Hi Professor. I am really waiting for your videos about hyperledger fabric and everything about it (how to install and work in it). Please tell me when you will cover that topic.
thank you, i want to know , if i have an smart home and i need to communicate with multiple devises over using smart phone application, what the type of ledger can i use to save the transactions without any one can see it (only the members of family in a house can see it, where each member has username & password to login)
disambiguation: Bitcoin does NOT store balance information ... it stores only bitcoins transactions ... in order to find out the balance you need to process the entire ledger.
I'd like to understand what information can actually be extracted from a ledger. Do I have to imagine this like everyone's bank statements being public? Could someone make a list of all the transactions that one account was involved in? Could you identify the account owners?
Public ledger can be seen by everyone and yes you can image it as bank statements. To know ALL your transactions is quite difficult. If you have a bitcoin wallet it can contain thousands of addresses. These addresses are unrelated to each other (from outsider point of view) and if you use each time a different address for receiving and sending a transaction it makes it difficult to trace your transactions. But if i know one transaction you have made i can of course follow the history of that specific transaction. That tx is funded by another tx which i can follow etc. The answer is yes and no depending how you use your addresses. An address on itself i can not identify who owns it. But lets say you buy some bitcoin at an exchange, you have to give them your bitcoin address and probably your visa card info. Now they know the account owner of that bitcoin address. If you make txs with that address they can follow it. The same applies when you convert bitcoin back to fiat currency. If you have published your bitcoin address on your website, i know that you own that address i can follow that address and the transactions made from that address, etc.
+Mobilefish.com Thank you for clarifying. So IF my address would somehow become public after I shared it with someone who wanted to pay me, then anyone could retrace with whom else I have had a Tx with. Sounds like a great research tool... Not as anonymous as everyone makes it sound... I don't get how Bitcoin supposedly is the currency of choice for criminals.
1 I think a Ledger is like a register 2 in which each page is Like a block 3 multiple blocks make a blockchain 4 each block can contain 500 transactions 5 it means a ledger can contain multiple Blockchains, and a blockchain contains a group of blocks 6 and last but not the least, distributed ledger doesn't mean there are lots of ledger, it means there is only a single ledger but every node/miner has its copy...... There is only one ledger 7 I m learning Blockchain technology guide me please if some where I m wrong, your assistance would be much appreciated
That was actually very simiple and to the point! thanks!
Great job!! Very easy to understand. Thanks.
Well explained, thanks!
Hi Professor. I am really waiting for your videos about hyperledger fabric and everything about it (how to install and work in it). Please tell me when you will cover that topic.
Keep it up 👍
thank you, i want to know , if i have an smart home and i need to communicate with multiple devises over using smart phone application, what the type of ledger can i use to save the transactions without any one can see it (only the members of family in a house can see it, where each member has username & password to login)
Thanks man !
hi, i'm interested on a
distributed blockchain ledger for supply chain
disambiguation: Bitcoin does NOT store balance information ... it stores only bitcoins transactions ... in order to find out the balance you need to process the entire ledger.
How can we make ledger diagrams for these blockchains
I'd like to understand what information can actually be extracted from a ledger. Do I have to imagine this like everyone's bank statements being public? Could someone make a list of all the transactions that one account was involved in? Could you identify the account owners?
Public ledger can be seen by everyone and yes you can image it as bank statements.
To know ALL your transactions is quite difficult. If you have a bitcoin wallet it can contain thousands of addresses. These addresses are unrelated to each other (from outsider point of view) and if you use each time a different address for receiving and sending a transaction it makes it difficult to trace your transactions. But if i know one transaction you have made i can of course follow the history of that specific transaction. That tx is funded by another tx which i can follow etc. The answer is yes and no depending how you use your addresses.
An address on itself i can not identify who owns it. But lets say you buy some bitcoin at an exchange, you have to give them your bitcoin address and probably your visa card info. Now they know the account owner of that bitcoin address. If you make txs with that address they can follow it. The same applies when you convert bitcoin back to fiat currency.
If you have published your bitcoin address on your website, i know that you own that address i can follow that address and the transactions made from that address, etc.
+Mobilefish.com Thank you for clarifying. So IF my address would somehow become public after I shared it with someone who wanted to pay me, then anyone could retrace with whom else I have had a Tx with. Sounds like a great research tool... Not as anonymous as everyone makes it sound... I don't get how Bitcoin supposedly is the currency of choice for criminals.
Do you program?
I am a software developer
1 I think a Ledger is like a register
2 in which each page is Like a block
3 multiple blocks make a blockchain
4 each block can contain 500 transactions
5 it means a ledger can contain multiple Blockchains, and a blockchain contains a group of blocks
6 and last but not the least, distributed ledger doesn't mean there are lots of ledger, it means there is only a single ledger but every node/miner has its copy...... There is only one ledger
7 I m learning Blockchain technology guide me please if some where I m wrong, your assistance would be much appreciated