diff --git a/content/notes/bitcoin.md b/content/notes/bitcoin.md index efd4cbc1b..4a7810ce9 100644 --- a/content/notes/bitcoin.md +++ b/content/notes/bitcoin.md @@ -10,7 +10,8 @@ whitepaper: bitcoin.org/bitcoin.pdf purpose - wide range of views -- some argue that trustlessness is most important (the ability to use it trusting only the open source software) +- some argue that trustlessness is most important (the ability to use it trusting only the open source softwar +e) - some argue that maximizing the value of bitcoin is most important the bitcoin governance process maintains a set of rules about @@ -28,4 +29,12 @@ proposal - share proposed changes will devs through email, white paper and/or a BIP implementation -- \ No newline at end of file + + +# Network +1) New transactions are broadcast to all nodes. +2) Each node collects new transactions into a block. +3) Each node works on finding a difficult proof-of-work for its block. +4) When a node finds a proof-of-work, it broadcasts the block to all nodes. +5) Nodes accept the block only if all transactions in it are valid and not already spent. +6) Nodes express their acceptance of the block by working on creating the next block in the chain, using the hash of the accepted block as the previous hash. \ No newline at end of file diff --git a/content/notes/think-writing.md b/content/notes/think-writing.md index 9d7a0c5b2..d95ab66a1 100644 --- a/content/notes/think-writing.md +++ b/content/notes/think-writing.md @@ -78,3 +78,17 @@ R3 Corda: open source permissioned platform. Follow know your customer principle # 19/12 +Still dont understand fabric vs iroha. + +https://hyperledger-fabric.readthedocs.io/en/release-2.5/whatis.html + +For business use cases: +- Participants must be identified/identifiable +- Networks need to beĀ _permissioned_ +- High transaction throughput performance +- Low latency of transaction confirmation +- Privacy and confidentiality of transactions and data pertaining to business transactions + +Fabric has pluggable consensus algorithms: iroha has only YAC + +I started reading the bitcoin paper again. In bitcoin they are able to save space by storing hashes of transactions in a merkle tree and stubbing off branches. In Ethereum and other chains with smart contracts and storage, how to they prevent the chain from taking up a lot of space? I also thought that blockchain can act basically as a database and you are able to go back and look at data stored "on-chain". Where is this data stored? I'll have to read up about Ethereum again but I suspect the chain must use more storage space, or they only sto \ No newline at end of file