07-blockchain

Blockchain

Block

• Is made up of
  • Header
    • height
    • previous hash
    • transactions hash
    • chain state hash
    • difficulty target
    • nonce
    • timestamp
    • version
  • Transaction

Chain

• Easy representation - linked list

• Genesis block

  • Starts the chain
  • Height is 0
  • Hardcoded, but valid

Mining

• Verifying and adding transctions

• Hard and time consuming

• Adjusting blocks

Miner

• Validate the chain

• Download the chain

• Proof of work

• Transaction pool

• Rewards