Blockchain

This tutotrial 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…

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…

As we have seen the Bitcoin network contains several miners. It is possible, that the two different miners solve the Proof-of-Work at the same time and thus add their blocks…

Consider a case whereby as a vendor you may like to verify a certain payment made in the past. As the blockchain you are holding on your machine contains only…

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…

As we saw in the chapter Bitcoin - Mining, a miner may be flooded with many transactions at any given period of time. The maximum size for a block is…

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…

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…

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…

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…