Blockchain

What is blockchain

A blockchain is a distributed ledger that can be used between parties that don't trust each other with data.

What is blockchain and what does it give you?

A shared and replicated ledger and it gives you various benefits depending on the situation and an irrefutable proof to transactions

Finality

Agreed source of truth

Consensus

Agreement that a transaction occurred

Hyper-ledger fabric

An implementation of blockchain technology that is a foundation for developing blockchain applications

Immutability

Append only data structure

Smart contract

Defines the conditions for a transaction to occur

Provenance

History of transactions

Private vs Public

Private is restricted to the scope of the network/users its being used for. Some user may not be able to read, write or access certain aspects of the blockchain. Public can be accessed by anyone

Hyper-ledger composer

a set of collaboration tools for building blockchain business networks that make it simple and fast for business owners and developers to create smart contracts and blockchain applications to solve business problems.

Transaction

an asset transfer onto or off the ledger

Hyper-ledger

an open source collaborative effort created to advance cross-industry blockchain technologies. Its is a global collaboration host by Linux.

Link list

contains transactions so you get a linear runtime

Merkle tree

hash of hash that makes a tree and make things tamper ~evident~

Ledger

record