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What was the first cryptocurrency developed using blockchain technology?
Bitcoin
Blockchain technology was first introduced in 2008.
True
Which of the following sectors has potential use-cases for blockchain technology? (Select all that apply)
Blockchain technology ensures _ and _ throughout the supply chain ecosystem.
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What is the role of a node in a blockchain network?
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Blockchain records transactions in a centralized manner.
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Which hashing algorithm is commonly used in many blockchains?
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What happens when data is altered in a blockchain?
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Apa yang dimaksud dengan teknologi blockchain?
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Siapa yang memperkenalkan bitcoin dan teknologi blockchain?
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Apa fungsi dari kunci publik dalam sistem blockchain?
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Apa yang dimaksud dengan hash dalam konteks blockchain?
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Blockchain hanya dapat digunakan untuk transaksi keuangan.
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Sebutkan salah satu algoritma hash yang umum digunakan dalam blockchain.
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Apa yang terjadi jika data diubah pada satu pihak dalam blockchain?
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Apa yang dimaksud dengan blok dalam teknologi blockchain?
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Study Notes
Blockchain Technology Introduction
- Blockchain technology was introduced in 2008 by Satoshi Nakamoto as a peer-to-peer electronic payment system.
- The first fully distributed cryptocurrency, Bitcoin, was developed using this technology.
- Blockchain has expanded beyond cryptocurrencies, finding potential applications in various sectors like finance, healthcare, energy, government, and manufacturing.
- Blockchain's integration with other technologies provides transparency and traceability, improving business transactions in the supply chain ecosystem.
What is Blockchain?
- Blockchain is a system for recording transactions (using computer programs and algorithms).
- Transactions are recorded sequentially, referencing previous records.
- These records are secured with cryptography (passwords).
- Transaction records are shared among all relevant parties (peers).
- This ensures a shared and unmodifiable view of the transaction log.
Blockchain: A Secure, Transparent, and Traceable System
- Secure: The cryptographic security of the blockchain prevents unauthorized manipulation.
- Transparent: All participants share access to the same ledger, ensuring transparency of transactions.
- Traceable: The sequential record-keeping allows for tracking the complete history of transactions.
Centralized vs. Distributed Ledgers
- Centralized Ledger: A single entity controls access and management of the ledger.
- Distributed Ledger: Many participants are involved in maintaining and verifying the ledger.
Key Blockchain Components
- Blocks: Contains a bundle of transactions, a hash, and the hash of the previous block.
- Nodes: Each computer connected to the blockchain network is a node. Nodes validate and distribute new transactions.
- Public and Private Keys: Public keys encrypt messages/transactions, while private keys decrypt encrypted messages and sign transactions.
Hashing in Blockchain
- A hash is a unique code generated from encrypted data.
- It typically comprises random letters and numbers.
- Hashing secures blockchain data by ensuring any data change results in a different hash.
- This prevents unauthorized data manipulation.
- SHA-256 is a widely used cryptographic algorithm generating 256-bit hash values, often used in blockchain.
Blockchain Illustration
- The blockchain consists of linked blocks, each representing a set of transactions.
- Each block contains the previous block's hash, ensuring integrity and traceability.
- The first block is known as the "Genesis Block".
Consequences of Data Alteration
- Altering data in one block affects the entire blockchain, changing the hash.
- The altered hash disrupts the chain of hashes, highlighting the data alteration.
- This ensures that any attempted manipulation is immediately detectable.
Importance of Blockchain Hash
- Each block has a unique, verifiable hash value.
- Each node can calculate this hash independently, validating the blockchain's integrity.
- The immutable hash values make blockchain tamper-proof and transparent.
Introduction
- Blockchain technology was first introduced in 2008 by Satoshi Nakamoto.
- It was originally developed as a peer-to-peer electronic cash system for Bitcoin, a cryptocurrency.
- Blockchain's potential applications now extend beyond finance, encompassing healthcare, energy, government and manufacturing.
- Blockchain integration with other technologies enables comprehensive data capture (transparency) and operational insights (traceability) across the supply chain.
- It also optimizes business transactions and strengthens relationships between supply chain stakeholders.
What is Blockchain?
- It is a system for recording transactions using sophisticated computer programs and algorithms.
- Transaction records are compiled sequentially, referencing previous records.
- These records are secured with passwords (cryptography).
- The records are shared with all parties involved, providing a transparent and secure system.
Blockchain: A Secure, Transparent and Traceable Recording System
- In contrast to centralized ledgers that can be manipulated by a single entity, Blockchain is decentralized.
- Each transaction is recorded chronologically, providing a transparent history.
- With its built-in security, data is protected from unauthorized access, making the system tamper-proof.
- Blockchain enhances data authenticity and integrity in the supply chain.
Key Components of Blockchain
- Blocks: Contain a set of transactions (data), a hash, and a hash from the previous block.
- Nodes: Computers connected to the Blockchain network. Nodes verify and transmit new transactions.
- Public and Private Keys: Public keys are used to encrypt messages or transactions, while private keys decrypt messages or sign transactions.
How Hashing Works in Blockchain
- A hash is a unique code generated through encryption, a combination of letters and random numbers.
- It secures data in blocks, ensuring that any change to the data will result in a different hash.
- This prevents unauthorized manipulation or alteration.
- SHA-256 is a common cryptographic hash algorithm used in many blockchains, generating a 256-bit hash value.
Understanding Blockchain Illustration
- Blockchain consists of interconnected blocks, each with a unique hash.
- The first block is called the "Genesis Block", and it has a hash of "0000".
- Each subsequent block contains a hash of the previous block, creating a chain of interconnected records.
Data Modification on Blockchain
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Any attempt to modify data in a block will result in a new hash value.
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This new hash will be different from the hash value of the preceding block, triggering an alert.
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The discrepancy in hash values will signal a potential tampering attempt, ensuring data authenticity.
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The security and transparency features of Blockchain make it suitable for application in various sectors, particularly in supply chain management.
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Description
Explore the foundational concepts of blockchain technology, introduced in 2008 by Satoshi Nakamoto. This quiz covers its application in various sectors beyond cryptocurrency, along with the mechanics of recording and securing transactions. Test your understanding of blockchain's impact on transparency and traceability in business transactions.
