Azhar uddin

Understanding the Blockchain

Discussion created by Azhar uddin on May 30, 2018
Latest reply on Jun 4, 2018 by Sandeep Raut

What is a Blockchain?
A Blockchain is a distributed database that handles a rigorous list of records, (termed as blocks), safe from tampering.

Blockchain public ledgers record transactions between two parties in a verifiable and permanent manner. Blockchain’s design is secure with distributed computing system obeying fault tolerance. Blockchain records, documents, events, identity management, management activities, medical records, and transaction processing. Join Blockchain Training and become proficient in mastering Blockchain Technology.

The origination of the blockchain made it the primary digital currency far away from the central server. This design later turned as an inspiration for other applications.

Architecture of Blockchain

Important design aspects in the architecture of a Blockchain are –

  • Blockchain platform

  • list itemNodes

  • list itemNetwork Platform Stack

  • Transactions

Blockchain Platform:
The Blockchain runs on distributed servers. The Blockchain data is stored either in a flat file or in a RDB based on the choice of the user.

The Blockchain software operation is so massive that it is impossible to hack into the application. The nodes within the network use peer-to-peer IP network to verify transactions. When numerous nodes have the same blocks within their databases, they are regarded to be in consensus.

Nodes in the Blockchain:
Blockchain network is a peer to peer working on the IP protocol of the internet with a specific server node.

Each node forms a replicated copy of the database along with the information of the owner. The consensus mechanism specifies the blockchain updates. Each node plays a specific role based on its business intention. Every node joins the network accordingly.

Network Protocol Stack:
Once nodes get booted up, they conduct a peer discovery using a port over TCP. The Blockchain Network Architecture maintains the standard semantics to enable multiple types of blockchains co-exist with management abstraction.