BLOCKCHAIN IS SOO EASY
Explained Easily: Discover the Giants on whose Shoulders Blockchain technology stands Tall! (Part 2)
NB: Blockchain, Strictly for Lazy Beginners
In this adventure, you will learn the basic meaning of a Merkle tree, how a peer-to-peer network operates, and why protocols and rules are necessary in peer-to-peer networks.
Introduction
Get ready to hang on your learning cameras and embark on another thrilling journey to discover the other technologies combined to create blockchain technology.
We discussed some of these technologies over here and are back to completing this fun journey in the techy world that existed before blockchain technology.
So, HODL tight and get jogging— the end of this journey is in sight, and you won’t want to miss a thing!”
Previous Recap
listed below is a basic summary of what was discussed in the last article:
- Blockchain technology deals with the storing of digital data on connected blocks.
- Blocks are data structures that store data in a blockchain.
- Cryptography techniques are employed to secure data uploaded into a blockchain.
The next technology we would visit is Computer Technique: Merkle trees.
Computer Technique: Merkle Trees
What is a Merkle Tree?
A Merkle tree (binary tree) is a type of data structure in computer science used to store large sets of data efficiently.
This data structure is tree-like in look, hence the name Merkle tree. All data recorded on it are connected to produce a Merkle root.
Ralph Merkle created the Merkle tree in 1979.
Fun Question: Can someone climb a Merkle tree?
Fun answer: a Merkle tree is a digital data structure, i.e., it doesn't exist as a physical object but it is a data structure.
How are Merkle trees linked to blockchain technology?
A tree-like data structure called a Merkle tree organizes all data stored in a block.
When new data gets recorded in a block, it links to the previous data present in the block. The linking of all these data gives rise to a tree-like structure known as a Merkle tree.
The tree-like structure of a Merkle tree allows for quick access and verification of all recorded data.
Fun Fact: Each block on the blockchain contains a Merkle tree that holds all the data stored in it.
The Merkle root is a single value that represents all of the data in the Merkle tree and serves as a pointer to all data stored.
Merkle roots make it easier for everyone to access and verify previous data without downloading the entire blockchain. The presence of a Merkle root makes it more efficient to store and access data within the blockchain.
Our next Junction is Computer network technology: Peer-to-Peer network.
Computer Network technology: Peer to Peer Network
- What is a Peer to Peer (P2P) Network?
- Examples of peer-to-peer network
- How are peer-to-peer networks linked to blockchain technology?
What is a Peer to Peer (P2P) Network?
A peer-to-peer network is a computer network that allows computers to interact directly with one another without the presence of a middleman.
In a P2P network, there is no central power that controls the distribution of data. Instead, each computer acts as an equal participant in the network.
Examples of peer-to-peer networks
How are peer-to-peer networks linked to blockchain technology?
Blockchain technology relies on computers connected on a peer-to-peer network to record, store and transfer data. Computers on this type of network directly interact with themselves.
No central authority or server exists as these computers act as both clients and servers on the network. This sole reason gives rise to decentralization encountered in a blockchain peer-to-peer network.
This decentralized nature of the blockchain network makes data upload and transfer more secure.
Fun fact: The more people join the network, the more challenging it would be for a single bad computer to take control of the network.
Blockchain is a distributed ledger because it distributes and stores its digital ledgers across all computers connected to the blockchain network.
Fun Question: Why is blockchain said to be decentralized?
Fun Answer: It is said to be decentralized because there is no central authority. Individual computers each possess the right to upload data on blocks and create new blocks on the blockchain.
Connected computers on blockchain networks follow specific rules and protocols known as consensus mechanisms.
Take a deep breath now😌. This journey is almost over.
Now unto our last bus-stop, which is Computer Science: Consensus Mechanism.
Computer Science: Consensus Mechanism
- What is Consensus Mechanism?
- Examples of Consensus Mechanisms
- How are Consensus Mechanisms Linked to Blockchain Technology?
What is Consensus Mechanism?
Consensus mechanisms are the protocols (rule) guiding connected computers in a decentralized network.
These protocols govern how computers in the blockchain network reach agreement on valid data upload, data transfer, and blocks creation.
Consensus mechanisms are essential to blockchain technology as they allow the network to operate smoothly without needing a central authority.
Without this rule structure, the peer-to-peer system would not operate smoothly.
Examples of Consensus Mechanisms
How are Consensus Mechanisms Linked to Blockchain Technology?
Blockchain technology uses consensus mechanisms to check the validity of data recorded into blocks (i.e., prevent uploading invalid or wrong data).
Consensus mechanisms are a significant part of blockchain technology because they guide the interactions between computers on the blockchain network.
This mechanism also decides on the types of rewards distributed to computers that upload correct data and punishments dished out to computers that upload wrong data into blocks.
Fun Fact: A suitable consensus mechanism tightens the blockchain security, heightens the decentralization of the blockchain, and increases the validity of the data recorded.
Recap
We have come to the end of this article, before we say bye, let's do a recap.
- Merkle tree assist securely stores data and efficiently organizes data recorded in blockchains.
- Peer-to-peer network is a computer network that doesn't need a central authority to store and send out data.
- Consensus mechanism governs the way users in a peer-to-peer network interact within themselves.
Wow, this fun journey has finally come to an end and boy o boy did you have a blast learning?
Hope you took pictures to capture your memories. Never mind, Journey 1 and journey 2 would always be available to revisit.
Have any friends who would love a journey like this? Share these fantastic journeys with them, they to deserve to read simple, and fun related blockchain articles.
In conclusion
Blockchain technology uses computers connected to a peer-to-peer network to store and transfer data using digital ledgers called blocks.
A tree-like data structure called a Merkle tree organizes the data stored in blocks, and cryptography encrypts the data within them.
Computers on the blockchain network reach agreement on the accuracy of recorded data using a consensus mechanism that allows the network to operate smoothly and securely without the need for a central authority.
The invention of the Bitcoin blockchain has led to the creation of many other blockchains. Each with its own unique set of features and use cases.
While the technologies and techniques used in these projects may vary, they all still rely on the basic principles of digital ledgers, cryptography, data structures, and peer-to-peer networking to function perfectly.
Please follow Small Bites of Crypto_Currents to learn more about the hidden wonders of blockchain technology.
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