Blockchain Explained Series, Data Mining (chapter 3)
The rest of the e-learning module is available for FREE via www.primerli.com/blockchain
Finally, learning about blockchain has been made simple!
In this video, you will learn about the distributed storage of records (Nodes) and how data is securely added to blockchains. It also introduces the concept of Bitcoin mining, and illustrates a few of the different protocol consensus mechanisms namely Proof of Work and Proof of Stake.
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Key Sections:
0:11 - Traditional database
0:18 - Blockchain
0:24 - Distributed storage of records, Nodes
0:45 - Proposing the addition of data
0:54 - Changes of ownership
1:00 - Node agreement
1:20 - Latest source of truth
1:26 - How it works in practise
1:45 - Transaction validation
2:20 - Bitcoin transaction approvals (private keys)
3:15 - Protocol consensus mechanisms - Bitcoin, Proof of Work
3:55 - Cryptographic algorithms
4:06 - Bitcoin mining
4:50 - Mining pools
5:08 - Proof of stake
5:33 - The Merge
5:45 - Bitcoin - digital currency
5:52 - Etherium - decoding info about non financial information
6:15 - Tokens and Cryptocurrencies
The video is an excerpt from the Blockchain Industry Primer learning module, produced by the world class, digital e-learning content provider Primerli (https://www.primerli.com). The full module contains 12 bitesized pieces of content, with additional quick quizzes designed to help professionals learn about the industry in under an hour.
Blockchain technologies - cryptocurrencies, NFTs, smart contracts - are among the most discussed emergent technologies today. Many believe that blockchain solutions will fundamentally transform industries as well as our daily lives. The world of blockchain is a rapidly-changing landscape, and a deep well. Blockchain development has become a field of study in its own right. In this primer, we distill the key messages for those looking to understand blockchain and its possible real-world use cases. Over these chapters, we will answer three guiding questions: what is a blockchain, how does it work, and how can it be applied to global industries like finance, supply chain, healthcare, and government?
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