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Blockchain

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* Tin tức chung về blockchain:

+ Định nghĩa:
- A blockchain is “a distributed database that maintains a continuously growing list
of ordered records, called blocks.” These blocks “are linked using cryptography.
Each block contains a cryptographic hash of the previous block, a timestamp, and
transaction data. A blockchain is a decentralized, distributed and public digital
ledger that is used to record transactions across many computers so that the record
cannot be altered retroactively without the alteration of all subsequent blocks and
the consensus of the network.
+ Cấu tạo:

1.A distributed ledger


A distributed ledger is the shared database in the blockchain network that stores the
transactions, such as a shared file that everyone in the team can edit. In most
shared text editors, anyone with editing rights can delete the entire file. However,
distributed ledger technologies have strict rules about who can edit and how to
edit. You cannot delete entries once they have been recorded.

2.Smart contracts

Companies use smart contracts to self-manage business contracts without the need
for an assisting third party. They are programs stored on the blockchain system that
run automatically when predetermined conditions are met. They run if-then checks
so that transactions can be completed confidently. For example, a logistics
company can have a smart contract that automatically makes payment once goods
have arrived at the port.

3.Public key cryptography

Public key cryptography is a security feature to uniquely identify participants in


the blockchain network. This mechanism generates two sets of keys for network
members. One key is a public key that is common to everyone in the network. The
other is a private key that is unique to every member. The private and public keys
work together to unlock the data in the ledger.

+ Cách thức hoạt động:


Step 1 – Record the transaction

A blockchain transaction shows the movement of physical or digital assets from


one party to another in the blockchain network. It is recorded as a data block and
can include details like these:

 Who was involved in the transaction?


 What happened during the transaction?
 When did the transaction occur?
 Where did the transaction occur?
 Why did the transaction occur?
 How much of the asset was exchanged?
 How many pre-conditions were met during the transaction?

Step 2 – Gain consensus

Most participants on the distributed blockchain network must agree that the
recorded transaction is valid. Depending on the type of network, rules of
agreement can vary but are typically established at the start of the network.

Step 3 – Link the blocks

Once the participants have reached a consensus, transactions on the blockchain are
written into blocks equivalent to the pages of a ledger book. Along with the
transactions, a cryptographic hash is also appended to the new block. The hash acts
as a chain that links the blocks together. If the contents of the block are
intentionally or unintentionally modified, the hash value changes, providing a way
to detect data tampering.
Thus, the blocks and chains link securely, and you cannot edit them. Each
additional block strengthens the verification of the previous block and therefore the
entire blockchain. This is like stacking wooden blocks to make a tower. You can
only stack blocks on top, and if you remove a block from the middle of the tower,
the whole tower breaks.

Step 4 – Share the ledger

The system distributes the latest copy of the central ledger to all participants.
+ Tính chất:
- Distributed ledger technology: All network participants have access to the
distributed ledger and its immutable record of transactions. With this shared ledger,
transactions are recorded only once, eliminating the duplication of effort that’s
typical of traditional business networks.
-Immutable records: No participant can change or tamper with a transaction after
it’s been recorded to the shared ledger. If a transaction record includes an error, a
new transaction must be added to reverse the error, and both transactions are then
visible.
-Smart contracts: To speed transactions, a set of rules that are called a smart
contract is stored on the blockchain and run automatically. A smart contract
defines conditions for corporate bond transfers, include terms for travel insurance
to be paid and much more.
+ Ứng dụng:
1. Blockchain for payment processing and money transfers:
-Transactions processed over a blockchain could be settled within a matter of
seconds and reduce (or eliminate) banking transfer fees.
2. Blockchain for monitoring of supply chains:
-Using blockchain, businesses could pinpoint inefficiencies within their supply
chains quickly, as well as locate items in real time and see how products perform
from a quality-control perspective as they travel from manufacturers to retailers
3. Blockchain for digital Ids:
-Microsoft is experimenting with blockchain technology to help people control
their digital identities, while also giving users control over who accesses that data.
4. Blockchain for data sharing:
-Blockchain could act as an intermediary to securely store and move enterprise
data among industries.
5. Blockchain for copyright and royalties protection:
-Blockchain could be used to create a decentralized database that ensures artists
maintain their music rights and provides transparent and real-time royalty
distributions to musicians. Blockchain could also do the same for open source
developers.
6. Blockchain for Internet of Things network management:
-Blockchain could become a regulator of IoT networks to “identify devices
connected to a wireless network, monitor the activity of those devices, and
determine how trustworthy those devices are” and to “automatically assess the
trustworthiness of new devices being added to the network, such as cars and
smartphones.”
7. Blockchain for healthcare:
-Blockchain could also play an important role in healthcare: “Healthcare payers
and providers are using blockchain to manage clinical trials data and electronic
medical records while maintaining regulatory compliance.”
+ Lợi ích:
+ Improved accuracy by removing human involvement in verification

+ Cost reductions by eliminating third-party verification

+ Decentralization makes it harder to tamper with

+ Transactions are secure, private, and efficient

+ Transparent technology

+ Provides a banking alternative and a way to secure personal information for


citizens of countries with unstable or underdeveloped governments

+ Nhược điểm:

+ Significant technology cost associated with some blockchains

+ Low transactions per second

+ History of use in illicit activities, such as on the dark web

+ Regulation varies by jurisdiction and remains uncertain


+ Data storage limitations

+ Phân loại:

- Public blockchains: A public blockchain has absolutely no access restrictions.


Anyone with an Internet connection can send transactions to it as well as become a
validator. Usually, such networks offer economic incentives for those who secure
them and utilize some type of a proof-of-stake or proof-of-work algorithm.
Some of the largest, most known public blockchains are the bitcoin blockchain and
the Ethereum blockchain.

- Private blockchains: A private blockchain is permissioned. One cannot join it


unless invited by the network administrators. Participant and validator access
is restricted. To distinguish between open blockchains and other peer-to-peer
decentralized database applications that are not open ad-hoc compute clusters, the
terminology Distributed Ledger (DLT) is normally used for private blockchains.
- Hybrid blockchains: A hybrid blockchain has a combination of centralized and
decentralized features.The exact workings of the chain can vary based on which
portions of centralization and decentralization are used.
- Sidechains: A sidechain is a designation for a blockchain ledger that runs in
parallel to a primary blockchain. Entries from the primary blockchain (where said
entries typically represent digital assets) can be linked to and from the sidechain;
this allows the sidechain to otherwise operate independently of the primary
blockchain (e.g., by using an alternate means of record keeping,
alternate consensus algorithm, etc.)
- Consortium blockchain: A consortium blockchain is a type of blockchain that
combines elements of both public and private blockchains. In a consortium
blockchain, a group of organizations come together to create and operate the
blockchain, rather than a single entity. The consortium members jointly manage
the blockchain network and are responsible for validating transactions. Consortium
blockchains are permissioned, meaning that only certain individuals or
organizations are allowed to participate in the network. This allows for greater
control over who can access the blockchain and helps to ensure that sensitive
information is kept confidential.
+ Các lĩnh vực sử dụng blockchain:

- Banking and Finance

- Currency
- Healthcare

- Property Records

- Smart Contracts

- Supply Chains

- Voting

+ Ý nghĩa với xã hội:

- Bitcoin, Blockchain’s prime application and the whole reason the technology was
developed in the first place, has helped many people through financial services
such as digital wallets. It has provided microloans and allowed micropayments to
people in less than ideal economic circumstances, thereby introducing new life in
the world economy.

- The next major impact is in the concept of TRUST, especially within the sphere
of international transactions. Previously, lawyers were hired to bridge the trust gap
between two different parties, but it consumed extra time and money. But the
introduction of Cryptocurrency has radically changed the trust equation. Many
organizations are located in areas where resources are scarce, and corruption is
widespread. In such cases, Blockchain renders a significant advantage to these
affected people and organizations, allowing them to escape the tricks of unreliable
third-party intermediaries.

- The new reality of the Internet of Things (IoT) is already teeming with smart
devices that turn on your washing machines; drive your cars; navigate your ships;
organize trash pick-up; manage traffic safety in your community you name it! This
is where blockchain comes in. In all of these cases (and more), leveraging
blockchain technology by creating Smart Contracts will enable any organization to
both improve operations and keep more accurate records.

- Blockchain technology enables a decentralized peer-to-peer network for


organizations or apps like Airbnb and Uber. It allows people to pay for things like
toll fees, parking, etc.

- Blockchain technology can be used as a secure platform for the healthcare


industry for the purposes of storing sensitive patient data. Health-related
organizations can create a centralized database with the technology and share the
information with only the appropriately authorized people.
* Tin tức về các loại tiền tệ kỹ thuật số:
+ Bitcoin :
- Bitcoin is a digital currency that operates without any centralized control.
Bitcoins were originally created to make financial transactions online but are now
considered digital assets that can be converted to any other global currency, like
USD or euros. A public Bitcoin blockchain network creates and manages the
central ledger.
+Ethereum:
- Ethereum is a decentralized blockchain with smart contract functionality. Ether is
the native cryptocurrency of the platform. Among cryptocurrencies, ether is second
only to bitcoin in market capitalization. It is open-source software.
+ Stablecoins
- Stablecoins are cryptocurrencies whose value is pegged, or tied, to that of
another currency, commodity, or financial instrument. Stablecoins aim to provide
an alternative to the high volatility of the most popular cryptocurrencies, including
Bitcoin (BTC), which has made crypto investments less suitable for common
transactions.
* Các nền tảng sử dụng blockchain:
+DeFi:
-DeFi stands for decentralized finance, which owns the blockchain advantages,
thus removes trusted third parties and more. DeFi will have profound impact to
traditional financial industries.
+ NFTs:
- NFTs, or Non-Fungible Tokens, are unique digital assets that represent ownership
of a particular item, such as a piece of art, music, or video. Unlike traditional
cryptocurrencies such as Bitcoin, NFTs are non-fungible, which means they cannot
be exchanged for another asset of equal value, as they represent something unique
and specific.
* Các dự án về blockchain:
+ Ethereum : Ethereum is one of the most used blockchain ecosystems that enables
developers to build dApps. It started as a proof-of-work network and migrated to a
proof-of-stake that enabled a more scalable system. Many of the leading projects in
the world of blockchain are developed using the Ethereum Network. Furthermore,
it is particularly popular for the creation of NFT collections and communities.
Uniswap, the original decentralized exchange, Aave, a decentralized lending
protocol and some of the biggest players in the metaverse, including The Sandbox
and Decentraland are developed on the Ethereum Network.

+Polygon: Polygon is a layer 2 blockchain with a native token. It was designed to


tackle Ethereum’s scalability issues. The teams working with Polygon have
created multiple tools to improve the speed of transactions and reduce the cost of
transactions in the worlds most used Network, Ethereum. Popular projects using
Polygon solutions include Quickswap, Mai Finance and Decentral Games.

+Near Protocol: NEAR is a dynamic blockchain focused on user experience and


speed. Near protocol is renowned for its speed of transactions using sharded
technology called nightshade that can handle over 100,000 at once. It also offers an
easy entrance point to Web3 for developers who wish to discover blockchain
technology and NFTs. NEAR has become a go-to launchpad for interesting
projects, including: Mintbase, Paras, Ref Finance and Decentral Bank.

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