Mini Crypto Program Part 3 || "Understanding of Blockchain", by @rnadewi
Assalamualaikum Warahmatullahi Wabarakatuh
Hi friends, here I will join the @Steem.Education community, I will try to enliven the Mini Crypto Program Part 3 created by @liasteem sister.
In this Mini Crypto Program Part 3 we discuss Understanding of Blockchain, so I will try to solve it.
Understanding of Blockchain
The task given to the Mini Crypto Program Part 3, we are given several questions that require us to answer all questions correctly and correctly, here are some questions that we will answer together
1.What do you know about blockchain?
2.Describe one type of blockchain!
3.Explain the advantages and disadvantages of the type of blockchain you choose!
4.Visit Blockchain Demo, and what did you learn from that page? (screenshot required)
5.Explain the advantages and disadvantages of using blockchain technology!
6.Conclusion!
So now Riana will try to discuss one by one the questions that have been given by Brother @liasteem correctly, let's discuss the first question
1. What do you know about blockchain?
Blockchain has the meaning of 2 words, namely Block which means group and chain which means chain. So Blockchain is an arrangement of chains that are related to each other, where each Block is connected to the next block.
Blockchain is a block chain that works by distributing each other together. Blockchain has the same function and purpose, broadly speaking Blockchain itself is a ledger of all data recording. For example, the Blockchain contained in Bitcoin is a Blockchain or a ledger that contains all the details of transactions in Bitcoin, whether it is complete details regarding the number of coins, the transaction process to the process of running the system.
Blockchain itself is a very recent technological breakthrough that has been successfully developed to create a digital asset storage system with every advantage. In Blockchain there is such a thing as Hash, Hash is a data that has the task of identifying or verifying every incoming block, each of which has a unique code that is different, none of which is the same. So Hash is like a letter where each block will carry the previous information and the next block will carry the next information that is how the system works in blockchain technology to secure the blockchain chain that continues to run.
2. Describe one type of blockchain!
Blockchain technology itself has several types of blockchain, including:
- Public Blockchain
- Private Blockchain
- Hybrid Blockchain
- Consortium Blockchain
Among the 4 types of blockchain above, we will try to review only one type, here Riana chooses the Public Blockchain for Riana to discuss, the following is the review
Public Blockchain
Public Blockchain is a type of Blockchain technology that is designed to adhere to a decentralized system, which means that decentralization itself means that there are no parties or a constitution that monitors or controls the course of transactions that are taking place in the system.
Public Blockchain also adheres to an open source system, meaning that in this type of Public Blockchain they allow anyone to join in on the fun, be it a miner, a user or even a developer on the blockchain network. The Public Blockchain prioritizes transparency of all transactions that occur, so anyone can see all the details of transactions that are currently running on the network.
On the Public Blockchain, they prioritize transparency of all transaction activities that occur, but they also maintain the privacy of your personal data as a person who participates in the network, even though you make transactions but only your account name appears while your complete biodata is kept confidential and very safe.
3. Explain the advantages and disadvantages of the type of blockchain you choose!
So in the previous question we have chosen Blockchain Technology with the Public Blockchain Type, in this question we will review the advantages and disadvantages of the Public Blockchain.
Advantages Of Public Blockchain
In my opinion, there are several advantages that exist in this Public Blockchain Type, starting from the very good security aspect, because each block maintains or has work to verify. Then in terms of transaction speed it also has very good advantages, and in terms of its transparency it is an advantage that most people see, or you could say it is a plus because it is transparent about all types of transaction information that occurs.
Disadvantages Of Public Blockchain
In my opinion, there are two very fatal flaws, where on the public blockchain it maintains the confidentiality of information related to the user's personal data, I think this is actually a drawback because criminals will be able to move freely to carry out prohibited transactions in this Public Blockchain, due to complete personal data. they are very secretive. Then the next drawback is in terms of the use of electrical power, in my opinion this type of Public Blockchain is very wasteful, because they require computing with very sophisticated hardware and it requires a lot of hardware that works to break every incoming block, then this will cause not environmentally friendly in terms of wasteful electricity and also this causes global warming to increase.
4. Visit Blockchain Demo, and what did you learn from that page? (screenshot required)
In this fourth task we are required to explore the Blockchain Demo, so you can click the following link to enter the Blockchain Demo, a screen will appear as shown below
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Hash
Next we will enter the Hash section, where a 256 hash SHA display will appear, with empty data and then generate a unique hash code e3b0c44298fc1c149afbf4c8996fb92427ae41e4649b934ca495991b7852b855, as shown below
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Next I enter "rnadewi" in the data, it will generate a unique hash code that is different from the previous code, then the hash code that appears from the data "rnadewi" c059e65b65625edff9f4e6069eb78be46fb38e2ee6b6dd26204bfab1f61de206, as shown below
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Block
Furthermore, in the block section, you can see that the entire box is surrounded by green color symbolizing that it is valid and the data that appears on the initial block display are
Block : 1
Nonce : 72608
Hash : 0000f727854b50bb95c054b39c1fe5c92e5ebcfa4bcb5dc279f56aa96a365e5a, the hash has a number prefix of 0. 4 numbers, like the picture below
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Then I tried to enter "rnadewi" in the data, then the entire box was surrounded by red color indicating it was invalid, and in
Block : 1
Nonce : 72608
Hash : 4b79e57c3c8c821e6f5f096237e104012240ef881cd6ba189c643c732ca991f0, the hash does not start with the number 0 below 4 pieces, as shown below
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So in order for the word "rnadewi" to be valid, you just need to click on miner, it will be automatically valid, and the entire box will be green and produce
Block : 1
Nonce : 19304
Hash : 0000662d57fdc1c899ce2ecf34c335f3aa0027c70e33469151089c088d850402, as shown below
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Blockchain
Now we enter the Blockchain section, you can see in the row of images below, where displaying a green color means that it is valid with empty data.
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It can be seen from the picture above that at the prev prev in block 1 the whole number is 0, and the hash has 0 as many as 4 numbers, as well as in block 2 it will be followed by the number 0 as much as 4 numbers to be valid
Block : 1
Nonce : 11316
Prev : 0000000000000000000000000000000000000000000000000000000000000000
Hash : 000015783b764259d382017d91a36d206d0600e2cbb3567748f46a33fe9297cf
Block : 2
Nonce : 35230
Prev : 000015783b764259d382017d91a36d206d0600e2cbb3567748f46a33fe9297cf
Hash : 000012fa9b916eb9078f8d98a7864e697ae83ed54f5146bd84452cdafd043c19
.png)
In block 3 and 4 it is also followed by the prefix of 4 numbers 0 in front of it so that each block is bound to each other so that it becomes valid, you can see in the picture above
Block : 3
Nonce : 12937
Prev : 000012fa9b916eb9078f8d98a7864e697ae83ed54f5146bd84452cdafd043c19
Hash : 0000b9015ce2a08b61216ba5a0778545bf4ddd7ceb7bbd85dd8062b29a9140bf
Block : 4
Nonce : 35990
Prev : 0000b9015ce2a08b61216ba5a0778545bf4ddd7ceb7bbd85dd8062b29a9140bf
Hash : 0000ae8bbc96cf89c68be6e10a865cc47c6c48a9ebec3c6cad729646cefaef83
.png)
Likewise in block 5 he will continue to follow each previous block.
Block : 5
Nonce : 56265
Prev : 0000ae8bbc96cf89c68be6e10a865cc47c6c48a9ebec3c6cad729646cefaef83
Hash : 0000e4b9052fd8aae92a8afda42e2ea0f17972ea67cead67352e74dd6f7d217c
So I'll try to write the word "rnadewi" in the data, and the results all turn red and indicate it's invalid, here are some pictures below
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We can see that what causes the data to be invalid is because the hash does not start with 4 0s in front of it, here are the details
Block : 1
Nonce : 11316
Prev : 0000000000000000000000000000000000000000000000000000000000000000
Hash : 831896f73a35c07cde605f2d4533a07abfa36b16c9f64b1dc969e66c891ac4b9
Block : 2
Nonce : 35230
Prev : 831896f73a35c07cde605f2d4533a07abfa36b16c9f64b1dc969e66c891ac4b9
Hash : d0920d1e049d91990017979be31f8dc964dd6620799ee63d493d10ed737c5ca3
Block : 3
Nonce : 12937
Prev : d0920d1e049d91990017979be31f8dc964dd6620799ee63d493d10ed737c5ca3
Hash : 3a246cebae659fc7b856284f53f9b704854be5546c5469705af1af9fcc17c13f
Block : 4
Nonce : 35990
Prev : 3a246cebae659fc7b856284f53f9b704854be5546c5469705af1af9fcc17c13f
Hash : c74265e5e7fefb0fe09346b85337050e801d36c4e5b6925431ad5633068c0d82
Block : 5
Nonce : 56265
Prev : c74265e5e7fefb0fe09346b85337050e801d36c4e5b6925431ad5633068c0d82
Hash : 28bed8e886b5d12e7c357c2315891383cdda5d3aa73bd7adb3a0c80634871fac
so to make it all valid you just need to press the "miner" button then everything will automatically turn green like the row of images below
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So it can be seen that after you click the Miner button, it will automatically become valid, and you can see in the details below that each block that carries the hash is tied to each other, the hash will continue to follow the next blocks to become a valid data, you can see the following details
Block : 1
Nonce : 10534
Prev : 0000000000000000000000000000000000000000000000000000000000000000
Hash : 000027b26249b2062a7c47da2813f4d9c88ae3de10f15076a6e583f2e7461882
Block : 2
Nonce : 46295
Prev : 000027b26249b2062a7c47da2813f4d9c88ae3de10f15076a6e583f2e7461882
Hash : 0000aa69553b378a3f14b2cd491c3736d3990c74be551a75f2b5aa3ae2a7ec40
Block : 3
Nonce : 53517
Prev : 0000aa69553b378a3f14b2cd491c3736d3990c74be551a75f2b5aa3ae2a7ec40
Hash : 00005e7fba6310bc157c8598606d84b7060126c3b9d3f86ee5c38acb2154344b
Block : 4
Nonce : 93069
Prev : 00005e7fba6310bc157c8598606d84b7060126c3b9d3f86ee5c38acb2154344b
Hash : 0000a73ba4b04e9019026af65f58f9fd0b5ee2696cb17d9d60ba4612c957be82
Block : 5
Nonce : 42751
Prev : 0000a73ba4b04e9019026af65f58f9fd0b5ee2696cb17d9d60ba4612c957be82
Hash : 000046a1a9dfccf78488c9f9193aa5caff4d149ba8f25788b619b265d29fda1f
So the point is to make a valid block you have to enter the word "rnadewi" then click miner, it is done one by one on each block until the fifth block so that all blocks follow each other or form a block chain so that the data becomes valid data
5. Explain the advantages and disadvantages of using blockchain technology!
So in question number 5 we will see the advantages and disadvantages of blockchain technology, as follows:
Advantages Blockchain Technology
- Have a very good ability to record data
- Has low data storage costs
- Does not require a third person or other agency to disseminate data to all users, but rather it is the user who participates in disseminating the data through mining.
- It has excellent data storage security, and maintains the security of its users' privacy regarding user's personal data.
- It doesn't take long to process transactions
Disadvantages Blockchain Technology
- Coin Mining Activities that waste electricity, and are not environmentally friendly and can also increase global warming due to mining activities
- Become a tool for criminals because privacy is maintained regarding the user's personal data
- It has a very low block logging rate, and blocks will be logged too slowly
- Requires a very large cost to develop the network
6. Conclusion!
There are several conclusions that I can draw from this task on Mini Crypto 3, including:
- Blockchain is a chain of interrelated blocks between the previous block and the next block, where the task of the block is to validate or verify transaction activities that are taking place in the Blockchain network.
- Blockchain also has 4 different types, Public Blockchain, Private Blockchain, Hybrid Blockchain and Consortium Blockchain, which you can use according to your wishes and the functions you want to take advantage of, because each Blockchain type has its own advantages and disadvantages.
- Blockchain is also a technology that is able to overcome all the shortcomings regarding world recording, but it has the disadvantage that it is not environmentally friendly in its mining activities, because it makes it wasteful of electrical energy and can increase global warming due to mining activities carried out in solving each block using a device advanced
Closing
So that's all I can say about the task on MiniCrypto3 about "Understanding of Blockchain", hopefully it can help other friends to better understand the Crypto world, and if there is something wrong in my delivery, I apologize.
Thanks For:
@liasteem
@radjasalman
@klen.civil
@irawandedy
Thank you for participating in MINI CRYPTO PROGRAM PART 3
Dear @rnadewi ,
Thank you for participating in this Mini Crypto program, I really appreciate your good intentions and your efforts in understanding our practice this time.
Blockchain has 3 important parts and you didn't mention it.
you have good understanding about blockchain, but You didn't explain about blockchain detail.
This learning will greatly benefit you to be in Crypto Academy later, because we are in cryptocurrency-based social media, and Cryptocurrency is in blockchain technology.
Don't repeat the same words too much.
Thank you very much, we will waiting for your next exercise, and we will waiting you at the season 4 of Crypto Academy. 👍💪
Has been assessed by;
@liasteem
@steem.education
Thank you sister, Riana will try to do better in the future
🤗👍