From the course: Building an Ethereum Blockchain App: 1 Introduction to Blockchain
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Arriving at consensus - Ethereum Tutorial
From the course: Building an Ethereum Blockchain App: 1 Introduction to Blockchain
Arriving at consensus
- Blockchain is all about integrity and trust. So you don't have integrity if any node can just add a block at any time. So you have to agree, by you, I mean, all the nodes have to agree on what the valid blockchain is and which blocks are valid. So all the nodes have to agree on which new blocks can be added. They do that through a consensus mechanism. They come to consensus because blockchain is purely democratic. In other words, when anything over 50% of the nodes agree, that becomes the rule. So all you have to have is 50.000001 number of the nodes to agree that a block should be added and all the block, all the nodes have to agree to add that block. So the downside of that is that it's possible to attack a blockchain. If you can somehow take over and control just over 50% of the node, you can do what you want, but that's very, very difficult. Let's not worry about the attacks right now. Let's focus on…
Contents
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The beginning of blockchain5m
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Currency and cryptocurrency4m 49s
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Why use the blockchain?5m 47s
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Blockchain data and blocks6m 2s
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Blockchain immutability2m 55s
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Blockchain consensus2m 6s
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Building the blockchain story3m 1s
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Hashes6m 23s
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What is a chain of blocks?3m 58s
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Finding the nonce5m 16s
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Blockchain mining3m 22s
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Arriving at consensus5m 27s
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Public vs. private blockchains3m 10s
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Distributed processing and blockchain solutions5m 35s
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