Course Content
Basic components of Blockchain technology
0/3
Relevant techniques in blockchain technology
0/2
Consortium Blockchain
A consortium blockchain is a type of blockchain network where several organizations or entities work together to maintain the network. Unlike public blockchains where anyone can participate, and private blockchains where a single entity controls the network, consortium blockchains offer a middle ground.
0/4
Cryptocurrency Investing Course
    About Lesson

    Relevant techniques in blockchain technology

    • Hash function: This is the process of transforming an unlimited quantity of input data into a finite number of output data. Hash functions are frequently employed to ensure data integrity. Users may check the legitimacy of a transaction by comparing its hash value on the application to its hash value on the block explorer.
    • Blockchain address: a lengthy string of alphanumeric characters that is publicly disclosed so that other users can send transactions. A public key will be used to generate each Blockchain address. This public key is derived from a private key, which serves as a means for proving public key ownership.
    • Digital signature: an encrypted string of characters transmitted together with the transaction’s original data to the Blockchain network. To generate a digital signature, the user will encrypt the data contained in the transaction delivered to the receiver with a private key. The secret key used for this encryption is the same as the secret key used to construct the sender’s Blockchain address. If the transaction data used for encryption changes, or if the same data is used but with a new user’s private key, the digital signature will change.