Introduction to Blockchain - Part 1

🚀 Explore crucial concepts and gain valuable insights to enhance your skills 💡👨‍💻🌟.

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Agenda
- 00:00:00 - Introduction to Blockchain
- 00:00:29 - What is blockchain?
- 00:02:08 How are nodes connected in the blockchain network?
- 00:02:38 - Characteristics of blockchain
- 00:03:35 - Structure of Blockchain
- 00:04:26 - The Big Picture
- 00:06:02 - Blockchain is a confluence of technologies
(Distributed Computing, Cryptography, Blockchain, and Game Theory)
- 00:07:30 Types of Blockchain
- 00:07:51 Pillars of Blockchain
- 00:08:00 What is Bitcoin?
Bitcoin uses SHA-256
- 00:09:38 How a Bitcoin block looks (seeing the transaction)
- 00:10:14 How to check the latest blocks in Bitcoin
- 00:10:30 How to see the genesis block of Bitcoin
- 00:10:45 First block of Bitcoin
- 00:19:45 What is Mining?
- 00:22:90 UTXO (Unspent Transaction Output)
- 00:32:20 Script & Solidity(The language of Bitcoin?)
- 00:36:00 Uncles Reward ( more in the next session)
- 00:41:00 How to create a Blockchain?
- 00:45:00 How to decide what blockchain technology to use?
- 00:48:30 Creating and deploying smart contract using Remix IDE
- 00:54:00 Why should we learn Blockchain

Topics covered in the session were
- Introduction to Blockchain
- Cryptocurrency
- Consensus
- Searching for the genesis block
- Deep dive into the Header of the block
- Proof of Work
- What is a nonce?
- Difficulty of a block
- Solving the Proof of work puzzle?
- mempool
- Checking for Miner reward
- Transaction fee
- Application of Blockchains ( Finance, Supply Chain, Health care, Bidding)
- Gas price / Gwei
- - Using Gas limit - Preventing infinite loops in smart contracts
- Ethereum mainnet
- How to create a smart contract using Remix IDE

What are smart contracts?
Smart contracts are digital contracts that self-execute and self-enforce. This means that when the conditions of a smart contract are met, the contract automatically executes the agreed-upon terms. Smart contracts are tamper-proof, transparent, and incredibly efficient– eliminating the need for middlemen, paperwork, and costly delays.

How can smart contracts prevent fraud?
Because smart contracts are digital and self-executing, they can help to prevent fraud. For example, let's say you're buying a car from someone you met online. You might worry that the person could take your money and never send you the car. But if you use a smart contract, the transaction would be recorded on the blockchain. This would create a permanent record of the transaction, making it impossible for the person to take your money without also sending you the car. 📚 Looking to enhance your skills with online courses? Check out Educative! Sign up using my referral link below and get free account credit worth 10% 💰.

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Please watch: "DNS Lookup: A Journey from Click to Site #internet #techexplained"
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