Consensus Mechanism in Blockchain

A thread🧵 📌Blockchain
Blockchain is a distributed decentralized network that provides immutability, privacy, security, and transparency. There is no central authority present to validate and verify the transactions.
Hence we require some consensus protocol.

NFT Use cases

A thread🧵 🎵Music
Your unique musical artwork can be sold in the form of NFT to anyone. The owner has the right to determine how the composition is used.

What are DApps?

A mega thread🧵 Most of the apps today run on centralized networks i.e they are controlled by a single authority. For example, social media networks, banks, and streaming services hold all of our data on centralized servers.

What is Defi?

A mega thread🧵 Defi stands for 'Decentralized finance'. It refers to financial applications built on blockchain technology that enable digital transactions between multiple parties.

Before diving into it further, let us first understand centralized or traditional finance.

All security threads curated

A thread🧵

https://twitter.com/meetjain74/status/1484549025789788163?s=20&t=rSsZOjbMXbBiS58tWWpL8A

What is the metaverse?

A mega thread🧵 Imagine that you and your friend physically far apart attending a 'Justin Bieber' concert 'virtually' with thousands of fans from across the globe together.

No, I don’t mean being part of an online concert of the like we have all attended in the pandemic times.

Important algorithms and problems every programmer should know

A thread🧵 📌Sorting Algorithms
- Bubble sort
- Insertion sort
- Quick sort
- Merge sort
- Heap sort
- Counting sort

Soft fork vs Hard fork

A thread🧵 📌Forking
Blockchain forks are essentially a split in the blockchain network. A fork happens whenever a community makes a change to the blockchain’s protocol or basic set of rules.

How to approach any coding problem?

A thread🧵 📌6 Steps
🔸Understanding
🔸Planning
🔸Decomposition
🔸Stuck
🔸Study
🔸Practice

Proof of Work Consensus Mechanism (PoW)

A thread🧵 📌Consensus
A general agreement that is accepted by all people in a group.

In Blockchain, consensus refers to that all nodes in the network reach a particular agreement about the blocks in the blockchain.

Proof of work is an example of a consensus mechanism.

Blockchain Use Cases

A thread🧵 📌Decentralized finance - Defi
Decentralized finance refers to the shift from traditional, centralized financial systems to peer-to-peer finance enabled by decentralized technologies built on blockchain.

What is hashing in blockchain?

A thread🧵 📌Hashing
Hashing refers to the process of converting a given string into a unique value. A hash function is used to generate the new value according to a mathematical algorithm. The result of a hash function is known as a hash value or a hash.

Resources to learn Web 3.0 for FREE

A thread🧵 📌Concepts to learn about web3
🔸Blockchain
🔸Decentralization
🔸Dapps
🔸Smart contracts

Tips for writing code efficiently for beginners

A thread🧵 📌Create functions -
Never write all the code in one function only. Make functions performing short tasks so as to increase readability. Writing code in different functions also makes us easy to write code
Example:

Why is Proof of Work used for consensus?

A thread🧵 📌Consensus
A general agreement that is accepted by all people in a group.

In Blockchain, consensus refers to that all nodes in the network reach a particular agreement about the blocks in the blockchain.

Proof of work is an example of a consensus mechanism.

What is a Digital signature?

A thread🧵 📌Digital signature
The result of a cryptographic transformation of data that, when properly implemented, provides a mechanism for verifying origin authentication, data integrity, and signatory non-repudiation.

Web 1.0 vs Web 2.0 vs Web 3.0

A thread🧵 📌The era
1989-2005: Web 1.0
Current day version: Web 2.0
The future: Web 3.0

Different hashing scenarios

A thread🧵 Hashing is generally used to achieve integrity.

Why is it difficult to tamper data in blockchain?

A thread🧵 📌Blockchain
A blockchain is a chain of digital blocks that contain records of transactions

6 books to become a better programmer

A thread🧵 📌The clean coder

Types of keys in SQL

A thread🧵 📌Primary key
A primary key is a table attribute or column that identifies every record present in a table uniquely. There can be only one primary key attribute in a table and primary key column attributes can't be the same or null values.