Blockchain tutorial 23: Ledger

This is part 23 of the Blockchain tutorial explaining what a ledger is.

This tutorial explains the differences between:
- a centralised and a distributed ledger
- a public ledger (permissionless ledger) and a private ledger (permissioned ledger)

In this video series different topics will be explained which will help you to understand blockchain.

Bitcoin released as open source software in 2009 is a cryptocurrency invented by Satoshi Nakamoto (unidentified person or group of persons).
After the introduction of Bitcoin many Bitcoin alternatives were created. These alternate cryptocurrencies are called Altcoins (Litecoin, Dodgecoin etc).
Bitcoin's underlying technology is called Blockchain.
The Blockchain is a distributed decentralized incorruptible database (ledger) that records blocks of digital information. Each block contains a timestamp and a link to a previous block.

Soon people realises that there many other use cases where the Blockchain technology can be applied and not just as a cryptocurrency application.
New Blockchain platforms were created based on the Blockchain technology, one of which is called Ethereum.
Ethereum focuses on running programming code, called smart contracts, on any decentralized application.

Using the new Blockchain platforms, Blockchain technology can be used in supply chain management, healthcare, real estate, identity management, voting, internet of things, etcetera, just to name a few.
Today there is a growing interest in Blockchain not only in the financial sector but also in other sectors.

Explaining how Blockchain works is not easy and for many the Blockchain technology remains an elusive concept.
This video series tries to explain Blockchain to a large audience but from the bottom up.
Keywords often used in Blockchain conversation will be explained.
Each Blockchain video is short and to the point.

It is recommended to watch each video sequentially as I may refer to certain Blockchain topics explained earlier.

Check out all my other Blockchain tutorial videos

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The presentation used in this video tutorial can be found at:

#mobilefish #blockchain #bitcoin #cryptocurrency #ethereum

[ivanaldal]

That was actually very simiple and to the point! thanks!

[matthewclay]

Great job!! Very easy to understand. Thanks.

[SS-]

Hi Professor. I am really waiting for your videos about hyperledger fabric and everything about it (how to install and work in it). Please tell me when you will cover that topic.

[shurooqaldaja]

thank you, i want to know, if i have an smart home and i need to communicate with multiple devises over using smart phone application, what the type of ledger can i use to save the transactions without any one can see it (only the members of family in a house can see it, where each member has username & password to login)

[danielbalasa]

disambiguation: Bitcoin does NOT store balance information ... it stores only bitcoins transactions ... in order to find out the balance you need to process the entire ledger.

[DisehIbrahimGarba]

hi, i'm interested on a
distributed blockchain ledger for supply chain

[HPTube]

I'd like to understand what information can actually be extracted from a ledger. Do I have to imagine this like everyone's bank statements being public? Could someone make a list of all the transactions that one account was involved in? Could you identify the account owners?

[maninder-singhsaini]

How can we make ledger diagrams for these blockchains

[saminasmehndi]

1 I think a Ledger is like a register

2 in which each page is Like a block

3 multiple blocks make a blockchain

4 each block can contain 500 transactions

5 it means a ledger can contain multiple Blockchains, and a blockchain contains a group of blocks

6 and last but not the least, distributed ledger doesn't mean there are lots of ledger, it means there is only a single ledger but every node/miner has its There is only one ledger

7 I m learning Blockchain technology guide me please if some where I m wrong, your assistance would be much appreciated