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Tuesday, May 22, 2018



What Are Addresses on Blockchains?
In the early days of Bitcoin, it was possible to send payments to an IP-address like (which is This was planned to be a convenient method to use Bitcoins without dealing with unhandy public keys and addresses. However, after the Bitcoin developers realized that this way of sending coins could be subject to serious man- in-the-middle-attacks, the option was disabled and did never come back.

The Public Key: Where the Blockchain Address Generation begins
After Pay to IP had been abandoned in Bitcoin, P2PKH became the new standard format for Bitcoin addresses.

It looks like this:

A standard P2PKH address has something like 34 signs and starts with a 1.
P2PKH is the abbreviation of “Pay To Public Key Hash.” This means that you pay to a hash of a public key.

Examples of cryptographic hash functions
  • MD 5: It produces a 128-bit hash. Collision resistance was broken after ~2^21 hashes.
  • SHA 1: Produces a 160-bit hash. Collision resistance broke after ~2^61 hashes.
  • SHA 256: Produces a 256-bit hash. This is currently being used by Bitcoin.
  • Keccak-256: Produces a 256-bit hash and is currently used by Ethereum.

So what is hashing?
In simple terms, hashing means taking an input string of any length and giving out an output of a fixed length.
In the context of cryptocurrencies like Bitcoin, the transactions are taken as an input and run through a hashing algorithm (Bitcoin uses SHA-256) which gives an output of a fixed length.
As you can see, in the case of SHA-256, no matter how big or small your input is, the output will always have a fixed 256-bits length.
This becomes critical when you are dealing with a huge amount of data and transactions. So basically, instead of remembering the input data which could be huge, you can just remember the hash and keep track.

Various properties of hashing functions and how they get implemented in the blockchain.
A cryptographic hash function is a special class of hash functions which has various properties making it ideal for cryptography. 

There are certain properties that a cryptographic hash function needs to have in order to be considered secure.
1.      Deterministic - This means that no matter how many times you parse through a particular input through a hash function you will always get the same result. 

2.      Quick Computation - The hash function should be capable of returning the hash of an input quickly. If the process isn’t fast enough then the system, simply won’t be efficient.

3.      Pre-Image Resistance - What pre-image resistance states is that given H(A) it is infeasible to determine A, where A is the input and H(A) is the output hash. 
Suppose you are rolling a dice and the output is the hash of the number that comes up from the dice. How will you be able to determine what the original number was? It’s simple all that you have to do is to find out the hashes of all numbers from 1-6 and compare. Since hash functions are deterministic, the hash of a particular input will always be the same, so you can simply compare the hashes and find out the original input.
But this only works when the given amount of data is very less. What happens when you have a huge amount of data? Suppose you are dealing with a 128-bit hash. The only method that you have to find the original input is by using the “brute-force method”. Brute-force method basically means that you have to pick up a random input, hash it and then compare the output with the target hash and repeat until you find a match.
So, while it is possible to break pre-image resistance via brute force method, it takes so long that it doesn’t matter.

4.      Small Changes in The Input Changes the Hash- Even if you make a small change in your input, the changes that will be reflected in the hash will be huge.

5.      Collision Resistant - Given two different inputs A and B where H(A) and H(B) are their respective hashes, it is infeasible for H(A) to be equal to H(B)

Saturday, May 19, 2018

BLOCKCHAIN INTERVIEW QUESTIONS PART 8 - How blockchain is different from traditional architecture

BLOCKCHAIN INTERVIEW QUESTIONS PART 8 - How blockchain is different from traditional architecture

Background - The Rising Interest in Distributed Ledger Technologies

Mainframe computers are largely centralized. They typically house all computing power, memory, data storage, and code. Access to mainframes is mainly by 'dumb terminals', which only take inputs and outputs, and do not store or process data.

With the advent of personal computers and private networks, similar computational capabilities were now housed both on the clients, as well as the servers. This, in part, gave rise to the 'client-server' architecture. Massive data sets, which are housed on mainframes, could move onto a distributed architecture. 

Over time, Internet and cloud computing architectures enabled global access from a variety of computing devices. Even though this 'cloud architecture' is decentralized in terms of hardware, it has given rise to application-level centralization (e.g. Facebook, Twitter, Google, etc.).

Currently, we are witnessing the transition from centralized computing, storage, and processing to decentralized architectures and systems.

Distributed ledger technology is one of the key innovations making this shift possible.

Peer-to-Peer Network Architecture

Peer-to-peer (P2P) networks consist of computer systems which are directly connected to each other via the Internet, without a central server.

P2P networks are generally considered to be more secure than centralized networks, as they do not have a single point of attack, as in the case of a server-based network, where the security of the entire network can be compromised if the central server is successfully attacked.

Permissionless P2P systems do not require a set amount of peers to be online and are generally slower.

Permissioned P2P networks have to guarantee uptime and require a high level of quality of service on the communication links.

BLOCKCHAIN INTERVIEW QUESTIONS PART 7 - Do you even need blockchain

BLOCKCHAIN INTERVIEW QUESTIONS PART 7 - Do you even need blockchain

Blockchain is not suitable for all applications. In-fact blockchain is useful for only certain business processes. Please see a flowchart below



The blockchain is so much more than an isolated technology using advanced forms of cryptography and a crowdsourced ledger system. And it’s not only about efficiency or effectiveness… doing things 20 times faster or saving money - it enables people to organize themselves in new and different ways. 

We can replace companies like Uber that are structured to put all the risk in the hand of the drivers while huge profits go to the top with companies where the drivers own the blockchain and own the company, hiring managers to maintain the system. Every mile is driven into the blockchain, rewarding the driver who puts in the work. 

We can create bulletproof voting systems which can result in direct democracy unlike we have ever seen before in society. 

We can replace some companies with many people with companies with few people that are run on pre-determined rules – called DAOs and DACs. With no employees, there’s no theft, graft, profiteering, fraud, bribery et al. 

The blockchain can pave the way to a future where corruption is crushed and a social consciousness is nurtured. 

With the blockchain, we can build organizations with measurable social responsibility and a memory to keep track of their deeds! 

The blockchain can store all that and no one can erase it.

BLOCKCHAIN INTERVIEW QUESTIONS PART 5 - What are the types of Blockchain

BLOCKCHAIN INTERVIEW QUESTIONS PART 5 - What are the types of Blockchain

Types of Blockchain

Blockchain is a type of technology not a single network. It can be implemented in many different ways.
1.      Public Blockchain – Open to everyone to view and access
2.      Private Blockchain – Access to a select group of authorized users.
3.      Hybrid Blockchain – combination of both private and public Blockchain

A permissionless blockchain is also known as a public blockchain, because anyone can join the network.
Bitcoin blockchain, is a permissionless blockchain.

A permissioned blockchain, or private blockchain, requires pre-verification of the participating parties within the network, and these parties are usually known to each other.

The supply chain management is an ideal use case for permissioned blockchains. 

BLOCKCHAIN INTERVIEW QUESTIONS PART 4 - What's a good blockchain use case

BLOCKCHAIN INTERVIEW QUESTIONS PART 4 - What's a good blockchain use case

What's a good blockchain use case?

·         In finance, blockchain networks allow securities trades to be settled in minutes rather than days.
·         In supply chains, blockchain networks allow the flow of goods and payments to be tracked and logged in real time.

To determine whether your use case is a good fit for blockchain, ask yourself these questions:

1.      Is a business network involved?
2.      Is consensus used to validate transactions?
3.      Is an audit trail, or provenance, required?
4.      Must the record of transactions be immutable, or tamper proof?
5.      Should dispute resolution be final?
If you answered yes to the first question and to at least one other, then your use case would benefit from blockchain technology.

A network always needs to be involved for blockchain to be the right solution

BLOCKCHAIN INTERVIEW QUESTIONS PART 3 - What are the business benefits of blockchain

BLOCKCHAIN INTERVIEW QUESTIONS PART 3 - What are the business benefits of blockchain

What are the business benefits of blockchain?

In legacy business networks, all participants maintain their own ledgers with duplication and discrepancies that result in disputes.

However, by using blockchain-based shared ledgers, where transactions cannot be altered once validated by consensus and written to the ledger, businesses can save time and costs while reducing risks.

Immutability mechanisms of blockchain technologies lead to lowered cost of audit and regulatory compliance with improved transparency.

No more intermediaries which can save both time and money. 

Five of the biggest advantages of Blockchain technology. 

One of the prime reasons blockchain is intriguing to businesses is that this technology is almost always open source. That means other users or developers have the opportunity to modify it as they see fit. But what's most important about it being open source is that it makes altering logged data within a blockchain incredibly difficult. After all, if there are countless eyes on the network, someone is probably going to see that logged data has been altered. This makes blockchain a particularly secure technology.

Reduced transaction costs
As noted, blockchain allows peer-to-peer and business-to-business transactions to be completed without the need for a third party, which is often a bank. Since there's no middleman involvement tied to blockchain transactions, it means they can actually reduce costs to the user or businesses over time.

Faster transaction settlements
When it comes to traditional banks, it's not uncommon for transactions to take days to completely settle. This is due to protocols in bank transferring software, as well as the fact that financial institutions are only open during normal business hours, five days a week. You also have financial institutions located in various time zones around the world, which can delay processing times. Comparatively, blockchain technology is working 24 hours a day, seven days a week, meaning blockchain-based transactions process considerably more quickly.

Another central reason blockchain is so exciting is its lack of a central data hub. Instead of running a massive data center and verifying transactions through that hub, blockchain actually allows individual transactions to have their own proof of validity and the authorization to enforce those constraints. With information on a particular blockchain piecemealed throughout the world on individual servers, it ensures that if this information fell into unwanted hands (e.g., a cyber-criminal), only a small amount of data, and not the entire network, would be compromised.

User-controlled networks
Lastly, cryptocurrency investors are tending to be really encouraged by the control aspect of blockchain. Rather than having a third party run the show, users and developers are the ones who get to call the shots. For instance, an inability to reach an 80% consensus on an upgrade tied to bitcoin's blockchain is what necessitated a fork into two separate currencies (bitcoin and bitcoin cash)

BLOCKCHAIN INTERVIEW QUESTIONS PART 2 - How does a blockchain network work

BLOCKCHAIN INTERVIEW QUESTIONS PART 2 - How does a blockchain network work

How does a blockchain network work?

Instead of relying on a third party, such as a financial institution, to mediate transactions, member nodes in a blockchain network use a consensus protocol to agree on ledger content, and cryptographic hashes and digital signatures to ensure the integrity of transactions.

Consensus ensures that the shared ledgers are exact copies, and lowers the risk of fraudulent transactions, because tampering would have to occur across many places at exactly the same time.

Cryptographic hashes, such as the SHA256 computational algorithm, ensure that any alteration to transaction input — even the most minimal change — results in a different hash value being computed, which indicates potentially compromised transaction input.

Digital signatures ensure that transactions originated from senders (signed with private keys) and not imposters.

The decentralized peer-to-peer blockchain network prevents any single participant or group of participants from controlling the underlying infrastructure or undermining the entire system.

Participants in the network are all equal, adhering to the same protocols. They can be individuals, state actors, organizations, or a combination of all these types of participants.

How blocks are added to the chain?

1.      A cryptographic puzzle must be solved thus creating the block.
2.      The computer that solves the puzzle shares the solution to all the other computers on the network. That is called proof-of-work.
3.      The network verifies the proof-of-work.
4.      If correct the block will be added to the chain  

BLOCKCHAIN INTERVIEW QUESTIONS PART 1 - what problem does blockchain solve

BLOCKCHAIN INTERVIEW QUESTIONS PART 1 - what problem does blockchain solve

What is a distributed ledger?

·         distributed ledger is a type of database that is shared, replicated, and synchronized among the members of a decentralized network. 
·         The distributed ledger records the transactions, such as the exchange of assets or data, among the participants in the network.
·         Participants in the network govern and agree by consensus on the updates to the records in the ledger. 
·         No central authority or third-party mediator, such as a financial institution or clearinghouse, is involved.
·         Every record in the distributed ledger has a timestamp and unique cryptographic signature, thus making the ledger an auditable, immutable history of all transactions in the network.

The role of business ledgers

Business networks typically come together at marketplaces where the participants, such as
·         producers,
·         consumers,
·         suppliers,
·         partners,
·         market makers/enablers, and
·         other stakeholders
own, control, and exercise their rights, privileges, and entitlements on objects of value known as assets.
Tangible and physical assets
·         Car
·         Home
 Intangible and virtual assets
·         Deeds
·         Patents
·         Stock certificates
Asset ownership and transfers are the transactions that create value in a business network.

Problems with current business ledgers

Current business ledgers in use today are deficient in many ways. They are
·         inefficient,
·         costly,
·         subject to misuse and tampering.
·         Lack of transparency, as well as
·         susceptibility to corruption and fraud
These risks and uncertainties contribute to missed business opportunities.

What is blockchain, exactly?

A blockchain is a
·         tamper-evident,
·         shared digital ledger
that records transactions in a public or private peer-to-peer network.
Distributed to all member nodes in the network, the ledger permanently records, in a sequential chain of cryptographic hash-linked blocks,
All the confirmed and validated transaction blocks are linked and chained from the beginning of the chain to the most current block, hence the name blockchain.

Blockchain is the digital and decentralized ledger technology that records all transactions without the need for a financial intermediary like a bank.

Tuesday, May 8, 2018

Best blockchain trainer in bangalore - marathahalli blockchain trainer - blockchain trainer in whitefield bangalore - blockchain trainer in Varthur

Best blockchain trainer in bangalore - marathahalli blockchain trainer - blockchain trainer in whitefield bangalore - blockchain trainer in Varthur

Name - Ashish Prasad

Phone - 09738925800

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Blockchain Training in Bangalore - Marathahalli blockchain training - Whitefield blockchain training

Blockchain Training in Bangalore - Marathahalli blockchain training - Whitefield blockchain training

Sunday, May 6, 2018

A Beginners Guide to Blockchain

A Beginners Guide to Blockchain

I have put together a short and simple Beginner’s Guide to Blockchain to help you save hours of research and work.

Click A Beginner’s Guide to Blockchain to download the E-book.


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