Category: Block Chain Fundamentals

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Block Chain Fundamentals – Index

Block Chain Fundamentals Bitcoin is growing but the awareness of technology behind Bitcoin i.e. Block Chain is growing much faster rate. Many people are looking around the web to get more insight about Block Chain, some find it difficult to understand and for few, it’s a cup of tea. We at Techaroha Solutions Private Limited believe that Block Chain will be a success after we have more resources in Block Chain and More people with functional experience involve in creating use cases of the blockchain. This course explains about the Block Chain Fundamentals in series of articles followed by a video for every article. The initial focus is on General Understanding of Block Chain and then we will later move towards Block Chain Developers point to view. Please feel free to raise your queries Content of the course is Block Chain Fundamentals – Session 1 – What is Block Chain Block Chain Fundamentals – Session 2 – What is Block Chain in Details If you want BlockChain Developers in India or want to develop blockchain projects you can always contact us over here.    

Block Chain Fundamentals – Session 2 – Block Chain in Details

Block Chain Fundamentals Session 2 In the last session of BlockChain Fundamentals, we have discussed “What is Block Chain”, here in the session we will discuss Block Chain in Details. Let’s go through the definition of Block Chain “Block Chain is a growing distributed peer to peer ledger which keeps the transaction record in chronological order which is secure and immutable” Let’s understand the Block Chain Definition in Detail. First, we will try to understand the block and how transaction as stored in the Block Chain A Block consist of two Components A hash as a Pointer to the Previous Block Data and Transactions in Current  Block It will look like below images   What is Block Zero(0) or Genesis Block Whenever any blockchain project or cryptocurrency is launched it starts with the 1st Block of the Network. People often called it as genesis block or block 0. Use Case of Maintaining record with Block Chain Assume user X -> Rs. 200 Y -> Rs. 500. So we will store this information in Block Chain using secure military grade algorithms. After our empty genesis block, a new block will be added. Our Block Chain will network will look like below image.      “The information that X has Rs. 200 and Y have Rs. 500 is stored permanently in blockchain block B1 and nobody can be modified it.It Permanent” Understanding Transaction Storage. Now assume Y want’s to give Rs. 100 Now in general databases like MySQL or Oracle the, there would a field called as balance amount and it would be updated according to transaction taken. But this is not the case with Block Chain. Initial storage cannot be modified. Instead, a block will be created which will store the detail of the transaction. This new block will also have information about the new balances of User X and User Y. Below image will describe the transaction storage. This is how new block will be added for a single or set of transactions. “Now we see Block Chain has stored the information securely  and in chronological order” Since Block store the hash of the previous block, it creates a chain, a chain of blocks called as blockchain. Please view the video for more clear understanding Techaroha team is always ready to help you with Block Chain Application Development, Block Chain Developers in India and Block Chain Training in India. Please feel free to contact us for any queries.

Block Chain Fundamentals – Session 1 – What is Block Chain

Block Chain Fundamentals Block Chain is making a lot of buzz and this technology deserves much more. With the success of bitcoin, its proved that bitcoin will change the way things used to work. Many experts say that BlockChain will change the way Internet has done to the society.This article explains some very basic block Chain Fundamentals Let’s Understand “What is BlockChain” In Simple words, Block Chain is technology which stores the records in such a way that it cannot be modified but can be accessed by anyone. This feature “Cannot Be Modified” helps to identify the ownership of the record. What is Block Chain by Example In early days lots of frauds use to happen on Property deals same property being sold to User was a common fraud. This fraud can be completely eliminated using Block Chain. Suppose User A owns a house H1 and this transaction is recorded in the Block Chain . This records cannot be modified by any one. Any User who wants to buy house H1 can check the actual owner of the house. When User B purchase the house from User A , the ownership of home H1 will be set o User B in a separate transaction in Blockchain again which cannot be modified. With the help of block chain we can see the histroy of ownership of house H1. Above was one of the simplest example to explain blockchain and its usage. This concept of block chain can be applied to any assets like Cars, Crypto Currency , Motor cycles , Diamond etc. Please come back for session 2 of our block Fundamentals session. Techaroha team is always ready to help you with Block Chain Application Development, Block Chain Developers in India and Block Chain Training in India. Please feel free to contact us for any queries.