Watts Kendall

Watts Kendall

1551510387

What happens if a node successfully generates a new block but then goes offline or disconnected from the Blockchain?

Considering a miner has successfully generated a new block by solving the mathematical puzzle. What would happen if it goes offline or disconnected from other participating nodes in the Blockchain before it could broadcast the new block and sync with the other nodes in the Blockchain?

If I consider the case of a resync after the node is live again, how is that possible since blockchain is a growing list of blocks? Also I am assuming the block is invalid after successive blocks are created after it.

#blockchain

What is GEEK

Buddha Community

Tubo Man

1551515935

If the miner solved the block then that block solution remains valid so long as:

  1. Any of the transactions in that block are not mined and propagated before the miner regains connection and broadcasts the block. A transaction cannot be double spent, and since the block solution (the block hash) commits to the transaction merkle root, it cannot be removed without rebuilding the merkle root and solving the hash again.
  2. None of the transaction outputs that were spent by transactions in the miner’s block are spent by other transactions in other blocks mined while they were away. Number 1 is really a subset of this, but it is slightly different.
  3. The block timestamp is within the valid range (in Bitcoin, the timestamp cannot be greater than 2 hours from the current network time, and cannot be earlier than the median time of the past 11 blocks).
Watts Kendall

Watts Kendall

1551510387

What happens if a node successfully generates a new block but then goes offline or disconnected from the Blockchain?

Considering a miner has successfully generated a new block by solving the mathematical puzzle. What would happen if it goes offline or disconnected from other participating nodes in the Blockchain before it could broadcast the new block and sync with the other nodes in the Blockchain?

If I consider the case of a resync after the node is live again, how is that possible since blockchain is a growing list of blocks? Also I am assuming the block is invalid after successive blocks are created after it.

#blockchain

Lyly Sara

Lyly Sara

1551667126

What happens if a node successfully generates a new block but then goes offline or disconnected from the Blockchain?

Considering a miner has successfully generated a new block by solving the mathematical puzzle. What would happen if it goes offline or disconnected from other participating nodes in the Blockchain before it could broadcast the new block and sync with the other nodes in the Blockchain?

If I consider the case of a resync after the node is live again, how is that possible since blockchain is a growing list of blocks? Also I am assuming the block is invalid after successive blocks are created after it.

I came across a close enough question on SO but it appears to have some lack of clarity.

#blockchain

Devin Pinto

1606217442

Blockchain Certification | Blockchain Training Course | Blockchain Council

In all the market sectors, Blockchain technology has contributed to the redesign. The improvements that were once impossible have been pushed forward. Blockchain is one of the leading innovations with the ability to influence the various sectors of the industry. It also has the ability to be one of the career-influencing innovations at the same time. We have seen an increasing inclination towards the certification of the Blockchain in recent years, and there are obvious reasons behind it. Blockchain has everything to offer, from good packages to its universal application and futuristic development. Let’s address the reasons why one should go for Blockchain certification.

5 advantages of certification by Blockchain:

1. Lucrative packages- Everyone who completes their education or upskills themselves wants to end up with a good bundle, not only is one assured of a good learning experience with Blockchain, but the packages are drool-worthy at the same time. A Blockchain developer’s average salary varies between $150,000 and $175,000 per annum. Comparatively, a software developer gets a $137,000 per year salary. For a Blockchain developer, the San Francisco Bay area provides the highest bundle, amounting to $162,288 per annum. There’s no point arguing that learning about Blockchain is a smart decision with such lucrative packages.

2. Growing industry- When you select any qualification course, it becomes important that you choose a growing segment or industry that promises potential in the future. You should anticipate all of these with Blockchain. The size of the blockchain market is expected to rise from USD 3.0 billion in 2020 to USD 39.7 billion by 2025. This will see an incredible 67.3 percent CAGR between 2020-2025. To help business processes, several businesses are outsourcing Blockchain technologies. This clearly demonstrates that there will be higher demand in the future for Blockchain developers and certified Blockchain professionals.

3. Universal application- One of the major reasons for the success of Blockchain is that it has a global application. It is not sector-specific. Blockchain usage cases are discovered by almost all market segments. In addition, other innovations such as AI, big data, data science and much more are also supported by Blockchain. It becomes easier to get into a suitable industry once you know about Blockchain.

**4. Work protection-**Surely you would like to invest in an ability that ensures job security. You had the same chance for Blockchain. Since this is the technology of the future, understanding that Blockchain can keep up with futuristic developments will help in a successful and safe job.

**5.**After a certain point of your professional life, you are expected to learn about new abilities that can help enhance your skills. Upskilling is paramount. Upskilling oneself has become the need for the hour, and choosing a path that holds a lot of potential for the future is the best way to do this. For all computer geeks and others who want to gain awareness of emerging technology, Blockchain is a good option.

Concluding thoughts- opting for Blockchain certification is a successful career move with all these advantages. You will be able to find yourself in a safe and secured work profile once you have all the knowledge and information. Link for Blockchain certification programme with the Blockchain Council.

#blockchain certificate #blockchain training #blockchain certification #blockchain developers #blockchain #blockchain council

5 Blockchain Applications That Have Transformed the World of Technology

The blockchain is the decentralized database of the blocks of information, which gets recorded in the chain format and linked in a secured crypto graphical manner. This technology ensures proper safety of the data due to its secure nature, and it totally changes how people carry out transactions. It also brings about a faster and secure process of validating information needed to establish reliability.

Though blockchain technology came into the market to carry out only digital transactions, it is now used in various industries like supply chain, finance, health care, and many more.

The blockchain technology has made its position in mobile app development as well. Blockchain applications are transparent and accountable. From getting easy access to medical records and buying insurance, you can see blockchain applications everywhere.

Here are some of the areas where you can see the use of blockchain applications and how they have changed various industries.

1. Ripple

Ripple is useful for increasing banking transactions. The implementation of blockchain technology in the financial sector is much more profound than any other sector. Ripple proves this. It is one of the greatest tools to record and complete financial transactions.

It develops a large network despite strict physical boundaries. As there is no such third-party involvement present, the cost of these transactions is lower than usual. At the same time, the network also remains transparent and quite secured.

It is normally seen that financial transactions that happen globally are

error-prone and take a lot of time. In addition to this, when the transaction

fees and exchange rates get added up, the total cost usually gets high.

However, Ripple offers real-time international transactions without spending too much money. It has the network of about 200+ institutions making the process affordable, secure, and fast for all sorts of international transactions.

2. Etherisc

This blockchain application helps in automating flight insurance. Insurance is another area where blockchain is gaining popularity. Through this application, insurers can make smart contracts rather than getting involved in the traditional contracts that are usually complex. Etherisc is the blockchain application that helps customers buy flight insurance. If the flight gets canceled or delayed, they do not have to wait for months to get the payment back. This application ensures an on-time payout.

#blockchain #blockchain-technology #blockchain-development #blockchain-use-cases #blockchain-a #blockchain-technologies #technology #decentralization

Giles  Goodwin

Giles Goodwin

1596912840

Understanding The Block Propagation Problem in Blockchains

The lack of scalability is known to be the foremost obstacle standing in the way of mass adoption of blockchain technology. All existing blockchain projects look for solutions that could improve the performance of their network.

Many emerging projects claim that they have a magic bullet that could solve the problem. However, such assertions are not always valid. Unfortunately, many observers and investors do not realize the core and root of this problem.

Without deep investigation and considerable technical background, it’s difficult to determine hidden bottlenecks and trade-offs. In this post, we are going to discuss one well-known bottleneck that prevents Bitcoin from scaling.

Shortly after the invention of decentralized peer-to-peer network Bitcoin, researchers got interested in what determines the limits of Bitcoin’s scaling. Soon the core issue was determined and described in terms of block propagation time or block propagation delay.

It’s an average time that is needed for the new block to reach the majority of nodes in the network. In a large decentralized network like Bitcoin, whenever the new block is generated, it is broadcasted according to the Gossip protocol. If some node has got the new valid block, it informs nodes connected to it about its new possession.

Then the node transfers this block to those nodes which asked it to do that. Before the block reaches each full-node in the network, it passes through 7 intermediary nodes. It’s important that every honest node verifies the block before relaying it to other peers.

Obviously, the whole thing takes a while. Every new block shakes the network and makes nodes and ethernet connections between them work at full power.

One might argue that since the launch of the network, there have been many improvements to the Gossip protocol. For example, the Bitcoin improvement proposal BIP 0152 introduced the option to transfer only short transaction IDs, instead of the whole list of transactions, in the block body.

However, if the node doesn’t have that transaction in its mempool, it has to ask its peers to transfer it in a separate message. If there is a large number of such transactions in the block, then improvement from BIP 0152 disappears.

Since data transmission is the most time-consuming part of the block relay, researchers got interested in determining how much time is required for a data packet of a certain size to reach 50%, 90%, or 95% of nodes in the network.

It was found that for blocks of a size larger than 20kB, the block propagation delay is nearly proportional to the block size. According to research published in 2013, every extra kB of data in the block caused an extra 80ms of block propagation delay.

Since then, a couple of academic papers and surveys on this topic have been published every year. They update the aforementioned data and discuss various improvement proposals.

Moreover, the site monitors the current state of the Bitcoin network and the block propagation time. Also, it provides charts with historical data on this subject.

The majority of well-established blockchain networks have the same design as Bitcoin. As a result, the block propagation time in these networks obeys the same rules.

Unfortunately, the block propagation time has a massive effect on the blockchain security. The longer the propagation time in the network, the more often miners mine on top of old blocks.

As a result, the forking of the main chain occurs more often, and the percentage of orphan blocks rises. The long propagation delay leads to the so-called Verifiers Dilemma.

Some nodes may find that skipping the block verification step could be a profitable strategy. In this case, they face the risk of mining on top of the wrong block.

However, if block verification time is significant, this strategy could be profitable. Researchers found that long propagation delay reduces the node’s resistance against 51% attacks and selfish mining.

#blockchain #blockchain-development #block-propagation #jax-network #blockchain-scalability #latest-tech-stories #scalability #blockchain-scalability-test