Blockchain – Conclusion

In this short tutorial you were introduced to several concepts of Blockchain by taking Bitcoin as a case study. The Bitcoin is the first successful implementation of blockchain. Today, the world has found applications of […]


Bitcoin – Mitigating Attacks

I will discuss three different types of probable attacks in the Bitcoin system − Race Attack As an attacker, you may send the same coin to different vendors in rapid succession, probably by using two […]


Blockchain – Privacy

As the ledger which is recording all the bitcoin transactions is made truly public, the privacy is at stake. Anybody in the world would be able to know who paid whom? The traditional banking system […]


Blockchain – Merkle Tree

The issue of disk space in a node is easily overcome because all transactions in a block are hashed in a Merkle Tree as shown in image − The block header now contains the hash […]


Blockchain – Network & Mining

I will now summarize the steps described above; this is what happens in the network − Anybody who wants to obtain services from the third party who has advertised on the network first creates a […]

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Blockchain – Proof of Work

As all transactions are time stamped, we need to implement a distributed timestamp server on a peer-to-peer network. This requires some additional implementation and that is the Proof-of-Work that I will describe now. To each […]


Blockchain – Chaining Blocks

The blocks created by various miners are chained together to form what is known as a truly distributed public ledger. Each block in the chain contains multiple messages (transactions) as seen earlier in Figure 8. […]


Bitcoin – Mining

When Bob creates a purchase request for Lisa, he does not send it to Lisa alone. Rather the request message is broadcasted on the entire network to which he is connected. Bob’s network is depicted […]


Blockchain – Hashing

One of the most important function in PKI is the hashing function. A hash function maps the data of any arbitrary size to data of fixed size. Bitcoin uses SHA-256 hash function that produces a […]


Bitcoin – Brief History

The Bitcoin was introduced in this world by Satoshi Nakamoto through a research-style white paper entitled Bitcoin: A Peer-to-Peer Electronic Cash System in the year 2008. The Bitcoin not only solved the double-spending problem, but also offered […]


Blockchain – Introduction

In recent years, there is a lot of buzz on Blockchain. Many have described this as a most disruptive technology of the decade. Especially, the financial markets could be the most affected ones. The technology […]


Blockchain Tutorial

A blockchain is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. Blockchain has been in a […]