The purpose of this section is to provide more clarity on some important blockchain terms. I express why and what these terms mean. They are not at all absolute definitions, but they do make sense for me, and I hope for you too. Huge tahnk you to my friend Nicolas, for him help and support to provide a quality content.
A blockchain records transactions into blocks that are linked by a cryptographic hash of the previous block, timestamp and transaction data. See hashes as a red line to connects all blocks in a blockchain. This line ensure the data integrity and immutability of each blocks in a blockchains. A cryptographic hash is a mathematical reduction of a string, so that one hash of a string will always be the same. ...
In our internet world, all is a question of transferring, sharing, and consuming data. It’s the same for our blockchain ecosystem, whether for sending a transaction or showing a price of assets in real time, which is enabled by different types and ways to achieve this data. In the event that different blockchains exist with their own logics and can’t communicate with each other. Create a communication system that enables the exchange and sharing of data, creating a bigger network effect of innovations. It’s like connecting two parts of a city, separated by a big river. ...
Many blockchains operate independently and have no way of communicating with other blockchains. At a high level, communication between blockchains is important to avoid isolating ecosystems and creating excessive bottlenecks or suffocation. Moreover, that opens the door for more research and leads to cross-innovations between systems. The purpose of the existence of a bridge is to solve the problem of interoperability between blockchains. See bridge as the ‘how’ the problem statement of interoperability - ‘why’ - can be executed. ...
We know a blockchain records transactions into blocks that are linked by a cryptographic hash of the previous block. Let’s focus on the transaction word and see how it’s work. Why are message, transaction and signature in blockchain, and what are their relations? Imagine asking for or ordering a bank transfer for a friend: You need to provide your intent and the necessary data, such as ‘amount requested’ => message You need to send your intent in understandable words and provide the sender and receiver of the order => transaction the institution who execute, it needs to understand and ensure the transaction is legitimate => signature Let’s compare it with what happens when users initiate an interaction with a blockchain. ...