Blockchain Technology 2 of 4 Hands On Experience
Blockchain technology – Hands on Experience
The unique feature of this video that you will get practically experience the technology working behind the Blockchain.
In this video, I shall describe the second (2) part of Blockchain video (How Block is mined cryptographically?)
1. How cryptocurrency transaction is secured cryptographically?
2. How Block is mined cryptographically?
3. How Blockchain works?
4. How decentralized distributed database spread over the network?
Complete video transcript is available at this link:
https://blockchainwriter.review/
HOW BLOCK IS MINED CRYPTOGRAPHICALLY?
Now, we apply the hash function into a block mining. Every block must have a block number, Nonce number, secured & hidden data & a hash.
Here hash begins
In this block, hash function after digesting data gives a hash value which starts with a leading four (4) zeros which is supposed a valid hash for a valid block. Everything inside the block is highly encrypted, secure & hidden.
With this hash, we can’t reverse back to original data. Decrypting data using private key is another function.
If anyone try to temper block, it turns into red color & invalidate block, giving invalid hash which is not begin with 4 leading zeros.
To mine a valid block, miner would start mining using computational power of hardware & try to figure out Nonce; once used number, a random number which helps in finding a valid hash for a specified block.
It must be remembered that for any specific data / text or document, there should be a specific hash value for a specific block with a specific nonce number.
Any changes made anywhere in Block number, nonce number or data, it should invalidate the block & to mine a valid block, each time, miner will find a correct nonce which matches with a valid hash for a valid block.