Blockchain

What:

• It’s essentially a linked list of groups of transaction histories (dubbed blocks).
• Each “block” contains:
  • A hash corresponding to the previous block (of transactions)
  • A block of transactions
  • A Proof of Work (typically a hash of everything else + a special number).

Quirks:

• To find the next block, you have Blockchain Miners, who broadcast their next block.
• Copies of the chain exist across many nodes (in a Distributed Ledger)
• The true copy of the chain is the one with the most work done (most blocks calculated).

Cool Shit:

• If you tried to change any of the blocks or moved their order, you’d change the hashes, which would mess up all of the PoWs etc.
• Because all of the blocks are chained together, it’s called a Blockchain!!!! Pretty sick right
• Remember, all Linked Lists must start from somewhere. In Bitcoin, the “Genesis Block” was mined by Satoshi Nakamoto

The Gossip Protocol:

• The way we share information here is by broadcasting data to our peers, who then broadcast that day on and on (unless it’s already been seen and shared before).