23 Aug 23 9:42 pm type: related: blockchain dev blockchain infra cryptography
network:
- synchronized ledger of transactions
- uses the datastructure of blockchain to store data
- inside verkle trees
- powered by miners / validators which operate under consensus algorithms
consensus algorithms helps coordinate who produces and organizes blocks and also indicating which is the longest chain by updating the head of the blockchain continuously
blockchains try to optimize for:
- security
- decentralization
- scalability
security & decentralization via consensus algorithm
- running expensive operations on massive hardware like proof of work
- staking economic resources in the network with proof of stake
the more players in the consensus game, the more secure and decentralized the network becomes.
lightclients:
- improves decentralization
- able to run on consumer hardware
- anyone can sync the state in their node
protocol
Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly.” - Vitalik Buterin Blockchains are the new app stores)