Blockchain Tutorial For Beginners | Blockchain Terminologies & Concepts | 2021.
WHAT ARE THE KEY CONCEPTS OF BLOCKCHAIN DEVELOPMENT?
Blockchain technology was introduced to disrupt the financial sector. Many financial institutes and banks have leveraged blockchain to make transactions secure and remove intermediaries.
But blockchain technology is not only restricted to the finance sector. From automobile to retail, healthcare, manufacturing and travel, every industry is investing in blockchain to avail its benefits.
The technical concept behind the blockchain is similar to that of a database, but the interaction with that database is entirely different.
For developers willing to learn blockchain development, it is essential to understand how they will write software applications in the future and how different blockchain concepts like consensus, trusted computing, smart contracts and file storage systems interact with one another in a decentralized environment.
Understanding the basics of Blockchain Development
If you are a beginner, you should be familiar with the following terms:
Blockchain
Decentralized
Decentralized Consensus
Smart Contracts
Mining
Following are some of the important concepts that are prerequisite for the blockchain development
Programming Language- C, C++, Java, JavaScript, Python and Solidity.
Data Structures- Linked List, Hyperledger, Acyclic Graph, HashTable and Associative Array.
Security and Encryption- Secure Hashing Algorithm, Private Key and Public Key Pair.
Networking Concepts- Multi-Threading and Socket Programming.
Whether you are a learner, innovator or entrepreneur, you should also know about the different blockchain consensus algorithms on the basis of which a blockchain platform can be chosen to build a dApp (decentralized application).
Mentioned below are some of the blockchain consensus algorithms which can be used for blockchain development
Proof of Work
Proof of Stake
Proof of Elapsed Time (PoET)
Practical Byzantine Fault Tolerance (PBFT)
Following are some of the blockchain development tools which can help ease the development process
Geth
Mist
Remix
Solc (Solidity Compiler)
Blockchain Testnet
Here are the top blockchain platforms that support blockchain development
ethereum
Hyperledger Sawtooth
Hyperledger Fabric
EOS
Hedera Hashgraph
for more infromation: leewayhertz.com/blockchain-development-key-concepts/#:~:text=The%20blockchain%20is%20an%20incorruptible,not%20by%20any%20central%20authority.&text=The%20information%20stored%20on%20the%20blockchain%20can%20never%20be%20deleted%20or%20altered.
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Tags: #Blockchain, #Bitcoin, #Decentralized, #Tutorial, #Mining