Shows
Blockchain in 2 minutes | Karthikeyan VeeranWhat is mean by DAO?What is mean by DAO?
The DAO stands for Decentralized Autonomous Organization. It is an organization that is both autonomous and decentralized. It is represented by rules encoded as a computer program that is transparent, controlled by shareholders, and not influenced by the central government.
A DAO can be seen as the most complex form of a smart contract. A smart contract is a computer program that autonomously exists on the Internet, but at the same time, it needs people to perform a task that it can't do by itself.
A DAO's financial...
2022-08-1801 minBlockchain in 2 minutes | Karthikeyan VeeranStoring Data in a BlockchainStoring Data in a Blockchain
A blockchain handles data differently than a traditional database. One of the biggest differences is that a blockchain does not support CRUD operations. The only database operations are Write, which is the same as Create, followed by populating data before writing, and Read. After data has been placed in a block and added to the blockchain, that data cannot change. A blockchain does not have Update and
Delete operations.
The other big difference between blockchain data storage and databases is their location. A complete copy of the blockchain is...
2022-08-1802 minBlockchain in 2 minutes | Karthikeyan VeeranMaking Blocks Immutable. Possible ?Making blocks immutable
The reason why so much effort is put into ensuring consensus is that after a block is added to the blockchain, it never changes. Well, that’s the goal. Technically, it is possible to change blockchain data, but it is very, very hard to do and very easy for anyone to detect the change. Using POW consensus protocol, the level of effort alone makes changing blocks pretty close to impossible.
Let’s understand why.
So, Before you add a block to the blockchain, you must calculate a cryptographic hash of the...
2022-08-1802 minBlockchain in 2 minutes | Karthikeyan VeeranWhat is Proof of Stake (PoS) ?Proof of Stake: The Proof of Stake (PoS) consensus protocol will likely replace Proof of Work. The developers of Ethereum already have plans to move to this protocol. The Proof of Stake protocol provides a similar level of consistency as the current Proof of Work protocol without using so much computing power (and wasting energy). Each node that wants to compete to add a new block locks some of its cryptocurrency and submits it as a bet. The “winning” node that gets to add the new block to the blockchain is chosen based on the size of the bet and...
2022-08-1801 minBlockchain in 2 minutes | Karthikeyan VeeranWhat is Proof of Work ?Proof of Work:
Proof of Work (PoW) use lots of energy and is the most popular consensus protocol used today, and is used by both bitcoin and Ethereum. Proof of Work means that some nodes compete to try to be the first to solve a mathematical puzzle. The puzzle is to find a random value to combine with a block’s header, such that the hash of the combined data matches a pattern. Solving the puzzle is hard, but verifying the solution to the puzzle is easy. The first node to solve the puzzle receives a reward fo...
2022-08-1801 minBlockchain in 2 minutes | Karthikeyan VeeranWhat is Consensus AlgorithmConsensus algorithm
The first rule blockchain nodes must agree to is how to allow new blocks to be added to the blockchain. Because no node has more authority than any other node, the nodes use consensus to agree to add new blocks. Consensus in this sense simply means that when enough nodes agree to take some action, that the action is approved and agreed upon by all nodes. Most consensus strategies use simple majorities to succeed. So, as long as more than half of nodes agree to take some action, the action is approved
The...
2022-08-1801 minBlockchain in 2 minutes | Karthikeyan VeeranBenefits of Blockchain that you should knowBenefits of Blockchain that you know?
Settlement in real-time: In the financial industry, blockchain can allowing the quicker settlement of trades. It does not take a lengthy process for verification, settlement, and clearance because a single version of agreed-upon data is available between all stack holders.
Cost-saving: Blockchain allows peer-to-peer transactions to be completed without the need for a third party such as a bank which reduced overhead costs for exchanging assets.
Security and Resilience: Blockchain uses very advanced cryptography to make sure that the information which is going to lock inside the...
2022-08-1803 minBlockchain in 2 minutes | Karthikeyan VeeranTypes of BlockchainDifferent types of Blockchains?
Blockchains are of three types:
1. Public
2. Private
3. Consortium or Federated
There are mainly three types of Blockchains introduced to the world.
1. Public Blockchain
A Public blockchain is a kind of blockchain which is "for the people, by the people, and of the people." There is no in-charge it means anyone can read, write, and audit the blockchain. It is an open-source, distributed, and decentralizes public ledger so anyone can review anything on a public blockchain. They are considered to be Permissionless...
2022-08-1801 minBlockchain in 2 minutes | Karthikeyan VeeranLittle about BlockchainWhat is Blockchain?
A Blockchain is a constantly growing ledger(file) that keeps a permanent record of all the transactions that have taken place, in a secure, chronological, and immutable way. It can be used for the secure transfer of money, property, contracts, etc. without requiring a third-party intermediary like bank or government.
Blockchain is the backbone of the most famous cryptocurrency named Bitcoin. It is a peer to peer electronic cash system and a decentralized network which allows users to make transactions directly without the involvement of third-party to manage the exchange of funds.
2022-08-1701 minBlockchain in 2 minutes | Karthikeyan Veeran2 minutes BlockchainI am Karthikeyan Veeran, I help global firms digitally transform using Blockchain, Intelligent Automation, Data analytics, Artificial Intelligence, setting up Centre of Excellence and application of Project management Strategy. This improves their operational efficiency, reduces their costs and improves their profitability | So, you can Ask me how | Other ways to help understanding | In all my episodes, I impart digital transformation technologies in a simplified & in a plain English. And I’m sure you will definitely gain knowledge from my podcast.
Well, I welcome you to my Podcast that’s 1 minute blockchain .
For any...
2022-08-1701 min
Blockchain in 2 minutes | Karthikeyan VeeranAny RPA Assessments Mandatory ChecklistsIn this episode I am imparting how to choose the right candidate for RPA
2022-01-3108 minBlockchain in 2 minutes | Karthikeyan VeeranNew Automation Opportunities beyond 2022Dear listeners,
Welcome to my Podcast on Automation Landscape !
I'm passionate about Automation and I speak all about it in a simplified way to make anyone understand it from a non-background to COE level.
All the episodes are having a blend of my rich experiences and knowledge in this space. You can reach me in my email id for any important things: mydearkarthikeyan@gmail.com
All my episodes are recorded in High Definition and processed in Dolby for the better-quality listening over the phone or in the large speakers. My Podcast is...
2022-01-0608 minBlockchain in 2 minutes | Karthikeyan VeeranAutomation LandscapeWelcome to my Podcast on Automation Landscape !
I'm passionate about Automation and I speak all about it in a simplified way to make anyone understand it from a non-background to COE level.
All the episodes are having a blend of my rich experiences and knowledge in this space. You can reach me in my email id for any important things: mydearkarthikeyan@gmail.com
All my episodes are recorded in High Definition and processed in Dolby for the better-quality listening over the phone or in the large speakers. My Podcast is available in many dis...
2022-01-0608 min