How Does Blockchain Work?
NIST 2018 describes blockchains as tamper-evident and tamper-resistant digital ledgers, distributed and mostly without a central authority.
Video coming soon. The lesson video will appear here once it is published on YouTube.
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1.What is a blockchain, in the video's words?
NIST 2018 describes blockchains as tamper-evident and tamper-resistant digital ledgers, distributed and mostly without a central authority.
2.What is a hash?
SHA-256 makes a code of 256 bits; even one changed bit gives a completely different code (NIST).
3.Leo pays Marge 4 from 10 each. What are the balances and the total?
The total is still 20; nothing was created, the notebook only records a move.
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Sources (3)
- Yaga, D., Mell, P., Roby, N., Scarfone, K.: Blockchain Technology Overview, NIST Interagency Report 8202, October 2018
- Nakamoto, S.: Bitcoin: A Peer-to-Peer Electronic Cash System (Whitepaper, PDF)
- Eigene Rechnung: Hefteintrag Leo zahlt Marge 4, SHA-256
Education only. Not financial advice.