blockchain basics [read-only] - vermont · 4/5/2018 · blockchain basics agency of digital...
TRANSCRIPT
![Page 1: Blockchain Basics [Read-Only] - Vermont · 4/5/2018 · Blockchain Basics Agency of Digital Services. Blockchain is a decentralized "append-only" peer-to-peer public ledger, where](https://reader033.vdocuments.mx/reader033/viewer/2022042308/5ed486fb6549871b3b542662/html5/thumbnails/1.jpg)
Blockchain Basics
Agency of Digital Services
![Page 2: Blockchain Basics [Read-Only] - Vermont · 4/5/2018 · Blockchain Basics Agency of Digital Services. Blockchain is a decentralized "append-only" peer-to-peer public ledger, where](https://reader033.vdocuments.mx/reader033/viewer/2022042308/5ed486fb6549871b3b542662/html5/thumbnails/2.jpg)
Blockchain is a decentralized "append-only" peer-to-peer public ledger, where transactions
(Blocks) are linked and secured using cryptography. Participants all receive complete copies of
the ledger and reconcile the ledger through group polling.
![Page 3: Blockchain Basics [Read-Only] - Vermont · 4/5/2018 · Blockchain Basics Agency of Digital Services. Blockchain is a decentralized "append-only" peer-to-peer public ledger, where](https://reader033.vdocuments.mx/reader033/viewer/2022042308/5ed486fb6549871b3b542662/html5/thumbnails/3.jpg)
![Page 4: Blockchain Basics [Read-Only] - Vermont · 4/5/2018 · Blockchain Basics Agency of Digital Services. Blockchain is a decentralized "append-only" peer-to-peer public ledger, where](https://reader033.vdocuments.mx/reader033/viewer/2022042308/5ed486fb6549871b3b542662/html5/thumbnails/4.jpg)
Details to Know
• Transactions are broadcast to all participants
• "Miners" are participants who provide additional computational resources to settle, audit and reconcile transactions.
• With Bitcoin – Miners are compensated for their resource allocation.
• Without Bitcoin or another asset to reward miners – appointed validator officials/systems are required.
• Blockchain is ill-suited for storing large amounts of data; inefficient data insert/retrieval compared to Relational Databases
![Page 5: Blockchain Basics [Read-Only] - Vermont · 4/5/2018 · Blockchain Basics Agency of Digital Services. Blockchain is a decentralized "append-only" peer-to-peer public ledger, where](https://reader033.vdocuments.mx/reader033/viewer/2022042308/5ed486fb6549871b3b542662/html5/thumbnails/5.jpg)
Where is Blockchain Useful
![Page 6: Blockchain Basics [Read-Only] - Vermont · 4/5/2018 · Blockchain Basics Agency of Digital Services. Blockchain is a decentralized "append-only" peer-to-peer public ledger, where](https://reader033.vdocuments.mx/reader033/viewer/2022042308/5ed486fb6549871b3b542662/html5/thumbnails/6.jpg)