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content/notes/bitcoin.md
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@ -10,7 +10,8 @@ whitepaper: bitcoin.org/bitcoin.pdf
purpose purpose
- wide range of views - 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 - some argue that maximizing the value of bitcoin is most important
the bitcoin governance process maintains a set of rules about 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 - share proposed changes will devs through email, white paper and/or a BIP
implementation implementation
-
# 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.

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content/notes/think-writing.md
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@ -78,3 +78,17 @@ R3 Corda: open source permissioned platform. Follow know your customer principle
# 19/12 # 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 be _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