protocol as a Point of Knowledge of Blockchain, The Fundamental Modules of DLT
Feb 18, 2020 at 10:22 //
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Blockchain tech is a communication protocol, a tool based on decentralized system logic - a system where info isn’t kept on a single machine but rather on several devices linked together, known as nodes.
A blockchain is a chain of records that store a set of authenticated and correlated dealings by a Mark Time. Every block includes the hash (a non-invertible computer algorithmic function that maps a string of arbitrary length to a string of default length) which uniquely ascertains the record and enables linking to the preceding record by ascertaining the prior block.
The Fundamental Modules of DLT:
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Nodes: the participants in DLT and are substantially comprised of each participant's servers.
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Transaction – info that represents the standards being "swapped" and that need to be validated, accepted, and then stored.
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Block – epitomized by the combination of a set of transactions which are fused to be confirmed, permitted and then stored by DLT nodes.
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Ledger – the unrestricted block in which all transactions made in a systematic and chronological manner are "annotated" with the utmost transparency and unchallengeable. The Ledger involves records that are chained together through a code function and via the application of hashes.
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Hash – a (Non-Invertable) activity that enables you to map a variable-length text and/or numeral string to a single, distinctive string of certain span. The Hash securely detects every record. A hash shouldn’t be traced back to the script which produced it.
Hence, every block has got numerous dealings and has a Hash fixed in the header. The Hash registers all the info allied to the register, and a Hash with info about the previous record supports a user to generate the file and tie one file to another.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @coinidol.com By Coin Idol, @Khareem Sudlow