SEC S17-W1 || Steem blockchain sequencers.

"Hi everyone how are you doing i am good, today i am going to participate in another engagement challenge and i wiuld try to explain ot upto my best level SEC S17-W1 || Steem blockchain sequencers".

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What are the main building blocks of a blockchain and how does the process of sequencing transactions work in a blockchain network?

Th blockchain consist of the following components such as transaction, blocks, consensus, hash, validation, node and block chain etc.

First of all what is blockchain its just like a ledger which is used in nodes of computer networking. They are playing a singinficant role in crypocurrency as they maintained the secrcy of decentraized system.

Now i will discuss the components of building blocks in a blockchain.

The prime most unit of data that is responsible for the sequence of events in any blockchain and called the transaction. Now there may be different types of data in transactions it may smart contracts, digital transfer or requests to save data.

In next step comes the role of blocks hence the process of transaction takes places in blocks and these blocks contain data. Moreover each block is cryptographically joined with previous block and in this way a chain is built.

Then comes the role of consenus which is very important as its the alogrithm which is used to having the participatnst agreement on the valusation of a successful transaction and it follows the sequence in which they may added in the blockchain system. There are many consenus that are being used the most common are proof of stake and proof of work etc.

Hence the process of transaction is secured by the use of the cryptographic hashtag which can be used to maintain the stability of any transaction.

In this case a hash value is integrated on each block and it may joined with next block. In case if there is any alter in the data, the enitely dufferent hash value would be there and its try to temper the nodes.

Furthermore, there is significant role of the protocol of the network which ensures the communication and smooth flow of data among nodes. It enabled the smooth synchronized and thus ensured the integrity of the blockchain.

Describe how the Steem blockchain sequencer works, highlighting its specific characteristics and its role in consensus. Illustrate a graphical diagram to explain how it works.

The process of steem consensus alogrithm is working on the principle of delegated proof of stake. Hence it based on ordered arrangement of sequence transactions and conseus in the blockchain, its working principle consist on following steps.

As we are working on steemit platform and we may give in the process of transaction in the form of comments, posting or mau the transfer of the steem token in the steemit platform.

Then the validation of transactions are carried out by the witnesses these cusued the validation of of the transactions if they meet the requirements of validation.

Normally a specific number of witness are supported by dtakeholders 20, meanwhile a new block is produced abd its in round robin pattern.

Furthmore, this suggested block is confirmed henc the consensus is achieved when its more than two witnesses. This process avoid any suspicious activities only authentic transactions may allowed to proceed.

In the last step the block distribution is ensured inside the network as the block is confirmed.

Thus we can concluded that in maintaining the integrity of steem network is specifically achored by the steem chain sequencer which ensure the secure transactions.

What are the different consensus algorithms used in blockchains, and how do they influence the transaction sequencing process?

The proof-of-work based on unique system of solving complicated puzzles and this new blocks are created, its done in sequence as the miners solved the puzzles and then nodes verification takes place.

Advantage As the proof of work done by complex pyzzles sovling strategy and chain validity is maintain there is no danger of attackers.

Proof-of-stake it work on the basis of amoun of stake and also based on age of the coin. While pseudo-random manners are used to select the process of validation and main preference is based on stake within the network.
Advantage the proof of stake is efficient system as it is being used less energy but its good while maintaining the integrity and security of the system.

Delegated proof of stake in this process the specific number of stakes is delegateby stakeholders whic are used to produced the blocks, the transactions validation is proced on this basis. The more the number of votes there would be more delegations.

Advantage the delegated proof of stakes maontained the network scalablity as it turned out to create only few numbers of blocks also restored the intergrity of decentralization with the help of stake holder vote.

Proof of authority In this process the block validation is done by known entity while its sekection is done by network by own. The process of verification is done by verification of identification.

Delayed Proof of Work (dPoW) the consenus principle worked in a way that second layer is operated by first layer and in this way maintain the security of the system.

Explain the role of different types of nodes (like full nodes, light nodes, etc.) in the process of sequencing transactions within a blockchain.

If I describe One as the full nodes this is the masterpiece of blockchain because it is an entire copy of the blockchain and it gives us a complete copy of a blockchain and it actually gives us all the information of the transactions for the validation and security of a complete copy of the blockchain, so I think this is the main feature that it is maintaining the security of the entire blockchain is just because of its validation method.

So that's the reason that full nods are basically for the validation and for the relay transactions and maintaining its security and integrity. That's why the fraud is prevented.

Light nodes are in simple words actually not for the whole information they just provide the basic information.

So this is the reason that is named a light node because it does not give us the whole information it gives us the basic information we need or in simple words that is necessary to know the simple resources that are needed such as smartphones can be used but unfortunately, there is a chance of fraud because the security is not as well maintained as in the term of the full load because its verification is not done by entirely it's own.

Now one beyond limitation one thing that we call master nod that has certain exceptional features as well which I will talk about in detail because it is not just talking about the verification the validation the security and the relay system but also there are other features which are entirely important.

For example if I need on spot our immediate transaction it will provide immediate transaction as well and the most importantly with this decentralized governance and the security is well maintained.

Mining nodes this is something different and more complicated if I tell you in detail because this is for the addition of your blocks they are creating new blocks and then they are mainly adding it into the blockchain so I actually personally don't like this system because I think we should not mainly rely on the new edition.

And they also include certain hardware whichever is mainly important for the digital assets to create new blockchain and then add into the system.

So, this is all about different nodes and how they maintain the integrity of the system hence full nodes has more wider impact on decentralization system as compared to other nodes.

Discuss the importance of decentralization and governance in the context of the Steem blockchain. How does Steem's governance structure affect transaction sequencing and network security? Give a practical example that explains.

I will try to explain the role of decentralization and governance in maintaining its positive role in the Steem ecosystem.

Decentralization maintains the stability of the Steem network by ensuring that it's not controlled by a single group. Its worked on the principle of delegated proof of work in this case a certain number of witness are used which execute the process of transaction validation and add it to blockchain.

Hence the wider groups of witnesses are involved in it there is no risk of centealization nor single group may take power on it.

Then comes the role of governance, it urged the stakeholders to power of decision-making. The main feature of the steam governance is witnesses votes and certain proposals which may ultimately positive impact on platform growth.

Although it depends on the token holders interest for witness vote which caused the governance and network management.

Hence the system security and transaction sequence are influenced by the governance structure in different ways.

There is a significant role of witnesses in transaction sequence in the Steem blockchain. Moreover, they decided the sequence of blocks wthatshould be included and in which order they should be executed. The operating system of decentralization is wider edge hence it increased the transparency of the system.

As i mentioned the strong system of decentralized steem governance and consenus help to securec the system's network. As the diverse witness are involved in it it prevent fraud and other mishappening in system.

There is practical example of it, lets suppose there is implentation of upgraded protocol is intriduced in steem network just in order to enhsnce the security and overall working conditions.

While the stakeholder cobtribute their role in a sense they do vote to upgraded system abd witness emply the changes which are beneficial for this upgraded protocol. This is collevtive work of witness which ensure to maintain the integrity and stability of the system.

Hence the prsence of decentralization enables stakeholders for open discussion to the issues, they accept this upgraded and higher srcurity within the system of steem network.

This all about my today's post.

I would like to invite my friends @m-fdo, @mdkamran99 and @sualeha to take part in the challenge.