title
Blockchain Full Course - 4 Hours | Blockchain Tutorial |Blockchain Technology Explained |Simplilearn

description
🔥 IITM Pravartak Professional Certificate Program In Full Stack Development - MERN (India Only): https://www.simplilearn.com/full-stack-developer-course-and-certification-iitm-pravartak?utm_campaign=SCE-FullstackIITM&utm_medium=DescriptionFF&utm_source=youtube 🔥Post Graduate Program In Full Stack Web Development: https://www.simplilearn.com/pgp-full-stack-web-development-certification-training-course?utm_campaign=Blockchain-SyVMma1IkXM&utm_medium=Descriptionff&utm_source=youtube 🔥Caltech Coding Bootcamp (US Only): https://www.simplilearn.com/coding-bootcamp?utm_campaign=Blockchain-SyVMma1IkXM&utm_medium=Descriptionff&utm_source=youtube This Blockchain Tutorial Full Course will help you understand all the basic concepts of Blockchain. Do not forget to answer the quiz at 6:46. This Blockchain tutorial will help you understand what is Blockchain, explain the Bitcoin story, features of Blockchain which includes a public distributed ledger, hash encryption, proof of work, mining, and at the end you will also see a use case on how banks are using Blockchain in validating user identities. 🔥 Enroll for FREE Blockchain Course & Get your Completion Certificate: https://www.simplilearn.com/learn-blockchain-basics-skillup?utm_campaign=Blockchain&utm_medium=Description&utm_source=youtube Below topics are explained in this Blockchain tutorial: Blockchain Tutorial Introduction - 0:00 Why we need Blockchain - 07:45 What are Bitcoin and Blockchain? - 09:19 How does Blockchain work? - 12:49 Features of Blockchain - 13:39 Who uses Blockchain? - 24:39 What is Blockchain? - 33:49 Use Case: Blockchains and Banks - 50:29 Ethereum - 01:26:45 Features of Ethereum - 1:27:14 Cryptocurrency - 1:27:54 Smart Contract - 1:28:44 Ethereum Virtual Machine - 1:33:14 Ethereum Virtual Machine- Gas - 1:37:44 Applications of Ethereum - 1:44:54 Why smart contract? - 1:54:14 What is a smart contract? - 1:58:14 Advantages of smart contract - 2:02:44 Use case - Crowdfunding smart contract- 2:13:44 What is Bitcoin - 2:18:42 Advantages of Bitcoin - 2:19:24 What is Blockchain? - 2:20:14 Concepts of bitcoin Mining - 2:22:34 Blockchain Wallet - 2:35:34 Why Blockchain wallet - 2:35:54 How do Blockchain wallets work? - 2:38:14 Features of Blockchain wallet - 2:40:54 Types of Blockchain wallets - 2:41:34 Software wallet - 2:43:24 Types of software wallets - 2:43:41 Software wallet- Desktop wallet - 2:43:51 Software wallet- Online wallet - 2:44:41 Software wallet- Mobile wallet - 2:45:21 Hardware wallet - 2:45:41 Paper wallet - 2:46:21 Blockchain wallets comparison - 2:47:11 Bitcoin VS Ethereum - 02:57:06 Industries that Blockchain will disrupt - 3:02:31 Banking - 3:02:41 Cyber Security - 3:04:00 Supply chain Management - 3:05:00 Blockchain Applications - 3:13:51 Supply chain management - Before blockchain - 3:14:41 Supply chain management - 3:15:11 Cyber security - Before blockchain - 3:16:41 Cyber security - 3:17:00 Cyber security - Using blockchain - 3:17:31 Who is a Blockchain developer? - 3:21:41 What are the types of Blockchain developers? - 3:22:11 How do you become a Blockchain developer? - 3:23:21 Interview Questions - 03:33:13 To learn more about Blockchain, subscribe to our YouTube channel: https://www.youtube.com/user/Simplilearn?sub_confirmation=1 Watch more videos on Blockchain: https://www.youtube.com/playlist?list=PLEiEAq2VkUUKmhU6SO2P73pTdMZnHOsDB #Whatisblockchain #Blockchain #Blockchaintutorial #Bitcoin #Blockchainonlinetraining #Blockchainforbeginners #BlockchainTechnology #Simplilearn ➡️ Post Graduate Program In Full Stack Web Development This program will give you the foundation for building full stack web apps using the Java programming language. ✅ Key Features Caltech CTME Post Graduate Certificate Enrolment in Simplilearn’s JobAssist Receive upto 25 CEUs from Caltech CTME Simplilearn's JobAssist helps you get noticed by top hiring companies Masterclasses taught by Caltech CTME instructor 8X higher interaction in live online classes conducted by industry experts Online Convocation by Caltech CTME Program Director 20 lesson-end and 5 phase-end projects Capstone Project in 4 domains Caltech CTME Circle Membership Build your own portfolio on GitHub ✅ Skills Covered - Agile - JAVA - Hibernate and JPA - Spring Core 50 - DevOps - HTML5 and CSS3 - AWS - JavaScript - ES6Servlets - SOAP and REST - JSP 👉Learn More at: https://www.simplilearn.com/pgp-full-stack-web-development-certification-training-course?utm_campaign=Blockchain-SyVMma1IkXM&utm_medium=Description&utm_source=youtube 🔥🔥 Interested in Attending Live Classes? Call Us: IN - 18002127688 / US - +18445327688

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{'title': 'Blockchain Full Course - 4 Hours | Blockchain Tutorial |Blockchain Technology Explained |Simplilearn', 'heatmap': [{'end': 1311.035, 'start': 580.882, 'weight': 0.947}, {'end': 2620.727, 'start': 2469.442, 'weight': 0.735}, {'end': 2913.823, 'start': 2763.694, 'weight': 0.85}, {'end': 4223.753, 'start': 4076.497, 'weight': 0.711}], 'summary': 'This 4-hour blockchain tutorial covers comprehensive aspects including cryptocurrency types, ethereum, bitcoin mining, industry disruptions, banking system vulnerabilities, blockchain fundamentals, applications in banks, smart contracts, ethereum, bitcoin mining process, blockchain wallets, technology insights, and blockchain evolution, providing insights into the job market, certification training, and use cases in various industries.', 'chapters': [{'end': 540.509, 'segs': [{'end': 52.042, 'src': 'embed', 'start': 24.687, 'weight': 0, 'content': [{'end': 30.573, 'text': "First off, we'll go through a short animated introduction to blockchain, followed by a tutorial on how blockchain works.", 'start': 24.687, 'duration': 5.886}, {'end': 37.481, 'text': "We'll then teach you about what a cryptocurrency is and the different types of cryptocurrencies in the market available to you.", 'start': 31.354, 'duration': 6.127}, {'end': 42.214, 'text': "Next, we'll teach you about Ethereum and how smart contracts work.", 'start': 38.331, 'duration': 3.883}, {'end': 47.318, 'text': 'Then, you will learn about the process of Bitcoin mining and how Bitcoin wallets work.', 'start': 42.794, 'duration': 4.524}, {'end': 52.042, 'text': "After that, we'll look into how Ethereum and Bitcoin are different from each other.", 'start': 48.039, 'duration': 4.003}], 'summary': 'Introduction to blockchain, cryptocurrency, ethereum, bitcoin, and their differences.', 'duration': 27.355, 'max_score': 24.687, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM24687.jpg'}, {'end': 107.211, 'src': 'embed', 'start': 79.872, 'weight': 2, 'content': [{'end': 82.855, 'text': "With that out of the way, let's look at our animated video.", 'start': 79.872, 'duration': 2.983}, {'end': 91.081, 'text': "Ever wonder if there's an easier way to complete transactions without having to deal with online wallets, banks and third-party applications?", 'start': 83.435, 'duration': 7.646}, {'end': 94.024, 'text': "Well, it's possible thanks to blockchain.", 'start': 91.341, 'duration': 2.683}, {'end': 96.546, 'text': "Here's everything you need to know about blockchain.", 'start': 94.224, 'duration': 2.322}, {'end': 98.107, 'text': 'Imagine four friends.', 'start': 96.946, 'duration': 1.161}, {'end': 101.688, 'text': 'Jack, Ted, Sam, and Phil meet up for dinner.', 'start': 98.527, 'duration': 3.161}, {'end': 107.211, 'text': "After they're done, Jack pays the bill, and all of them decide to split the expense amongst each other.", 'start': 101.928, 'duration': 5.283}], 'summary': 'Blockchain enables easier transactions without online wallets or banks, as demonstrated by four friends splitting a dinner bill.', 'duration': 27.339, 'max_score': 79.872, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM79872.jpg'}, {'end': 333.74, 'src': 'embed', 'start': 309.991, 'weight': 1, 'content': [{'end': 318.014, 'text': "First, Phil passes the number of Bitcoins he wants to send to Jack, along with his and Jack's unique wallet address through a hashing algorithm.", 'start': 309.991, 'duration': 8.023}, {'end': 321.156, 'text': 'All of this is part of the transaction details.', 'start': 318.455, 'duration': 2.701}, {'end': 327.338, 'text': "These details are encrypted using encryption algorithms and using Phil's unique private key.", 'start': 321.576, 'duration': 5.762}, {'end': 333.74, 'text': 'This is done to digitally sign the transaction and to indicate that the transactions came from Phil.', 'start': 327.718, 'duration': 6.022}], 'summary': 'Phil sends bitcoins to jack using encryption and digital signature.', 'duration': 23.749, 'max_score': 309.991, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM309991.jpg'}], 'start': 5.313, 'title': 'Blockchain and its revolution', 'summary': 'Covers a comprehensive tutorial on blockchain, including an introduction to blockchain, cryptocurrency types, ethereum, bitcoin mining, industry disruptions, popular applications, and becoming a blockchain developer. it also explains the role of blockchain in revolutionizing transactions, its benefits, and potential applications in various industries, emphasizing its pivotal role in enhancing security and efficiency in transactions.', 'chapters': [{'end': 79.172, 'start': 5.313, 'title': 'Complete blockchain tutorial', 'summary': "Covers a comprehensive tutorial on blockchain, including an introduction to blockchain, cryptocurrency types, ethereum, bitcoin mining, industry disruptions, popular applications, and becoming a blockchain developer, presented by industry expert saurav with over 5 years of experience. the tutorial also includes 10 things you probably didn't know about bitcoin and 30 important questions for a blockchain interview.", 'duration': 73.859, 'highlights': ['Saurav, the industry expert, with over 5 years of experience will guide on a comprehensive tutorial on blockchain.', 'The tutorial includes an animated introduction to blockchain, followed by explanations on how blockchain works, types of cryptocurrencies, Ethereum, and smart contracts.', 'The chapter covers the process of Bitcoin mining, Bitcoin wallets, differences between Ethereum and Bitcoin, 5 industries blockchain will disrupt, and 10 lesser-known facts about Bitcoin.', 'The tutorial also discusses popular applications of blockchain, the pathway to becoming a blockchain developer, and 30 important questions for a blockchain interview.', 'Viewers are encouraged to subscribe to the channel and click on the bell icon for updates from Simply Learn.']}, {'end': 540.509, 'start': 79.872, 'title': 'Blockchain: revolutionizing transactions', 'summary': 'Explains the concept of blockchain, its role in revolutionizing transactions, and the benefits it offers, such as immunity to counterfeiting and protection against unauthorized access. it also delves into the bitcoin transaction process and the importance of blockchain in addressing the limitations of traditional banking systems, while highlighting the benefits of cryptocurrencies and the potential applications of blockchain in various industries. the chapter also introduces key concepts such as sha-256 encryption, public and private key, distributed public ledger, proof of work, and mining, emphasizing the pivotal role of blockchain in enhancing security and efficiency in transactions.', 'duration': 460.637, 'highlights': ['Blockchain ensures data cannot be altered by any users within the network through the concept of a public distributed ledger. The concept of a public distributed ledger ensures that data within the blockchain remains unalterable by any users within the network, enhancing security and trust in transactions.', 'Cryptocurrencies, enabled by blockchain, are immune to counterfeiting, do not require a central authority, and are protected by strong and complex encryption algorithms. Blockchain technology enables cryptocurrencies to be immune to counterfeiting and not reliant on a central authority, providing enhanced security and protection through complex encryption algorithms.', "Bitcoin, a prominent cryptocurrency, utilizes blockchain to facilitate secure and transparent transactions, emphasizing the pivotal role of blockchain in revolutionizing traditional banking systems. Bitcoin's utilization of blockchain for secure and transparent transactions showcases the transformative impact of blockchain on traditional banking systems, emphasizing its role in enhancing security and efficiency in financial transactions.", 'Introduction to key concepts such as SHA-256 encryption, public and private key, distributed public ledger, proof of work, and mining, emphasizing the pivotal role of blockchain in enhancing security and efficiency in transactions. The introduction of key concepts such as SHA-256 encryption, public and private key, distributed public ledger, proof of work, and mining highlights the pivotal role of blockchain in enhancing security and efficiency in transactions.']}], 'duration': 535.196, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM5313.jpg', 'highlights': ['The tutorial includes an animated introduction to blockchain, types of cryptocurrencies, Ethereum, and smart contracts.', 'The chapter covers the process of Bitcoin mining, Bitcoin wallets, differences between Ethereum and Bitcoin, 5 industries blockchain will disrupt, and 10 lesser-known facts about Bitcoin.', 'Blockchain ensures data cannot be altered by any users within the network through the concept of a public distributed ledger.', 'Cryptocurrencies, enabled by blockchain, are immune to counterfeiting, do not require a central authority, and are protected by strong and complex encryption algorithms.', 'Bitcoin, a prominent cryptocurrency, utilizes blockchain to facilitate secure and transparent transactions, emphasizing the pivotal role of blockchain in revolutionizing traditional banking systems.']}, {'end': 1510.011, 'segs': [{'end': 1315.118, 'src': 'heatmap', 'start': 560.77, 'weight': 5, 'content': [{'end': 567.093, 'text': 'Bitcoin is a digital currency which is used to send and receive money across the world.', 'start': 560.77, 'duration': 6.323}, {'end': 575.558, 'text': "It is a barrier-free currency in a decentralized manner with minimum transfer fee, or we can say it's gonna be relatively very,", 'start': 567.293, 'duration': 8.265}, {'end': 578.119, 'text': 'very less as compared to what bank charges.', 'start': 575.558, 'duration': 2.561}, {'end': 580.602, 'text': "It doesn't involve a third party.", 'start': 578.599, 'duration': 2.003}, {'end': 584.406, 'text': 'No intermediaries are involved, thereby reducing the cost of transaction.', 'start': 580.882, 'duration': 3.524}, {'end': 587.209, 'text': 'Fast and cheap transfer is possible.', 'start': 584.586, 'duration': 2.623}, {'end': 588.871, 'text': 'Personal information.', 'start': 587.529, 'duration': 1.342}, {'end': 597.781, 'text': 'identity of a user is hidden and all the transactions are cryptographically secure, as they are being signed using your private key.', 'start': 588.871, 'duration': 8.91}, {'end': 605.988, 'text': 'Bitcoin does this by storing and transacting the money over a distributed peer-to-peer network called blockchain.', 'start': 598.121, 'duration': 7.867}, {'end': 614.215, 'text': 'So. therefore, it becomes very important for us, in order to understand if how Bitcoin works, we also need to understand what is blockchain,', 'start': 606.108, 'duration': 8.107}, {'end': 616.737, 'text': 'because that is the underlying technology.', 'start': 614.215, 'duration': 2.522}, {'end': 626.303, 'text': 'So what is blockchain? Blockchain is a distributed database of immutable records called blocks which are secured using cryptography.', 'start': 616.997, 'duration': 9.306}, {'end': 632.827, 'text': 'Now here we can see once the data is recorded, it cannot be changed, it cannot be altered.', 'start': 626.563, 'duration': 6.264}, {'end': 636.71, 'text': 'and that is the attribute of immutability of blockchain.', 'start': 633.147, 'duration': 3.563}, {'end': 642.334, 'text': 'A block is a record book which contains the details of transactional data.', 'start': 637.03, 'duration': 5.304}, {'end': 650.141, 'text': 'Every block is given an aggregated set of transactions to be validated, verified and added to itself.', 'start': 642.735, 'duration': 7.406}, {'end': 655.685, 'text': 'So basically a block consists of four primary details which we will take a look at.', 'start': 650.381, 'duration': 5.304}, {'end': 658.547, 'text': 'It contains the hash of a previous block.', 'start': 655.885, 'duration': 2.662}, {'end': 662.01, 'text': 'It contains an aggregated list of transactions.', 'start': 658.807, 'duration': 3.203}, {'end': 671.714, 'text': 'it also contains the value of nonce and the hash for the block itself, which itself is like a digital signature of the block.', 'start': 662.43, 'duration': 9.284}, {'end': 681.658, 'text': 'so hash of previous block it holds the hash value of the previous block to which it is connected contains details of several transactions which are aggregated in this block.', 'start': 671.714, 'duration': 9.944}, {'end': 691.463, 'text': 'nonce, nonce is a random number, a random value which is generated to derive a hash value which should be less then the target decided for the block,', 'start': 681.658, 'duration': 9.805}, {'end': 698.49, 'text': 'and hash is alpha numeric value which is used to identify the block itself, and it is unique.', 'start': 691.463, 'duration': 7.027}, {'end': 700.833, 'text': "now let's deep dive into blockchain.", 'start': 698.49, 'duration': 2.343}, {'end': 705.137, 'text': 'blockchain creates a chain of blocks, as we can see here.', 'start': 700.833, 'duration': 4.304}, {'end': 712.361, 'text': 'in a blockchain, The previous hash value of a block is always equal to the hash value of its previous block.', 'start': 705.137, 'duration': 7.224}, {'end': 720.565, 'text': 'So as we can see here, the previous hash value of block number 2 is 23a which is the hash value of block 1.', 'start': 712.481, 'duration': 8.084}, {'end': 729.209, 'text': 'Also, the previous hash value of block 1 is 0 because it is the first block in the blockchain and it is called the Genesis block.', 'start': 720.565, 'duration': 8.644}, {'end': 734.632, 'text': 'So the first block is called the Genesis block and does not have any previous hash value.', 'start': 729.509, 'duration': 5.123}, {'end': 740.794, 'text': 'So, consider an example now, where a person tries to tamper the block, block number 2.', 'start': 734.952, 'duration': 5.842}, {'end': 751.358, 'text': 'When he will try to change, the hash of block number 2 will change, thereby the previous hash value of block number 3 now does not stand valid.', 'start': 740.794, 'duration': 10.564}, {'end': 760.981, 'text': 'Now, the hash value of block 2 and block 3 does not match, which will make the following blocks, the blocks ahead of block number 2 invalid.', 'start': 751.598, 'duration': 9.383}, {'end': 767.324, 'text': 'This particular feature of blockchain helps us eliminate data tampering.', 'start': 761.701, 'duration': 5.623}, {'end': 769.945, 'text': "Now let's see how does blockchain work.", 'start': 767.524, 'duration': 2.421}, {'end': 773.086, 'text': 'Jack wants to send money to Elsa.', 'start': 770.365, 'duration': 2.721}, {'end': 782.87, 'text': 'The requested transaction of Jack wanting to send money to Elsa will be sent to all the peer nodes on the network of computers.', 'start': 773.306, 'duration': 9.564}, {'end': 791.254, 'text': 'Now the transaction sent to nodes is verified by a set of people or a typical set of nodes called miners.', 'start': 783.21, 'duration': 8.044}, {'end': 801.879, 'text': 'Once verified, the transaction is combined with other transactions to create a new block in the blockchain and, as a result, the receiving party,', 'start': 791.734, 'duration': 10.145}, {'end': 803.42, 'text': 'ELSA, receives the amount.', 'start': 801.879, 'duration': 1.541}, {'end': 810.623, 'text': 'In blockchain a transaction could be for a cryptocurrency, for data or any kind of asset.', 'start': 803.62, 'duration': 7.003}, {'end': 816.526, 'text': 'So the transaction can be for any digital asset which holds value on the network.', 'start': 810.863, 'duration': 5.663}, {'end': 820.008, 'text': "Now let's take a look at what are the typical features of blockchain.", 'start': 816.746, 'duration': 3.262}, {'end': 822.85, 'text': 'These are typical features of blockchain.', 'start': 820.328, 'duration': 2.522}, {'end': 829.273, 'text': 'It involves SHA-256 algorithm based encryption, proof of work, consensus algorithm,', 'start': 823.09, 'duration': 6.183}, {'end': 835.297, 'text': 'usage of public and private key in order to sign the messages on the network,', 'start': 829.273, 'duration': 6.024}, {'end': 843.441, 'text': 'the role of miners in order to validate and verify the transactions and how to create a now a distributed public ledger.', 'start': 835.297, 'duration': 8.144}, {'end': 847.964, 'text': 'Now, what is SHA-256 encryption? for a transaction?', 'start': 843.641, 'duration': 4.323}, {'end': 855.97, 'text': 'blockchain uses cryptographic keys to secure identities and hash function to make the blockchain unalterable.', 'start': 847.964, 'duration': 8.006}, {'end': 863.955, 'text': 'so cryptographic keys includes two kind of keys private and public key and it uses a hash function which includes SHA-256.', 'start': 855.97, 'duration': 7.985}, {'end': 872.842, 'text': 'Now SHA-256 stands for the number of bit it takes up in memory secure hashing algorithm.', 'start': 865.356, 'duration': 7.486}, {'end': 881.348, 'text': 'Now hash function takes an input data and always return an alphanumeric output of 64 characters which is 256 bits.', 'start': 872.962, 'duration': 8.386}, {'end': 887.993, 'text': 'So, as you can see over here, if you feed any data like we are here feeding an example of welcome.', 'start': 881.589, 'duration': 6.404}, {'end': 895.079, 'text': 'to simply learn, the hashing function will return you 256 bit value, and now that hash value is unique.', 'start': 887.993, 'duration': 7.086}, {'end': 899.082, 'text': 'The value returned by a hash function is called hash value.', 'start': 895.319, 'duration': 3.763}, {'end': 904.385, 'text': 'It is impossible to decode the original message using the hash value itself.', 'start': 899.342, 'duration': 5.043}, {'end': 907.788, 'text': 'So hash value does not disclose the original message.', 'start': 904.626, 'duration': 3.162}, {'end': 916.754, 'text': 'In the hash function, a minor change in the input data will result in a different hash value and that is the unique feature of the hashing function.', 'start': 908.088, 'duration': 8.666}, {'end': 922.396, 'text': 'you make a small change and the hashing value will change altogether completely.', 'start': 917.054, 'duration': 5.342}, {'end': 925.658, 'text': 'Now SHA-256 is a one-way function.', 'start': 922.657, 'duration': 3.001}, {'end': 931.42, 'text': 'You give an input, pass it through the hashing function, you get the output but the reverse is not possible.', 'start': 925.918, 'duration': 5.502}, {'end': 940.006, 'text': 'So, in simple terms, decrypting back the original text is not possible using SHA-256, which makes it very, very secure.', 'start': 931.56, 'duration': 8.446}, {'end': 949.972, 'text': 'now, cryptography uses public and private trees to encrypt and decrypt data, but a private key is always kept secret with the user.', 'start': 940.006, 'duration': 9.966}, {'end': 956.618, 'text': 'so if I have to send a message to someone, I will sign it with my private key, which is secret to me,', 'start': 949.972, 'duration': 6.646}, {'end': 965.631, 'text': "but I'll share my public key in order for users to decrypt the message and validate that, yes, the sender of the message is me.", 'start': 956.618, 'duration': 9.013}, {'end': 970.779, 'text': 'So in the blockchain network public key can be shared with all the Bitcoin users.', 'start': 965.832, 'duration': 4.947}, {'end': 972.98, 'text': 'in order to do the transaction.', 'start': 971.099, 'duration': 1.881}, {'end': 974.16, 'text': "so let's take a look.", 'start': 972.98, 'duration': 1.18}, {'end': 976.401, 'text': 'what is the entire verification process?', 'start': 974.16, 'duration': 2.241}, {'end': 983.105, 'text': 'so when you initiate a transaction, it is passed through a hashing function, which in our case is SHA-256.', 'start': 976.401, 'duration': 6.704}, {'end': 992.689, 'text': "the output is passed through a signature algorithm with the user's private key again, and then we receive a digitally signed document.", 'start': 983.105, 'duration': 9.584}, {'end': 1003.24, 'text': 'so the hash hashing output plus my private key is used to generate a digitally signed document which is then floated on the network with my public key.', 'start': 992.689, 'duration': 10.551}, {'end': 1008.486, 'text': 'then the encrypted output is distributed to the bitcoin network using the public key.', 'start': 1003.24, 'duration': 5.246}, {'end': 1016.595, 'text': 'so the digitally signed document and the public key is used by the miners to verify the transaction and once that is done,', 'start': 1008.486, 'duration': 8.109}, {'end': 1022.161, 'text': 'they include the transaction on the block and the transaction is then marked as completed.', 'start': 1016.595, 'duration': 5.566}, {'end': 1023.443, 'text': 'so what is distributed?', 'start': 1022.161, 'duration': 1.282}, {'end': 1034.935, 'text': 'public ledger a blockchain is a distributed ledger in which the digital data is recorded and verified by each node for preventing tempering of data.', 'start': 1023.443, 'duration': 11.492}, {'end': 1038.821, 'text': 'So if you can see over here, we have a network of nodes.', 'start': 1035.136, 'duration': 3.685}, {'end': 1048.276, 'text': 'Among these nodes, few might be the miners who are taking the responsibility of verifying and validating the transactions on each block.', 'start': 1039.262, 'duration': 9.014}, {'end': 1051.658, 'text': 'and in lieu of that verification, they will be rewarded.', 'start': 1048.536, 'duration': 3.122}, {'end': 1054.179, 'text': 'so we will see when we will be talking about mining.', 'start': 1051.658, 'duration': 2.521}, {'end': 1056.02, 'text': "so let's take an example over here.", 'start': 1054.179, 'duration': 1.841}, {'end': 1062.204, 'text': 'jack is sending 10 btcs to elsa now, which is verified by john in the network.', 'start': 1056.02, 'duration': 6.184}, {'end': 1063.224, 'text': 'john is the miner.', 'start': 1062.204, 'duration': 1.02}, {'end': 1070.35, 'text': 'now, once the transaction is verified by john, The result is being broadcasted, is transferred to other nodes.', 'start': 1063.224, 'duration': 7.126}, {'end': 1077.157, 'text': 'As a result, the block becomes valid and gets added to the blockchain, and, once it is transferred to other nodes,', 'start': 1070.61, 'duration': 6.547}, {'end': 1084.784, 'text': 'the ledger of each node records this transaction and all the ledgers now have the same information on the network.', 'start': 1077.157, 'duration': 7.627}, {'end': 1093.029, 'text': 'to note, only a valid transaction is propagated across the bitcoin users, while if any invalid transaction is identified,', 'start': 1084.924, 'duration': 8.105}, {'end': 1097.371, 'text': 'it is discarded at the first node itself, which received it.', 'start': 1093.029, 'duration': 4.342}, {'end': 1097.811, 'text': 'now what?', 'start': 1097.371, 'duration': 0.44}, {'end': 1100.953, 'text': 'if any user tries to tamper the data?', 'start': 1097.811, 'duration': 3.142}, {'end': 1104.015, 'text': 'every user in the blockchain maintains a copy of the ledger.', 'start': 1100.953, 'duration': 3.062}, {'end': 1110.358, 'text': 'so, as i said, Once the transactions are verified, they are distributed across the nodes.', 'start': 1104.015, 'duration': 6.343}, {'end': 1112.399, 'text': 'All the ledgers are updated.', 'start': 1110.638, 'duration': 1.761}, {'end': 1118.763, 'text': 'Now, if someone goes back in the blockchain and tries to tamper the data in one of the blocks,', 'start': 1112.719, 'duration': 6.044}, {'end': 1124.466, 'text': 'the other nodes will be able to identify the invalid block and will discard it.', 'start': 1118.763, 'duration': 5.703}, {'end': 1132.05, 'text': 'So if anyone tries to modify the data, the alternate transaction copies with other users will negate the alteration.', 'start': 1124.566, 'duration': 7.484}, {'end': 1134.893, 'text': "Now let's take a look at the proof of work algorithm.", 'start': 1132.27, 'duration': 2.623}, {'end': 1140.198, 'text': 'Proof of work is a consensus algorithm which is used in the Bitcoin network.', 'start': 1134.953, 'duration': 5.245}, {'end': 1147.366, 'text': 'It is the process to determine a number called as nonce, along with the cryptographic hashing algorithm,', 'start': 1140.298, 'duration': 7.068}, {'end': 1152.491, 'text': 'to produce a hash value lower than the predefined target for the block.', 'start': 1147.366, 'duration': 5.125}, {'end': 1162.256, 'text': "So, if you see over here, the miner's main task is to identify the nonce, which is the random number, in order to generate the hash value,", 'start': 1152.691, 'duration': 9.565}, {'end': 1163.397, 'text': 'which is less than the target.', 'start': 1162.256, 'duration': 1.141}, {'end': 1169.48, 'text': 'Now, generally, the target is something like the hash value should have leading zeros.', 'start': 1163.577, 'duration': 5.903}, {'end': 1173.802, 'text': 'Like here in the example, we can see it is having leading zeros of two leading zeros.', 'start': 1169.7, 'duration': 4.102}, {'end': 1181.864, 'text': 'So in order to generate a hash value with leading zeros like 2 or 3, it takes huge amount of computing power for the miners to determine that.', 'start': 1173.962, 'duration': 7.902}, {'end': 1191.265, 'text': 'So in order to determine the norms, the miners need to try about 20.6 quadrillion norms values to get a one valid hash.', 'start': 1182.004, 'duration': 9.261}, {'end': 1197.547, 'text': 'Now how it works? Transaction data is distributed across the users of Bitcoin network.', 'start': 1191.466, 'duration': 6.081}, {'end': 1202.448, 'text': 'Miners will validate the unverified transactions, add them to the block.', 'start': 1197.787, 'duration': 4.661}, {'end': 1203.748, 'text': 'That is their task.', 'start': 1202.648, 'duration': 1.1}, {'end': 1213.012, 'text': 'To do so, miners compete to solve a difficult mathematical puzzle, which is the generation of the nonce value based on cryptographic hashing function,', 'start': 1203.908, 'duration': 9.104}, {'end': 1215.353, 'text': 'and this whole process is known as proof of work.', 'start': 1213.012, 'duration': 2.341}, {'end': 1224.418, 'text': 'The first miner who solves the puzzle gets rewarded, and this is the purpose for which the miner has made the investment in the hardware,', 'start': 1215.573, 'duration': 8.845}, {'end': 1229.3, 'text': 'in the computing power, the energy which the mining machine is consuming.', 'start': 1224.418, 'duration': 4.882}, {'end': 1231.041, 'text': 'in order to get the reward.', 'start': 1229.56, 'duration': 1.481}, {'end': 1235.304, 'text': 'Once the miner has verified the block, it is added to the blockchain.', 'start': 1231.341, 'duration': 3.963}, {'end': 1237.165, 'text': "Now let's take a look at the process.", 'start': 1235.564, 'duration': 1.601}, {'end': 1243.509, 'text': 'Using the SHA-256, you generate a hash value, use nonce as an input to the hashing function.', 'start': 1237.545, 'duration': 5.964}, {'end': 1249.854, 'text': 'If the hash value is less than the target, no, then you modify the nonce value, you repeat this activity.', 'start': 1243.79, 'duration': 6.064}, {'end': 1254.996, 'text': 'If it is less than the target value, yes, then you are deemed to get the reward.', 'start': 1250.034, 'duration': 4.962}, {'end': 1256.337, 'text': 'Your puzzle is solved.', 'start': 1255.156, 'duration': 1.181}, {'end': 1262.738, 'text': 'Note, in the Bitcoin network the target is adjusted every 2016 blocks.', 'start': 1256.597, 'duration': 6.141}, {'end': 1270.68, 'text': 'So as I mentioned the target of having leading 3 zeros or having leading 4 zeros that is revised after every 2016 blocks.', 'start': 1262.958, 'duration': 7.722}, {'end': 1274.201, 'text': 'On an average a block is mined every 10 minutes.', 'start': 1270.96, 'duration': 3.241}, {'end': 1281.323, 'text': 'The difficulty of the puzzle is maintained in such a way that it never deviates too much from the average time taken to mine a block.', 'start': 1274.361, 'duration': 6.962}, {'end': 1283.383, 'text': 'Now candidate block proof of work.', 'start': 1281.403, 'duration': 1.98}, {'end': 1289.706, 'text': "so let's consider an example where a miner jack is competing to validate the block number thousand.", 'start': 1283.383, 'duration': 6.323}, {'end': 1296.569, 'text': 'now, while jack was mining block number thousand, he was also listening for new transactions.', 'start': 1289.706, 'duration': 6.863}, {'end': 1300.19, 'text': 'so in the transaction pool the transaction are stored.', 'start': 1296.569, 'duration': 3.621}, {'end': 1304.972, 'text': 'they are basically parked until they get verified and gets included in a new block.', 'start': 1300.19, 'duration': 4.782}, {'end': 1311.035, 'text': 'now, unfortunately, before jack could mine thousand, someone else mined it and earned the reward.', 'start': 1304.972, 'duration': 6.063}, {'end': 1315.118, 'text': 'Now block 1000 has a valid proof of work now.', 'start': 1311.335, 'duration': 3.783}], 'summary': 'Bitcoin is a decentralized currency with fast, low-cost transactions, utilizing blockchain for secure, transparent record-keeping.', 'duration': 754.348, 'max_score': 560.77, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM560770.jpg'}, {'end': 681.658, 'src': 'embed', 'start': 650.381, 'weight': 1, 'content': [{'end': 655.685, 'text': 'So basically a block consists of four primary details which we will take a look at.', 'start': 650.381, 'duration': 5.304}, {'end': 658.547, 'text': 'It contains the hash of a previous block.', 'start': 655.885, 'duration': 2.662}, {'end': 662.01, 'text': 'It contains an aggregated list of transactions.', 'start': 658.807, 'duration': 3.203}, {'end': 671.714, 'text': 'it also contains the value of nonce and the hash for the block itself, which itself is like a digital signature of the block.', 'start': 662.43, 'duration': 9.284}, {'end': 681.658, 'text': 'so hash of previous block it holds the hash value of the previous block to which it is connected contains details of several transactions which are aggregated in this block.', 'start': 671.714, 'duration': 9.944}], 'summary': "A block consists of hash of previous block, list of transactions, nonce value, and block's hash, serving as a digital signature.", 'duration': 31.277, 'max_score': 650.381, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM650381.jpg'}, {'end': 760.981, 'src': 'embed', 'start': 734.952, 'weight': 6, 'content': [{'end': 740.794, 'text': 'So, consider an example now, where a person tries to tamper the block, block number 2.', 'start': 734.952, 'duration': 5.842}, {'end': 751.358, 'text': 'When he will try to change, the hash of block number 2 will change, thereby the previous hash value of block number 3 now does not stand valid.', 'start': 740.794, 'duration': 10.564}, {'end': 760.981, 'text': 'Now, the hash value of block 2 and block 3 does not match, which will make the following blocks, the blocks ahead of block number 2 invalid.', 'start': 751.598, 'duration': 9.383}], 'summary': 'Tampering with block 2 invalidates subsequent blocks.', 'duration': 26.029, 'max_score': 734.952, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM734952.jpg'}, {'end': 956.618, 'src': 'embed', 'start': 925.918, 'weight': 2, 'content': [{'end': 931.42, 'text': 'You give an input, pass it through the hashing function, you get the output but the reverse is not possible.', 'start': 925.918, 'duration': 5.502}, {'end': 940.006, 'text': 'So, in simple terms, decrypting back the original text is not possible using SHA-256, which makes it very, very secure.', 'start': 931.56, 'duration': 8.446}, {'end': 949.972, 'text': 'now, cryptography uses public and private trees to encrypt and decrypt data, but a private key is always kept secret with the user.', 'start': 940.006, 'duration': 9.966}, {'end': 956.618, 'text': 'so if I have to send a message to someone, I will sign it with my private key, which is secret to me,', 'start': 949.972, 'duration': 6.646}], 'summary': 'Sha-256 makes text very secure, decrypting not possible. cryptography uses public and private keys to encrypt and decrypt data.', 'duration': 30.7, 'max_score': 925.918, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM925918.jpg'}, {'end': 1016.595, 'src': 'embed', 'start': 992.689, 'weight': 3, 'content': [{'end': 1003.24, 'text': 'so the hash hashing output plus my private key is used to generate a digitally signed document which is then floated on the network with my public key.', 'start': 992.689, 'duration': 10.551}, {'end': 1008.486, 'text': 'then the encrypted output is distributed to the bitcoin network using the public key.', 'start': 1003.24, 'duration': 5.246}, {'end': 1016.595, 'text': 'so the digitally signed document and the public key is used by the miners to verify the transaction and once that is done,', 'start': 1008.486, 'duration': 8.109}], 'summary': 'Hashing output + private key used to generate digitally signed document floated on network with public key. encrypted output distributed to bitcoin network using public key. miners use digitally signed document and public key to verify transaction.', 'duration': 23.906, 'max_score': 992.689, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM992689.jpg'}, {'end': 1472.188, 'src': 'embed', 'start': 1446.355, 'weight': 0, 'content': [{'end': 1450.959, 'text': 'so, as an example, if the health records are there on blockchain,', 'start': 1446.355, 'duration': 4.604}, {'end': 1458.825, 'text': 'the insurance companies can easily validate the health claims made by any patient through the blockchain digital records.', 'start': 1450.959, 'duration': 7.866}, {'end': 1463.886, 'text': 'accounting it virtually maintains a record of accurate financial information.', 'start': 1458.825, 'duration': 5.061}, {'end': 1472.188, 'text': 'all the financial transactions, if maintained on an immutable ledger, can easily be validated and verified and makes accounting simple.', 'start': 1463.886, 'duration': 8.302}], 'summary': 'Blockchain health records validate claims, simplifying accounting.', 'duration': 25.833, 'max_score': 1446.355, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM1446355.jpg'}], 'start': 540.769, 'title': 'Blockchain technology and applications', 'summary': 'Delves into the advantages and working of bitcoin and blockchain, including minimal transfer fees, decentralized nature, immutability, and the process of creating a chain of blocks. it also explores the transaction verification process, sha-256 encryption, proof of work, and applications in industries such as voting, supply chain, insurance, and accounting.', 'chapters': [{'end': 760.981, 'start': 540.769, 'title': 'Bitcoin & blockchain: distributed ledger technology', 'summary': 'Explains the advantages of bitcoin and blockchain, including minimal transfer fees, decentralized nature, immutability, and the process of creating a chain of blocks in a blockchain.', 'duration': 220.212, 'highlights': ['Bitcoin enables barrier-free, decentralized, low-fee transactions without intermediaries, offering personal information protection and cryptographic security. Bitcoin allows for decentralized, low-fee transactions without intermediaries, providing personal information protection and cryptographic security.', 'Blockchain is a distributed database of immutable records secured using cryptography, ensuring that once data is recorded, it cannot be changed. Blockchain is a distributed database of immutable records secured using cryptography, ensuring data immutability.', 'A block consists of the hash of the previous block, an aggregated list of transactions, a nonce value, and the hash for the block itself, creating a digital signature. A block contains the hash of the previous block, an aggregated list of transactions, a nonce value, and the hash for the block itself, forming a digital signature.', 'Blockchain creates a chain of blocks, where the previous hash value of a block is always equal to the hash value of its previous block, ensuring data integrity. Blockchain creates a chain of blocks, ensuring data integrity by linking the previous hash value of a block to the hash value of its previous block.']}, {'end': 1016.595, 'start': 761.701, 'title': 'Blockchain fundamentals and security', 'summary': 'Explains the working of blockchain, including the process of transaction verification and the use of sha-256 encryption, highlighting its features and the verification process.', 'duration': 254.894, 'highlights': ["Blockchain transaction verification process involves passing the transaction through a hashing function, using a signature algorithm with the user's private key, and distributing the digitally signed document to the network with the public key, which is then verified by miners. transaction verification process, hashing function, signature algorithm, user's private key, digitally signed document, public key, miners", 'The use of SHA-256 encryption in blockchain involves cryptographic keys to secure identities and hash function to make the blockchain unalterable, generating a unique 256-bit hash value for input data. SHA-256 encryption, cryptographic keys, hash function, 256-bit hash value', 'The unique features of the hash function in blockchain include generating a unique 256-bit hash value for input data, making it impossible to decode the original message using the hash value, and being a one-way function for secure encryption. unique features of hash function, 256-bit hash value, secure encryption']}, {'end': 1510.011, 'start': 1016.595, 'title': 'Blockchain: transaction and proof of work', 'summary': 'Discusses the process of transaction verification and proof of work in blockchain, including the distribution and validation of transactions across nodes, the concept of proof of work with nonce generation, and the reduction of bitcoin rewards every 210,000 blocks. it also explores the applications of blockchain in various industries such as voting, supply chain, insurance, and accounting.', 'duration': 493.416, 'highlights': ['Distribution and Validation of Transactions Transactions are distributed and validated across nodes in the blockchain network, ensuring that all ledgers have the same information, while invalid transactions are discarded at the first node. This process prevents tampering and ensures the integrity of the data across the network.', "Proof of Work and Nonce Generation The proof of work algorithm involves miners competing to find a nonce value, with the goal of producing a hash value lower than the predefined target for the block. This process requires significant computing power, with miners needing to try about 20.6 quadrillion nonce values to generate one valid hash, resulting in the maintenance of the network's security and the issuance of rewards to successful miners.", "Reduction of Bitcoin Rewards The amount of Bitcoin rewarded for adding each block to the blockchain is halved approximately every four years, with the current reward set at 12.5 Bitcoins and expected to reduce to 6.25 Bitcoins when the four-year threshold is reached. This concept, known as 'halving,' plays a crucial role in the Bitcoin network's economic model and supply dynamics.", 'Applications of Blockchain in Various Industries Blockchain technology is being applied in industries such as voting, supply chain, insurance, and accounting, offering benefits such as increased transparency in voting processes, provenance and traceability in supply chains, prevention of forgery and false claims in insurance, and accurate financial record-keeping in accounting. Several global organizations, including Walmart, British Airways, Maersk, and Brilliant Earth, are leveraging blockchain for data protection, accurate information dissemination, efficient global trade, and provenance tracking of high-value gemstones.']}], 'duration': 969.242, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM540769.jpg', 'highlights': ['Blockchain creates a chain of blocks, ensuring data integrity by linking the previous hash value of a block to the hash value of its previous block.', 'Blockchain is a distributed database of immutable records secured using cryptography, ensuring data immutability.', 'Bitcoin enables barrier-free, decentralized, low-fee transactions without intermediaries, offering personal information protection and cryptographic security.', "Blockchain transaction verification process involves passing the transaction through a hashing function, using a signature algorithm with the user's private key, and distributing the digitally signed document to the network with the public key, which is then verified by miners.", 'The proof of work algorithm involves miners competing to find a nonce value, with the goal of producing a hash value lower than the predefined target for the block.', 'Reduction of Bitcoin Rewards: The amount of Bitcoin rewarded for adding each block to the blockchain is halved approximately every four years, with the current reward set at 12.5 Bitcoins and expected to reduce to 6.25 Bitcoins when the four-year threshold is reached.', 'Applications of Blockchain in Various Industries: Blockchain technology is being applied in industries such as voting, supply chain, insurance, and accounting, offering benefits such as increased transparency in voting processes, provenance and traceability in supply chains, prevention of forgery and false claims in insurance, and accurate financial record-keeping in accounting.']}, {'end': 2316.668, 'segs': [{'end': 1631.563, 'src': 'embed', 'start': 1579.524, 'weight': 1, 'content': [{'end': 1590.457, 'text': 'so whenever i will be mining, the job of the miner here is to generate a hash which should have four leading zeros in the hash value and it will use,', 'start': 1579.524, 'duration': 10.933}, {'end': 1597.121, 'text': 'it will guess the nonce value in order to generate such a hash which is having four leading zeros.', 'start': 1590.457, 'duration': 6.664}, {'end': 1606.385, 'text': 'so suppose, if i type a data set now, the hash which is right now you are seeing on the screen is not mined and it does not have the leading zeros,', 'start': 1597.121, 'duration': 9.264}, {'end': 1607.606, 'text': 'the four leading zeros.', 'start': 1606.385, 'duration': 1.221}, {'end': 1611.488, 'text': "so when i'll click mine, the nonce value will change.", 'start': 1607.606, 'duration': 3.882}, {'end': 1615.83, 'text': 'the miner has to guess the nonce value to get the hash which is having four leading zeros.', 'start': 1611.488, 'duration': 4.342}, {'end': 1619.2, 'text': 'Here it is.', 'start': 1618.78, 'duration': 0.42}, {'end': 1624.401, 'text': 'So the non switch is generated now, which is 57,480.', 'start': 1619.42, 'duration': 4.981}, {'end': 1626.802, 'text': 'It takes huge amount of time, processing power.', 'start': 1624.401, 'duration': 2.401}, {'end': 1631.563, 'text': 'So it could have gone a pretty high value, but it was able to guess it at a decent amount of time.', 'start': 1626.962, 'duration': 4.601}], 'summary': 'Miners aim to generate a hash with 4 leading zeros using nonce value, taking considerable processing power.', 'duration': 52.039, 'max_score': 1579.524, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM1579524.jpg'}, {'end': 2147.635, 'src': 'embed', 'start': 2117.048, 'weight': 0, 'content': [{'end': 2119.889, 'text': 'Bitcoin could not have been possible without blockchain.', 'start': 2117.048, 'duration': 2.841}, {'end': 2125.83, 'text': 'So we will understand how Bitcoin adopted blockchain in order to reach to its journey today.', 'start': 2120.049, 'duration': 5.781}, {'end': 2133.352, 'text': 'So Bitcoin was introduced in 2009 by someone or a group of people known as Satoshi Nakamoto.', 'start': 2125.95, 'duration': 7.402}, {'end': 2139.493, 'text': 'It aimed to solve the problem faced by fiat currencies with the help of blockchain technology.', 'start': 2133.492, 'duration': 6.001}, {'end': 2141.694, 'text': 'now as of today.', 'start': 2139.713, 'duration': 1.981}, {'end': 2147.635, 'text': 'in 2018, there are more than 1600 cryptocurrencies that follow the concepts of bitcoin and blockchain.', 'start': 2141.694, 'duration': 5.941}], 'summary': 'Bitcoin, introduced in 2009, utilized blockchain to address fiat currency issues. by 2018, over 1600 cryptocurrencies followed this concept.', 'duration': 30.587, 'max_score': 2117.048, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM2117048.jpg'}], 'start': 1510.011, 'title': "Blockchain's role in banking system", 'summary': "Explores the application of a 256-bit hashing function in blockchain mining, emphasizing the distributed ledger's role in detecting tampered blocks. it also delves into the vulnerabilities of the banking system, including high transaction costs and centralized failure points, and discusses blockchain's potential to address these issues, impacting cryptocurrency transactions and validation.", 'chapters': [{'end': 1854.726, 'start': 1510.011, 'title': 'Blockchain demo and distributed ledger', 'summary': 'Discusses the usage of a 256-bit hashing function (sha-256), demonstrating its application in blockchain mining and the construction of a valid blockchain, highlighting the significance of distributed ledger in identifying tampered blocks in a network.', 'duration': 344.715, 'highlights': ['The hashing function used is a 256-bit hashing function, SHA-256, generating a unique 256-bit hash for any input data. The uniqueness of the 256-bit hash generated by the SHA-256 hashing function.', "The difficulty level is set to have four leading zeros in the hash value, and the miner's task is to guess the nonce value to generate such a hash. The specified difficulty level for the hash value and the miner's role in guessing the nonce value to meet the criteria, highlighting the processing power required for mining.", 'The construction of a valid blockchain, where modifying any block in the past requires the subsequent blocks to be mined again, consuming a significant amount of time and processing power. The impact of modifying past blocks on subsequent block verification, emphasizing the resource-intensive nature of mining in a regular blockchain.', "The distributed ledger's role in identifying tampered blocks across multiple peers, ensuring the integrity of the network by disregarding invalid blocks. The function of distributed ledger in detecting and disregarding tampered blocks, highlighting the importance of maintaining data integrity across the network."]}, {'end': 2316.668, 'start': 1854.887, 'title': 'Banking system vulnerabilities & blockchain solution', 'summary': 'Discusses the vulnerabilities of the banking system, including high transaction costs, accessibility limitations, and centralized failure points, and elaborates on the potential use of blockchain technology, highlighting its features, use cases, and the impact on cryptocurrency transactions and validation.', 'duration': 461.781, 'highlights': ['Blockchain: A Solution to Banking Vulnerabilities Discusses the vulnerabilities of the banking system, such as high transaction costs, accessibility limitations, and centralized failure points, and proposes blockchain as a potential solution to these issues.', 'Features of Blockchain Explains the features of blockchain, including public distributed ledger, hashing encryption, proof-of-work consensus algorithm, and the concept of mining, emphasizing its role in ensuring data security and decentralization.', 'Bitcoin and Blockchain Integration Explores the integration of blockchain technology with Bitcoin, highlighting the role of blockchain in enabling Bitcoin transactions and its significance in the development of various cryptocurrencies.', 'Bitcoin Transaction Process Describes the process of a Bitcoin transaction, including sender verification, miner authentication, block addition, and ledger updating, illustrating the fundamental elements of cryptocurrency transactions.', 'Public Distributed Ledger in Blockchain Illustrates the concept of a public distributed ledger in blockchain, emphasizing its role in ensuring data consistency and integrity across all network participants, thus enhancing transparency and security.']}], 'duration': 806.657, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM1510011.jpg', 'highlights': ["The distributed ledger's role in identifying tampered blocks across multiple peers, ensuring the integrity of the network by disregarding invalid blocks.", 'The construction of a valid blockchain, where modifying any block in the past requires the subsequent blocks to be mined again, consuming a significant amount of time and processing power.', 'The hashing function used is a 256-bit hashing function, SHA-256, generating a unique 256-bit hash for any input data.', "The difficulty level is set to have four leading zeros in the hash value, and the miner's task is to guess the nonce value to generate such a hash."]}, {'end': 3026.563, 'segs': [{'end': 2349.122, 'src': 'embed', 'start': 2317.029, 'weight': 2, 'content': [{'end': 2319.051, 'text': 'Blockchain works in a similar fashion.', 'start': 2317.029, 'duration': 2.022}, {'end': 2322.854, 'text': 'The data within a blockchain is accessible to everyone.', 'start': 2319.331, 'duration': 3.523}, {'end': 2325.917, 'text': 'So with this, as long as you are part of the network,', 'start': 2323.014, 'duration': 2.903}, {'end': 2332.002, 'text': 'you could access the entire history of transactions that have taken place since the blockchain was created.', 'start': 2325.917, 'duration': 6.085}, {'end': 2337.668, 'text': 'since inception and the first block in any blockchain is called the genesis block.', 'start': 2332.222, 'duration': 5.446}, {'end': 2343.215, 'text': 'so from the genesis block to the current block, you will have the access to the entire chain.', 'start': 2337.668, 'duration': 5.547}, {'end': 2349.122, 'text': 'any additions to blockchain have to be approved by the participant users in the blockchain network.', 'start': 2343.215, 'duration': 5.907}], 'summary': 'Blockchain allows anyone in the network to access the full transaction history from genesis block to the current one.', 'duration': 32.093, 'max_score': 2317.029, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM2317029.jpg'}, {'end': 2469.442, 'src': 'embed', 'start': 2439.282, 'weight': 4, 'content': [{'end': 2440.784, 'text': 'what are the contents of a block?', 'start': 2439.282, 'duration': 1.502}, {'end': 2446.927, 'text': 'so a block in a blockchain is like a container that holds aggregated transactions.', 'start': 2441.124, 'duration': 5.803}, {'end': 2449.189, 'text': 'it contains certain set of transactions.', 'start': 2446.927, 'duration': 2.262}, {'end': 2452.611, 'text': 'so we will see what all things construct a particular block.', 'start': 2449.189, 'duration': 3.422}, {'end': 2456.793, 'text': 'so a block has two parts it has a header and it has.', 'start': 2452.611, 'duration': 4.182}, {'end': 2459.195, 'text': 'the second part is the transaction details.', 'start': 2456.793, 'duration': 2.402}, {'end': 2463.077, 'text': 'it is the set of transactions which are aggregated in this block.', 'start': 2459.195, 'duration': 3.882}, {'end': 2466.74, 'text': 'Now the header has following set of attributes', 'start': 2463.357, 'duration': 3.383}, {'end': 2469.442, 'text': 'It has the block version number.', 'start': 2467.08, 'duration': 2.362}], 'summary': 'A block in a blockchain contains aggregated transactions and has a header with a version number.', 'duration': 30.16, 'max_score': 2439.282, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM2439282.jpg'}, {'end': 2552.579, 'src': 'embed', 'start': 2482.552, 'weight': 3, 'content': [{'end': 2487.374, 'text': 'now the transaction details are nothing but the example which we talked about earlier.', 'start': 2482.552, 'duration': 4.822}, {'end': 2490.675, 'text': 'it is the transaction which the sender and receiver are sharing.', 'start': 2487.374, 'duration': 3.301}, {'end': 2495.117, 'text': "the sender is trying to send certain amount of bitcoin from his account to the receiver's account.", 'start': 2490.675, 'duration': 4.442}, {'end': 2503.3, 'text': 'now it is represented in the form of a 256-bit hash value in the header called as merkle root or the hash root.', 'start': 2495.117, 'duration': 8.183}, {'end': 2511.183, 'text': 'so basically, the merkle root is the hash of all the transactions structured in a merkle tree called binary tree.', 'start': 2503.3, 'duration': 7.883}, {'end': 2518.649, 'text': "It's a kind of a binary tree and the hash value of the root node of the Merkle tree is called the Merkle root hash.", 'start': 2511.403, 'duration': 7.246}, {'end': 2525.494, 'text': 'So the transaction details of a block are contained in the header in a hex value known as Merkle root.', 'start': 2518.869, 'duration': 6.625}, {'end': 2528.196, 'text': 'The Merkle root can be calculated in this way.', 'start': 2525.674, 'duration': 2.522}, {'end': 2533.64, 'text': 'So basically the list of transaction, each transaction is passed through a hashing algorithm.', 'start': 2528.276, 'duration': 5.364}, {'end': 2543.65, 'text': 'Then all the hashes of the transactions are paired and then again passed through another hashing algorithm until only one value remains,', 'start': 2533.88, 'duration': 9.77}, {'end': 2545.151, 'text': 'and which will be the root.', 'start': 2543.65, 'duration': 1.501}, {'end': 2548.214, 'text': 'Now let me tell you how a hash function works.', 'start': 2545.492, 'duration': 2.722}, {'end': 2552.579, 'text': 'Blockchain utilizes a hash function to perform cryptography.', 'start': 2548.615, 'duration': 3.964}], 'summary': 'Transaction details involve 256-bit merkle root hash in blockchain, using hash function for cryptography.', 'duration': 70.027, 'max_score': 2482.552, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM2482552.jpg'}, {'end': 2602.915, 'src': 'embed', 'start': 2577.64, 'weight': 6, 'content': [{'end': 2585.004, 'text': "Basically, any small change to the input produces an output that's drastically different from its previous obtained outputs.", 'start': 2577.64, 'duration': 7.364}, {'end': 2586.886, 'text': 'It can be computed easily.', 'start': 2585.285, 'duration': 1.601}, {'end': 2590.448, 'text': 'The output values can be obtained without a whole lot of calculation.', 'start': 2587.106, 'duration': 3.342}, {'end': 2593.429, 'text': 'And hashing functions are one-way functions.', 'start': 2590.748, 'duration': 2.681}, {'end': 2597.832, 'text': "Basically, you won't be able to determine the input based on the output value.", 'start': 2593.669, 'duration': 4.163}, {'end': 2599.553, 'text': "So you can't do the reverse calculation.", 'start': 2597.912, 'duration': 1.641}, {'end': 2602.915, 'text': "now let's go back to our block we were talking about earlier.", 'start': 2599.833, 'duration': 3.082}], 'summary': 'Small input changes yield drastically different outputs, easily computed, one-way hashing prevents reverse calculation.', 'duration': 25.275, 'max_score': 2577.64, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM2577640.jpg'}, {'end': 2655.225, 'src': 'heatmap', 'start': 2469.442, 'weight': 0, 'content': [{'end': 2478.189, 'text': 'it has the hash of the previous block to which it is linked, the current timestamp, the timestamp at which the block was verified, the nonce, nonce.', 'start': 2469.442, 'duration': 8.747}, {'end': 2482.292, 'text': 'we will see what is the attribute, what is the meaning of nonce and the target value.', 'start': 2478.189, 'duration': 4.103}, {'end': 2487.374, 'text': 'now the transaction details are nothing but the example which we talked about earlier.', 'start': 2482.552, 'duration': 4.822}, {'end': 2490.675, 'text': 'it is the transaction which the sender and receiver are sharing.', 'start': 2487.374, 'duration': 3.301}, {'end': 2495.117, 'text': "the sender is trying to send certain amount of bitcoin from his account to the receiver's account.", 'start': 2490.675, 'duration': 4.442}, {'end': 2503.3, 'text': 'now it is represented in the form of a 256-bit hash value in the header called as merkle root or the hash root.', 'start': 2495.117, 'duration': 8.183}, {'end': 2511.183, 'text': 'so basically, the merkle root is the hash of all the transactions structured in a merkle tree called binary tree.', 'start': 2503.3, 'duration': 7.883}, {'end': 2518.649, 'text': "It's a kind of a binary tree and the hash value of the root node of the Merkle tree is called the Merkle root hash.", 'start': 2511.403, 'duration': 7.246}, {'end': 2525.494, 'text': 'So the transaction details of a block are contained in the header in a hex value known as Merkle root.', 'start': 2518.869, 'duration': 6.625}, {'end': 2528.196, 'text': 'The Merkle root can be calculated in this way.', 'start': 2525.674, 'duration': 2.522}, {'end': 2533.64, 'text': 'So basically the list of transaction, each transaction is passed through a hashing algorithm.', 'start': 2528.276, 'duration': 5.364}, {'end': 2543.65, 'text': 'Then all the hashes of the transactions are paired and then again passed through another hashing algorithm until only one value remains,', 'start': 2533.88, 'duration': 9.77}, {'end': 2545.151, 'text': 'and which will be the root.', 'start': 2543.65, 'duration': 1.501}, {'end': 2548.214, 'text': 'Now let me tell you how a hash function works.', 'start': 2545.492, 'duration': 2.722}, {'end': 2552.579, 'text': 'Blockchain utilizes a hash function to perform cryptography.', 'start': 2548.615, 'duration': 3.964}, {'end': 2562.327, 'text': 'Data from a data set of random size is sent as input to a hashing function to get an encrypted value of fixed size,', 'start': 2552.899, 'duration': 9.428}, {'end': 2565.069, 'text': 'and that is the feature of any hashing function.', 'start': 2562.327, 'duration': 2.742}, {'end': 2569.793, 'text': 'So some unique properties of hashing function are these are deterministic.', 'start': 2565.25, 'duration': 4.543}, {'end': 2573.757, 'text': 'The same input will always produce the same hash output.', 'start': 2570.054, 'duration': 3.703}, {'end': 2577.44, 'text': 'Small changes in the data can drastically change the output.', 'start': 2574.017, 'duration': 3.423}, {'end': 2585.004, 'text': "Basically, any small change to the input produces an output that's drastically different from its previous obtained outputs.", 'start': 2577.64, 'duration': 7.364}, {'end': 2586.886, 'text': 'It can be computed easily.', 'start': 2585.285, 'duration': 1.601}, {'end': 2590.448, 'text': 'The output values can be obtained without a whole lot of calculation.', 'start': 2587.106, 'duration': 3.342}, {'end': 2593.429, 'text': 'And hashing functions are one-way functions.', 'start': 2590.748, 'duration': 2.681}, {'end': 2597.832, 'text': "Basically, you won't be able to determine the input based on the output value.", 'start': 2593.669, 'duration': 4.163}, {'end': 2599.553, 'text': "So you can't do the reverse calculation.", 'start': 2597.912, 'duration': 1.641}, {'end': 2602.915, 'text': "now let's go back to our block we were talking about earlier.", 'start': 2599.833, 'duration': 3.082}, {'end': 2606.297, 'text': 'so, as we were discussing, what are the features in the header?', 'start': 2602.915, 'duration': 3.382}, {'end': 2613.542, 'text': 'the previous hash is the resultant hash of the previous block in the blockchain and this is the way two blocks are linked together.', 'start': 2606.297, 'duration': 7.245}, {'end': 2614.883, 'text': 'now transaction details.', 'start': 2613.542, 'duration': 1.341}, {'end': 2620.727, 'text': 'these are used to provide details about the sender receiver and how much money they want to exchange between them,', 'start': 2614.883, 'duration': 5.844}, {'end': 2629.112, 'text': 'and this is a list of of transactions, and they are structured in a Merkle tree and the hash of the Merkle root is put in the header.', 'start': 2620.727, 'duration': 8.385}, {'end': 2638.596, 'text': 'nonce is a value that is varied to create a unique hash address of the block, which should be less than the target hash value.', 'start': 2629.112, 'duration': 9.484}, {'end': 2640.437, 'text': 'so this is the structure of the header.', 'start': 2638.596, 'duration': 1.841}, {'end': 2643.719, 'text': 'it has a block version number, basically the sequence number of the block.', 'start': 2640.437, 'duration': 3.282}, {'end': 2648.762, 'text': 'it has the hash of the previous block, the timestamp when the block was mined and verified.', 'start': 2643.719, 'duration': 5.043}, {'end': 2650.903, 'text': 'the nonce value, the header is.', 'start': 2648.762, 'duration': 2.141}, {'end': 2655.225, 'text': 'then this entire header is then passed through a hashing algorithm.', 'start': 2650.903, 'duration': 4.322}], 'summary': 'Blockchain header contains previous hash, timestamp, nonce, and transaction details in a merkle tree structure.', 'duration': 40.342, 'max_score': 2469.442, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM2469442.jpg'}, {'end': 2732.659, 'src': 'embed', 'start': 2704.395, 'weight': 8, 'content': [{'end': 2710.616, 'text': 'Now this would raise an alarm among the users informing them that data alteration has taken place.', 'start': 2704.395, 'duration': 6.221}, {'end': 2714.357, 'text': 'The users will then be able to flag the block.', 'start': 2710.856, 'duration': 3.501}, {'end': 2719.423, 'text': 'So the alteration can be easily identified and rectified immediately.', 'start': 2714.717, 'duration': 4.706}, {'end': 2724.089, 'text': 'To ensure security, blockchain also include digital signatures.', 'start': 2719.583, 'duration': 4.506}, {'end': 2732.659, 'text': 'These ensure that the message come from the right identity, right person and that the message is not tampered with.', 'start': 2724.469, 'duration': 8.19}], 'summary': 'Blockchain raises alarm for data alteration, allows users to flag and ensures security with digital signatures.', 'duration': 28.264, 'max_score': 2704.395, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM2704395.jpg'}, {'end': 2913.823, 'src': 'heatmap', 'start': 2763.694, 'weight': 0.85, 'content': [{'end': 2768.458, 'text': 'so these are the steps involved in creating and authenticating a digital signature.', 'start': 2763.694, 'duration': 4.764}, {'end': 2774.142, 'text': 'so at the sender side, the message to be transmitted is passed through the hashing algorithm.', 'start': 2768.458, 'duration': 5.684}, {'end': 2782.588, 'text': 'in in this case of Bitcoin, it is SHA-256 and the hash is generated, plus the private key is used to generate a digital signature.', 'start': 2774.142, 'duration': 8.446}, {'end': 2789.974, 'text': 'now this output is passed through a signature algorithm along with the users private key to create a digital signature.', 'start': 2782.588, 'duration': 7.386}, {'end': 2797.697, 'text': "Now, during the transmission, the user's message, their digital fingerprint, which was generated in the previous step, plus the public key,", 'start': 2790.154, 'duration': 7.543}, {'end': 2799.418, 'text': 'are transmitted across the network.', 'start': 2797.697, 'duration': 1.721}, {'end': 2806.421, 'text': 'So these three things are published on the network for the validator, for the miners to use and verify the authenticity of the sender.', 'start': 2799.438, 'duration': 6.983}, {'end': 2811.427, 'text': "Now at the receiver's end, first the message is passed through a hashing algorithm.", 'start': 2806.661, 'duration': 4.766}, {'end': 2818.495, 'text': "Now at the same time, the sender's public key and his or her digital signature are passed through a verification algorithm.", 'start': 2811.587, 'duration': 6.908}, {'end': 2821.278, 'text': 'Now both the functions will generate a hash.', 'start': 2818.675, 'duration': 2.603}, {'end': 2830.002, 'text': 'if both the hashes are compared and if they match, then the transaction and the identity of the sender is approved.', 'start': 2821.718, 'duration': 8.284}, {'end': 2831.262, 'text': 'otherwise it is rejected.', 'start': 2830.002, 'duration': 1.26}, {'end': 2837.725, 'text': 'so basically, this is the process, by comparing the hash values to authenticate the identity of the sender.', 'start': 2831.262, 'duration': 6.463}, {'end': 2842.787, 'text': 'now, what about the people who verify these transactions and how do they actually do it?', 'start': 2837.725, 'duration': 5.062}, {'end': 2850.23, 'text': 'so remember that one field in the block header called norms that becomes very important in order to verify the transaction.', 'start': 2842.787, 'duration': 7.443}, {'end': 2855.854, 'text': 'so now we will talk about the third feature, which is the proof of work consensus algorithm.', 'start': 2850.47, 'duration': 5.384}, {'end': 2862.159, 'text': 'so proof of work involves people around the world, the participants in the network called miners,', 'start': 2855.854, 'duration': 6.305}, {'end': 2868.764, 'text': 'competing to be the first one to add a block to the blockchain and in lieu of this they will be rewarded.', 'start': 2862.159, 'duration': 6.605}, {'end': 2870.986, 'text': 'there are competing miners around the world.', 'start': 2868.764, 'duration': 2.222}, {'end': 2878.572, 'text': 'they are trying to solve a mathematical puzzle to be the first one to be rewarded and to add a block to the blockchain.', 'start': 2870.986, 'duration': 7.586}, {'end': 2880.054, 'text': 'so this is the reward.', 'start': 2878.852, 'duration': 1.202}, {'end': 2882.897, 'text': 'so thereby they invest in the computing power.', 'start': 2880.054, 'duration': 2.843}, {'end': 2888.684, 'text': 'they invest in the resources in order to mine and validate a transaction to get that reward.', 'start': 2882.897, 'duration': 5.787}, {'end': 2891.607, 'text': 'now, what is the mathematical puzzle?', 'start': 2888.684, 'duration': 2.923}, {'end': 2897.354, 'text': 'so, basically, they need to find a hash value that satisfies certain predefined conditions.', 'start': 2891.607, 'duration': 5.747}, {'end': 2901.096, 'text': 'Now, in order to find the hash value, they will use norms.', 'start': 2897.614, 'duration': 3.482}, {'end': 2906.259, 'text': 'So this target hash value is decided months in advance for every block.', 'start': 2901.236, 'duration': 5.023}, {'end': 2913.823, 'text': 'The miners keep variating the norms value to find out an output that falls within the target requirement.', 'start': 2906.519, 'duration': 7.304}], 'summary': 'Creating and authenticating digital signatures using hashing, private/public keys, and verification algorithms; miners compete using proof of work consensus algorithm to add blocks to the blockchain and validate transactions.', 'duration': 150.129, 'max_score': 2763.694, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM2763694.jpg'}], 'start': 2317.029, 'title': 'Blockchain fundamentals', 'summary': 'Covers the public nature of blockchain, immutability, decentralization, and security features, along with the structure of a blockchain block, including header attributes, transaction details, hashing algorithms, digital signatures, proof of work, and miner rewards.', 'chapters': [{'end': 2439.282, 'start': 2317.029, 'title': 'Blockchain basics', 'summary': 'Explains the public nature of blockchain, where all transactions are accessible to network participants, and highlights the features of immutability, decentralization, and security through hashing encryption.', 'duration': 122.253, 'highlights': ['Blockchain data is accessible to all network participants, allowing access to the entire transaction history since its inception, ensuring transparency and auditability.', 'Any additions to the blockchain require approval from a majority of network members, ensuring decentralized control and consensus in the network.', 'Blockchain transactions are immutable and permanent, providing constant audit and verification, enhancing security and trust.', 'Hashing encryption ensures privacy and security in a public blockchain network, maintaining the integrity of data and preventing unauthorized modifications.']}, {'end': 3026.563, 'start': 2439.282, 'title': 'Blockchain block structure', 'summary': 'Explains the structure of a blockchain block, covering the header attributes, transaction details, hashing algorithms, digital signatures, proof of work consensus algorithm, and miner rewards in adding a block to the blockchain.', 'duration': 587.281, 'highlights': ['The header of a block includes the block version number, hash of the previous block, timestamp, nonce, and is passed through a hashing algorithm to generate a 256-bit hash value. The header of a block contains key attributes such as block version number, hash of the previous block, timestamp, and nonce, which are essential for linking blocks and ensuring integrity.', 'The transaction details in a block are structured in a Merkle tree, and the hash value of the root node is called the Merkle root hash, calculated by passing each transaction through a hashing algorithm. Transaction details in a block are organized in a Merkle tree, and the hash value of the root node, known as Merkle root hash, is crucial for maintaining data integrity and security.', 'Blockchain utilizes a hash function such as SHA-256 to perform cryptography, ensuring data integrity, and security properties like determinism and one-way computation. Blockchain employs hash functions like SHA-256 to provide cryptographic security, ensuring data integrity, and properties like determinism and one-way computation.', 'The proof of work consensus algorithm involves miners competing to add a block to the blockchain, where they invest in computing power and resources to solve a mathematical puzzle and are rewarded with bitcoins. The proof of work algorithm requires miners to compete in solving a mathematical puzzle to add a block, investing resources and computing power, and being rewarded with bitcoins.', 'Miners are rewarded for adding a block to the blockchain, receiving bitcoins and transaction fees, with the reward halving every four years, and the process being resource-intensive. Miners receive rewards in bitcoins and transaction fees for adding a block to the blockchain, but the reward decreases over time, reflecting the resource-intensive nature of the process.']}], 'duration': 709.534, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM2317029.jpg', 'highlights': ['Blockchain data is accessible to all network participants, ensuring transparency and auditability.', 'Any additions to the blockchain require approval from a majority of network members, ensuring decentralized control and consensus.', 'Blockchain transactions are immutable and permanent, enhancing security and trust.', 'Hashing encryption ensures privacy and security in a public blockchain network, preventing unauthorized modifications.', 'The header of a block includes key attributes such as block version number, hash of the previous block, timestamp, and nonce, essential for linking blocks and ensuring integrity.', 'Transaction details in a block are organized in a Merkle tree, crucial for maintaining data integrity and security.', 'Blockchain employs hash functions like SHA-256 to provide cryptographic security, ensuring data integrity and properties like determinism and one-way computation.', 'The proof of work algorithm requires miners to compete in solving a mathematical puzzle to add a block, being rewarded with bitcoins.', 'Miners receive rewards in bitcoins and transaction fees for adding a block to the blockchain, reflecting the resource-intensive nature of the process.']}, {'end': 4625.926, 'segs': [{'end': 3052.943, 'src': 'embed', 'start': 3026.563, 'weight': 0, 'content': [{'end': 3033.369, 'text': 'now we will take a look at the use cases where blockchain is applicable in banks,', 'start': 3026.563, 'duration': 6.806}, {'end': 3038.594, 'text': 'so we have been incorporating a program where banks can validate user identity.', 'start': 3033.369, 'duration': 5.225}, {'end': 3044.118, 'text': 'As of now, a user needs to do the process over and over again in each bank.', 'start': 3039.094, 'duration': 5.024}, {'end': 3048.04, 'text': 'He has to go and prove the identity in each bank.', 'start': 3044.418, 'duration': 3.622}, {'end': 3052.943, 'text': 'Is there a way we can ease the process with blockchain? And the answer is yes, we can.', 'start': 3048.24, 'duration': 4.703}], 'summary': 'Blockchain can streamline user identity validation in banks, reducing repetitive processes for users.', 'duration': 26.38, 'max_score': 3026.563, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM3026563.jpg'}, {'end': 3162.477, 'src': 'embed', 'start': 3128.373, 'weight': 11, 'content': [{'end': 3134.816, 'text': 'Now once this contract is ready we will be placing it in our sample truffle package.', 'start': 3128.373, 'duration': 6.443}, {'end': 3139.658, 'text': 'So this is my truffle package and in this I have the contracts folder.', 'start': 3135.216, 'duration': 4.442}, {'end': 3143.84, 'text': 'In the contracts folder I have kept my kyc.sol file.', 'start': 3139.878, 'duration': 3.962}, {'end': 3150.369, 'text': 'Now in the command prompt I will compile my contract.', 'start': 3145.04, 'duration': 5.329}, {'end': 3154.185, 'text': 'We can ignore the warnings.', 'start': 3153.121, 'duration': 1.064}, {'end': 3162.477, 'text': 'So here is my Gnash client, which I have just started, and in my Gnash client, as you can see,', 'start': 3156.872, 'duration': 5.605}], 'summary': 'Preparing contract for inclusion in sample truffle package for gnash client.', 'duration': 34.104, 'max_score': 3128.373, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM3128373.jpg'}, {'end': 3290.721, 'src': 'embed', 'start': 3257.018, 'weight': 4, 'content': [{'end': 3261.154, 'text': 'now I need to do add a KYC for a particular customer.', 'start': 3257.018, 'duration': 4.136}, {'end': 3284.977, 'text': 'Now, after filling the basic details, I will create the customer and the username I have kept as customer1..', 'start': 3278.151, 'duration': 6.826}, {'end': 3287.679, 'text': 'Ideally, this is the unique identity of the customer.', 'start': 3285.317, 'duration': 2.362}, {'end': 3290.721, 'text': 'It can be any social security number or Vidhar number,', 'start': 3287.779, 'duration': 2.942}], 'summary': 'Adding kyc for customer1 with unique identity using social security number or vidhar number.', 'duration': 33.703, 'max_score': 3257.018, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM3257018.jpg'}, {'end': 3392.785, 'src': 'embed', 'start': 3360.086, 'weight': 2, 'content': [{'end': 3361.868, 'text': 'now bank 2 is also logged in.', 'start': 3360.086, 'duration': 1.782}, {'end': 3369.537, 'text': 'now bank 2 has not done the original KYC right, but it is trying to look up and its access is also denied.', 'start': 3361.868, 'duration': 7.669}, {'end': 3372.06, 'text': 'so it needs to explicitly take permission.', 'start': 3369.537, 'duration': 2.523}, {'end': 3376.786, 'text': 'so the bank will take explicit request from the customer.', 'start': 3372.06, 'duration': 4.726}, {'end': 3383.9, 'text': 'so now the customer has request from bank 1 and bank 2 for the KYC.', 'start': 3377.537, 'duration': 6.363}, {'end': 3392.785, 'text': 'it is up to the customer whether he or she wants to allow and deny the KYC request after the permission has been granted.', 'start': 3383.9, 'duration': 8.885}], 'summary': 'Bank 2 needs permission for kyc. customer decides on request from both banks.', 'duration': 32.699, 'max_score': 3360.086, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM3360086.jpg'}, {'end': 3616.299, 'src': 'embed', 'start': 3588.083, 'weight': 8, 'content': [{'end': 3590.905, 'text': 'So these are the primary attributes of a blockchain.', 'start': 3588.083, 'duration': 2.822}, {'end': 3594.328, 'text': 'Also, you learned about Bitcoin and how it works.', 'start': 3591.205, 'duration': 3.123}, {'end': 3602.832, 'text': 'Just to do a quick recap, it was introduced in 2009 by someone or a group of pseudonymous people known as Satoshi Nakamoto.', 'start': 3594.628, 'duration': 8.204}, {'end': 3608.735, 'text': 'It aimed to solve the problems faced by fiat currencies with the help of blockchain technology.', 'start': 3603.152, 'duration': 5.583}, {'end': 3616.299, 'text': 'So the objective was to introduce a new asset class of cryptocurrencies which can be used in day-to-day transactions.', 'start': 3608.895, 'duration': 7.404}], 'summary': 'Blockchain attributes, bitcoin introduced in 2009 to solve fiat currency problems with the aim of introducing a new asset class of cryptocurrencies.', 'duration': 28.216, 'max_score': 3588.083, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM3588083.jpg'}, {'end': 3678.079, 'src': 'embed', 'start': 3631.991, 'weight': 9, 'content': [{'end': 3636.715, 'text': 'it uses a hashing encryption to encrypt all the information on the blockchain.', 'start': 3631.991, 'duration': 4.724}, {'end': 3649.403, 'text': 'it uses proof-of-work consensus algorithm for a consensus mechanism and it works with the concept of mining in order to reward the miners for keeping them and maintaining the sanity of the network.', 'start': 3636.715, 'duration': 12.688}, {'end': 3654.005, 'text': 'and, finally, about how you can implement blockchain in a banking system.', 'start': 3649.403, 'duration': 4.602}, {'end': 3678.079, 'text': 'so we talked about how to implement a kyc based blockchain decentralized app and how it allows you to create a decentralized banking system where a KYC done by a one bank can be leveraged by another bank and the customer does not have to go through multiple KYC iterations with each and every bank whom he or she wants to transact with.', 'start': 3654.005, 'duration': 24.074}], 'summary': 'Blockchain uses hashing encryption, proof-of-work consensus, and enables interoperable kyc for decentralized banking.', 'duration': 46.088, 'max_score': 3631.991, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM3631991.jpg'}, {'end': 4223.753, 'src': 'heatmap', 'start': 4076.497, 'weight': 0.711, 'content': [{'end': 4082.681, 'text': 'Now this is achieved by selecting the subchain to which miners have first added a block.', 'start': 4076.497, 'duration': 6.184}, {'end': 4087.525, 'text': 'So suppose miner3 adds a new block to miners1 blockchain.', 'start': 4082.961, 'duration': 4.564}, {'end': 4092.448, 'text': 'This block now added by miner3 is verified by everyone in the network.', 'start': 4087.845, 'duration': 4.603}, {'end': 4098.471, 'text': 'It is then accepted as the dominant blockchain and is used by everyone else in the network.', 'start': 4092.628, 'duration': 5.843}, {'end': 4101.694, 'text': 'the other version of the blockchain, the miner 2,', 'start': 4098.792, 'duration': 2.902}, {'end': 4111.12, 'text': "is completely discarded and the entire network now accepts miner 1's blockchain and we have now a single blockchain existing.", 'start': 4101.694, 'duration': 9.426}, {'end': 4118.725, 'text': 'now this situation is also called an accidental fork, so i heard about a version of bitcoin called bitcoin cash.', 'start': 4111.12, 'duration': 7.605}, {'end': 4120.486, 'text': "what's the difference between them?", 'start': 4118.725, 'duration': 1.761}, {'end': 4124.448, 'text': 'there are other kinds too, like bitcoin gold and bitcoin private.', 'start': 4120.486, 'duration': 3.962}, {'end': 4127.01, 'text': 'these are all outcomes of a fork.', 'start': 4124.448, 'duration': 2.562}, {'end': 4128.238, 'text': 'So what is a fork??', 'start': 4127.438, 'duration': 0.8}, {'end': 4134.783, 'text': 'A fork is said to have taken place when a blockchain diverges into two potential paths.', 'start': 4128.658, 'duration': 6.125}, {'end': 4145.81, 'text': "A fork happens when the users of a network cannot come to an agreement with regards to a network's transaction details and the new rules to validate those transactions.", 'start': 4135.183, 'duration': 10.627}, {'end': 4148.372, 'text': 'So there are two types of forks which can exist.', 'start': 4146.109, 'duration': 2.263}, {'end': 4151.854, 'text': 'Either it can be a soft fork or it can be a hard fork.', 'start': 4148.671, 'duration': 3.183}, {'end': 4161.919, 'text': 'A soft fork occurs when a change in the soft fork protocol makes new blocks added to the blockchain following the new rules but are backward compatible.', 'start': 4152.194, 'duration': 9.725}, {'end': 4169.662, 'text': 'But in order to have a soft fork, it requires a majority of the users to commit to that change to be successful.', 'start': 4162.198, 'duration': 7.464}, {'end': 4173.305, 'text': 'A soft fork could have multiple uses.', 'start': 4170.183, 'duration': 3.122}, {'end': 4180.732, 'text': 'It could be for tighter rules, it could be for cosmetic changes, addition of new functions but not affecting the structure.', 'start': 4173.526, 'duration': 7.206}, {'end': 4188.078, 'text': 'Consider the scenario where the accepted block size is to be reduced from 1 MB to 100 KB.', 'start': 4181.112, 'duration': 6.966}, {'end': 4192.121, 'text': 'So first of all it has to be approved by a majority of the network.', 'start': 4188.258, 'duration': 3.863}, {'end': 4200.907, 'text': 'Now the old version will be running on 1 MB block size but once approved the new version will start working on a block size of 100 KB.', 'start': 4192.441, 'duration': 8.466}, {'end': 4208.651, 'text': 'So anything which is less than 100 KB will be approved and will be added to the new block.', 'start': 4201.227, 'duration': 7.424}, {'end': 4216.205, 'text': 'over time, people following the older version of the blockchain would be forced to move to the new one,', 'start': 4209.398, 'duration': 6.807}, {'end': 4218.648, 'text': 'since none of their transactions would go through.', 'start': 4216.205, 'duration': 2.443}, {'end': 4223.753, 'text': 'so, basically, people using the old blockchain, they will be using the 1 mb block size,', 'start': 4218.648, 'duration': 5.105}], 'summary': 'Forks in blockchain create new versions; soft fork needs majority approval, hard fork diverges into two paths.', 'duration': 147.256, 'max_score': 4076.497, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM4076497.jpg'}, {'end': 4625.926, 'src': 'embed', 'start': 4585.491, 'weight': 6, 'content': [{'end': 4588.313, 'text': "and i'll just change this address.", 'start': 4585.491, 'duration': 2.822}, {'end': 4594.978, 'text': 'now, once this rating address is changed, i have to go back to my movie rating app folder.', 'start': 4588.313, 'duration': 6.665}, {'end': 4599.161, 'text': 'under app ui, i have to give the command npm start.', 'start': 4594.978, 'duration': 4.183}, {'end': 4616.354, 'text': 'Now my application is up and running on localhost 3000 and, as you see,', 'start': 4609.747, 'duration': 6.607}, {'end': 4625.926, 'text': 'I am able to do the voting and at each rating level my block is going to increase block 6, inception, block 7,', 'start': 4616.354, 'duration': 9.572}], 'summary': "Changed address, ran 'npm start', app running on localhost 3000, able to vote and increase ratings.", 'duration': 40.435, 'max_score': 4585.491, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM4585491.jpg'}], 'start': 3026.563, 'title': 'Blockchain applications in banks', 'summary': 'Covers the application of blockchain technology in banks, focusing on streamlining the kyc process using truffle, ethereum, gnash, and smart contracts. it explains deploying a kyc contract on a local blockchain network, involving 10 pre-funded accounts with 100 ether, 2 banks, and 1 customer. it also discusses blockchain basics, byzantine fault tolerance, and the current adoption of blockchain technologies, indicating an expected increase in the next five years.', 'chapters': [{'end': 3128.253, 'start': 3026.563, 'title': 'Blockchain in banks: kyc application', 'summary': "Discusses the application of blockchain technology in banks, focusing on streamlining the know your customer (kyc) process by utilizing truffle, ethereum, gnash, and smart contracts to create a decentralized kyc application, enabling customers' identity verification to be shared across multiple banks.", 'duration': 101.69, 'highlights': ['Blockchain technology is utilized to streamline the Know Your Customer (KYC) process by creating a decentralized application using Truffle, Ethereum, Gnash, and smart contracts.', 'The KYC application allows banks to perform decentralized KYC for customers, enabling subsequent banks to utilize the same KYC for verification with customer permission.', 'The KYC solidity contract has been developed with necessary functions to facilitate the KYC process for a particular entity by the bank.']}, {'end': 3453.233, 'start': 3128.373, 'title': 'Deploying and interacting with solidity contract on local blockchain', 'summary': 'Explains the process of deploying a kyc contract on a local blockchain network using truffle, interacting with the contract through banks and customers, and the permission-based access control flow, involving a total of 10 pre-funded accounts with 100 ether, 2 banks, and 1 customer.', 'duration': 324.86, 'highlights': ['The chapter describes the deployment process of a KYC contract on a local blockchain network using Truffle, connected to Gnash client running on port 8545 and pre-funded with 10 accounts having 100 Ether each.', 'It details the steps for banks to sign up, create customer KYC profiles, and perform permission-based access control for viewing KYC details, where the customer approves or denies access requests from different banks.', 'The highlighted information explains the interaction process between banks and a customer to access KYC details, involving permission requests, approvals, and denials, emphasizing the permission-based access control mechanism on the local blockchain network.']}, {'end': 3764.206, 'start': 3455.962, 'title': 'Blockchain basics and kyc application', 'summary': 'Illustrates the process of interfacing with a contract, accessing kyc records in a decentralized manner, and explores the attributes and features of blockchain technology, including its use in a banking system, along with a preview of upcoming topics and a demonstration of creating a smart contract.', 'duration': 308.244, 'highlights': ['Blockchain is a list of records storing data publicly in chronological order, secured using cryptography, and not controlled by a centralized authority. Describes the primary attributes of blockchain technology, emphasizing its public, secure, and decentralized nature.', "Bitcoin, introduced in 2009, aimed to solve problems faced by fiat currencies using blockchain technology, leading to the emergence of over 1600 cryptocurrencies by 2018. Provides a historical overview of Bitcoin's introduction and its impact on the cryptocurrency landscape, quantifying the proliferation of cryptocurrencies.", 'The process of interfacing with a contract to access KYC records in a decentralized manner, allowing modification of details and addition of new customers. Highlights the practical application of blockchain technology in a banking environment, specifically in accessing and managing KYC records.']}, {'end': 4326.282, 'start': 3764.486, 'title': 'Byzantine fault tolerance in blockchain', 'summary': 'Discusses the concept of byzantine fault tolerance in blockchain to ensure network reliability and consensus, including the use of proof of work to prevent invalid transactions. it also explores the process of handling simultaneous block additions and the impact of soft and hard forks on the blockchain.', 'duration': 561.796, 'highlights': ['Byzantine fault tolerance ensures network reliability and consensus in blockchain by using proof of work to prevent invalid transactions. The chapter discusses how Byzantine fault tolerance is used in blockchain to ensure network reliability and consensus, with the help of proof of work to prevent the addition of invalid transactions.', 'Proof of work in blockchain involves a work-intensive process using a hashing algorithm, making it computatively hard to produce sufficient proof of work for adding a block. The process of adding a block to a blockchain through proof of work is computatively hard, involving a work-intensive process using a hashing algorithm, which deters the addition of invalid transactions.', "Soft forks and hard forks are two types of changes that can occur in the blockchain, impacting the network's transaction details and validation rules. The chapter explains the difference between soft forks and hard forks, detailing how these changes impact the blockchain's transaction details and validation rules."]}, {'end': 4625.926, 'start': 4326.602, 'title': 'Blockchain adoption and job opportunities', 'summary': 'Discusses the current adoption of blockchain technologies, indicating that only 1% of organizations are currently using it, with an expected increase in the next five years. it also highlights the need for clear regulations, dispelling negative speculations, and the rise in job opportunities for skilled personnel, particularly as blockchain technology matures.', 'duration': 299.324, 'highlights': ['Blockchain technology adoption is currently at 1% with an expected increase in the next five years, indicating a growing trend in its usage.', 'The need for clear regulations and dispelling negative speculations surrounding blockchain is crucial for organizations to comfortably adopt and move towards faster adoption.', 'The rise in job opportunities for skilled personnel is expected as blockchain technology matures, particularly in roles such as blockchain architect and blockchain developer.', 'The profile of a blockchain developer involves designing, implementing, and supporting a distributed blockchain network, with an analysis of user requirements and designing technology around a specific business model.', 'The role of a blockchain architect requires designing and architecting blockchain industry solutions, creating blockchain networks, and producing high-quality code based on project requirements.', 'The demonstration showcases the deployment of a rating smart contract and a decentralized application running on a local blockchain network, utilizing Truffle and Ganache for building the application.', 'The process involves compiling the smart contract, deploying it on the Ganache client, and initializing the smart contract with predefined parameters, leading to the successful deployment and running of the application on localhost 3000.']}], 'duration': 1599.363, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM3026563.jpg', 'highlights': ['Blockchain technology streamlines KYC process using Truffle, Ethereum, Gnash, and smart contracts.', 'KYC application enables decentralized KYC for customers, allowing subsequent banks to use the same KYC.', 'KYC solidity contract facilitates the KYC process for a particular entity by the bank.', 'Deployment process of a KYC contract on a local blockchain network using Truffle and Gnash client.', 'Steps for banks to sign up, create customer KYC profiles, and perform permission-based access control.', 'Blockchain is a public, secure, and decentralized list of records storing data chronologically.', "Bitcoin's introduction in 2009 led to over 1600 cryptocurrencies by 2018, quantifying the proliferation.", 'Interfacing with a contract to access and manage KYC records in a banking environment.', 'Byzantine fault tolerance ensures network reliability and consensus in blockchain.', 'Proof of work in blockchain involves a work-intensive process using a hashing algorithm.', "Explanation of soft forks and hard forks, detailing their impact on blockchain's transaction details.", 'Current blockchain technology adoption is at 1% with an expected increase in the next five years.', 'Clear regulations and dispelling negative speculations are crucial for comfortable blockchain adoption.', 'Expected rise in job opportunities for skilled personnel as blockchain technology matures.', 'Profile of a blockchain developer and the role of a blockchain architect.', 'Demonstration of deploying a rating smart contract and a decentralized application on a local blockchain network.']}, {'end': 6291.273, 'segs': [{'end': 4792.537, 'src': 'embed', 'start': 4761.284, 'weight': 5, 'content': [{'end': 4763.547, 'text': 'But there are several ways where this could have gone wrong.', 'start': 4761.284, 'duration': 2.263}, {'end': 4765.468, 'text': 'There could have been a technical issue at the bank.', 'start': 4763.827, 'duration': 1.641}, {'end': 4769.553, 'text': "For example, their systems could have been down, the machines weren't working properly and so on.", 'start': 4765.729, 'duration': 3.824}, {'end': 4772.235, 'text': "That means there's a central point of failure, which is the bank.", 'start': 4769.733, 'duration': 2.502}, {'end': 4774.237, 'text': "The user's accounts could have gotten hacked.", 'start': 4772.456, 'duration': 1.781}, {'end': 4778.001, 'text': 'For example, there could have been a DDoS attack or identity theft and so on.', 'start': 4774.418, 'duration': 3.583}, {'end': 4780.644, 'text': 'Or the transfer limits for that account were exceeded.', 'start': 4778.402, 'duration': 2.242}, {'end': 4784.128, 'text': 'This is why the future of currency lies with cryptocurrency.', 'start': 4780.904, 'duration': 3.224}, {'end': 4787.211, 'text': 'Now imagine the transaction between two people in the future.', 'start': 4784.628, 'duration': 2.583}, {'end': 4792.537, 'text': "One of them has the bitcoin app and there's a notification asking whether they're sure they're ready to transfer 5 bitcoins.", 'start': 4787.531, 'duration': 5.006}], 'summary': 'Potential issues in traditional banking systems lead to the future of currency lying in cryptocurrency, exemplified by a secure 5-bitcoin transaction scenario.', 'duration': 31.253, 'max_score': 4761.284, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM4761284.jpg'}, {'end': 4920.5, 'src': 'embed', 'start': 4892.089, 'weight': 6, 'content': [{'end': 4896.674, 'text': "you'll know that if you're transferring money from your wallet to your bank account, you'll lose some amount of money.", 'start': 4892.089, 'duration': 4.585}, {'end': 4898.556, 'text': 'You have 24x7 access to money.', 'start': 4896.955, 'duration': 1.601}, {'end': 4902.981, 'text': "You can't just walk up to your bank at 3am in the morning and say that you want to withdraw some money.", 'start': 4898.857, 'duration': 4.124}, {'end': 4905.224, 'text': "There's no limits on purchases and withdrawals.", 'start': 4903.262, 'duration': 1.962}, {'end': 4907.086, 'text': "There's freedom for anyone to use.", 'start': 4905.564, 'duration': 1.522}, {'end': 4912.191, 'text': "For example, if you're setting up an account in your bank, you need to do some amount of paperwork and documentation.", 'start': 4907.286, 'duration': 4.905}, {'end': 4914.574, 'text': 'With cryptocurrencies, all of that can be avoided.', 'start': 4912.471, 'duration': 2.103}, {'end': 4916.656, 'text': 'International transactions are faster.', 'start': 4914.934, 'duration': 1.722}, {'end': 4920.5, 'text': 'Now wire transfers take about half a day to transfer money from one place to another.', 'start': 4916.976, 'duration': 3.524}], 'summary': 'Cryptocurrencies enable faster international transactions and eliminate paperwork, with wire transfers taking about half a day.', 'duration': 28.411, 'max_score': 4892.089, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM4892089.jpg'}, {'end': 5008.401, 'src': 'embed', 'start': 4977.976, 'weight': 4, 'content': [{'end': 4980.138, 'text': "This is done by using the sender's public key.", 'start': 4977.976, 'duration': 2.162}, {'end': 4984.564, 'text': "The people who verify the transaction to check whether it's valid or not are known as miners.", 'start': 4980.379, 'duration': 4.185}, {'end': 4990.028, 'text': 'Now after this is done, the transaction and several others are added to the blockchain where it cannot be changed again.', 'start': 4984.744, 'duration': 5.284}, {'end': 4992.911, 'text': 'If the concepts of hashing seem a little difficult to you,', 'start': 4990.329, 'duration': 2.582}, {'end': 4997.935, 'text': 'I would suggest you click on the top right corner and watch the blockchain explain video so that you can understand better.', 'start': 4992.911, 'duration': 5.024}, {'end': 5001.958, 'text': 'Now the SHA-256 algorithm like I told you earlier looks something like this.', 'start': 4998.235, 'duration': 3.723}, {'end': 5008.401, 'text': "Now seeing how complicated it looks, I'm sure it's safe to say that the encryption is very difficult to hack.", 'start': 5002.879, 'duration': 5.522}], 'summary': 'Miners verify transactions and add them to blockchain, using secure sha-256 algorithm.', 'duration': 30.425, 'max_score': 4977.976, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM4977976.jpg'}, {'end': 5140.655, 'src': 'embed', 'start': 5113.616, 'weight': 0, 'content': [{'end': 5119.237, 'text': 'Ether is expected to be around for a while but not to exceed 100 million units.', 'start': 5113.616, 'duration': 5.621}, {'end': 5122.74, 'text': 'Bitcoin is used for transactions involving goods and services,', 'start': 5119.697, 'duration': 3.043}, {'end': 5128.345, 'text': 'and Ether uses blockchain technology to create a ledger to trigger a transaction when a certain condition is met.', 'start': 5122.74, 'duration': 5.605}, {'end': 5134.75, 'text': 'For Bitcoin, we use an algorithm called SHA-256 for hashing and with Ethereum, we use ETHash.', 'start': 5128.645, 'duration': 6.105}, {'end': 5140.655, 'text': 'As of July 23, 2018, one Bitcoin equals $7,668.', 'start': 5135.11, 'duration': 5.545}], 'summary': 'Ether expected to stay, limit at 100m units. bitcoin: $7,668 on july 23, 2018.', 'duration': 27.039, 'max_score': 5113.616, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM5113616.jpg'}, {'end': 5480.51, 'src': 'embed', 'start': 5450.562, 'weight': 2, 'content': [{'end': 5454.744, 'text': 'so it removes the risk of any data manipulation or alteration.', 'start': 5450.562, 'duration': 4.182}, {'end': 5462.873, 'text': "Now let's check another example where Jack has given a contract of $500 to Elsa for developing his company's website.", 'start': 5454.964, 'duration': 7.909}, {'end': 5468.679, 'text': "Now the developers code the agreement of smart contract using Ethereum's programming language.", 'start': 5463.033, 'duration': 5.646}, {'end': 5474.585, 'text': 'Now the smart contract has all the conditions, the requirements for building the website.', 'start': 5469.02, 'duration': 5.565}, {'end': 5480.51, 'text': 'once the code is written, it is uploaded and deployed on the ethereum evm virtual machine.', 'start': 5474.585, 'duration': 5.925}], 'summary': "Smart contract for $500 website built using ethereum's programming language.", 'duration': 29.948, 'max_score': 5450.562, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM5450562.jpg'}, {'end': 5879.413, 'src': 'embed', 'start': 5848.993, 'weight': 1, 'content': [{'end': 5854.676, 'text': 'Now, however proof of stake is not widely adopted as of now as compared to proof of work algorithm.', 'start': 5848.993, 'duration': 5.683}, {'end': 5857.137, 'text': 'Now, let us understand the concept of gas.', 'start': 5854.736, 'duration': 2.401}, {'end': 5861.379, 'text': 'Now, Ethereum virtual machine has a concept of gas and why do we need it.', 'start': 5857.357, 'duration': 4.022}, {'end': 5867.883, 'text': 'So, like we need fuel to run car in the same way in order to run application on Ethereum network.', 'start': 5861.479, 'duration': 6.404}, {'end': 5870.365, 'text': 'gas. Now, what is gas??', 'start': 5868.903, 'duration': 1.462}, {'end': 5879.413, 'text': 'To perform any transaction on Ethereum network, a user has to make a payment, has to shell out ethers in order to get the execution done,', 'start': 5870.525, 'duration': 8.888}], 'summary': 'Proof of stake adoption is less compared to proof of work. ethereum network requires gas for transactions.', 'duration': 30.42, 'max_score': 5848.993, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM5848993.jpg'}], 'start': 4625.926, 'title': 'Evolution of currency, cryptocurrency overview, ethereum, and decentralized organizations', 'summary': "Explores the evolution of currency, advantages of cryptocurrency, basics of cryptocurrencies, including bitcoin and ether, ethereum's features, smart contracts, ethereum virtual machine, gas in ethereum, and decentralized applications, with a focus on ensuring secure and efficient transactions and potential future developments.", 'chapters': [{'end': 4811.098, 'start': 4625.926, 'title': 'Evolution of currency', 'summary': 'Explores the evolution of currency from the barter system to modern-day digital wallets, highlighting the flaws of the barter system and the advantages of cryptocurrency, ultimately emphasizing its potential to address the limitations of traditional banking systems and ensure secure and efficient transactions.', 'duration': 185.172, 'highlights': ["Cryptocurrency's potential to address the limitations of traditional banking systems and ensure secure and efficient transactions. The chapter emphasizes the future of currency lying with cryptocurrency due to its ability to authenticate user identity, ensure required balance for transactions, and simplify payments, ultimately removing the problems of modern banking.", "Flaws of the barter system and the need for a common measure of value and easy transportation of goods. The flaws of the barter system include the absence of a common measure of value, difficulty in dividing or transporting certain goods, and the requirement for mutual coincidence of people's needs.", 'Evolution of currency from the barter system to modern-day digital wallets, coins, and credit cards. The evolution of currency is traced from the barter system to the introduction of official currency, gold-plated Florence, and the widespread popularity of paper currency, leading to the emergence of modern currency including digital wallets and credit cards.']}, {'end': 5178.526, 'start': 4811.318, 'title': 'Cryptocurrency: overview and future', 'summary': 'Discusses the basics of cryptocurrencies, including the features, benefits, and differences between bitcoin and ether. it also delves into the future of cryptocurrencies, including the conflicting viewpoints and the potential conflict between regulation and anonymity.', 'duration': 367.208, 'highlights': ["Cryptocurrencies are growing rapidly with over 1600 available as of 2018, and new ones emerging daily. As of 2018, there's more than 1600 cryptocurrencies available, with new ones cropping up every single day.", 'Bitcoin has a limit of 21 million units, and there is no central authority, making it decentralized. Bitcoin has a limit of 21 million units and operates independently of a bank or a central authority.', 'Cryptocurrencies offer little to no transaction costs, 24x7 access to money, no limits on purchases and withdrawals, and freedom for anyone to use. Cryptocurrencies offer little to no transaction costs, 24x7 access to money, no limits on purchases and withdrawals, and freedom for anyone to use.', "Ether is expected to not exceed 100 million units, and its transactions take about 20 seconds, unlike Bitcoin's 10 minutes. Ether is expected to not exceed 100 million units and its transactions take about 20 seconds, unlike Bitcoin's 10 minutes.", 'The future of cryptocurrencies is divided, with supporters like Bill Gates and opponents like Warren Buffet, leading to potential conflicts between regulation and anonymity. The future of cryptocurrencies is divided, with supporters like Bill Gates and opponents like Warren Buffet, leading to potential conflicts between regulation and anonymity.']}, {'end': 5848.873, 'start': 5178.666, 'title': 'Understanding ethereum and smart contracts', 'summary': "Discusses ethereum's features, including its use of cryptocurrency, smart contracts, the ethereum virtual machine, and decentralized applications, along with a demo on smart contract deployment. it also explores the ethereum virtual machine's role in compiling and deploying smart contracts and the potential development of proof of stake as an alternative to proof of work.", 'duration': 670.207, 'highlights': ['Ethereum Features Ethereum allows the development and deployment of decentralized applications, usage of its own cryptocurrency called Eth, and creation of decentralized autonomous organizations.', 'Smart Contracts on Ethereum Smart contracts on Ethereum facilitate the exchange of valuable assets between parties, are immutable once executed, and operate without the need for a centralized authority, ensuring transparent and trustworthy transactions.', 'Ethereum Virtual Machine (EVM) The Ethereum Virtual Machine (EVM) acts as a runtime environment for compiling and deploying Ethereum-based smart contracts, understanding the Solidity language, and guaranteeing security from cyber attacks.', 'Proof of Work and Proof of Stake The Ethereum network currently uses the proof of work consensus algorithm, but a process called proof of stake, meant to minimize resource usage, is under development as an alternative to proof of work.']}, {'end': 6291.273, 'start': 5848.993, 'title': 'Gas in ethereum & decentralized organizations', 'summary': 'Explains the concept of gas in ethereum, including its calculation, transaction fees, and relevance to running smart contracts, as well as the differences between ethereum and bitcoin mining, and the definition and functioning of decentralized applications and autonomous organizations.', 'duration': 442.28, 'highlights': ['Ethereum gas concept and calculation The intermediary monetary value called gas measures the computational power required to run a smart contract or a transaction on the Ethereum network, with the transaction fees calculated using the gas limit and gas price formula.', 'Ethereum and Bitcoin mining differences Ethereum uses the ithash algorithm, has a faster mining time of 12 to 15 seconds, and offers a mining reward of three ethers plus accumulated transaction fees, while Bitcoin uses SHA-256, with a longer mining time of 10 minutes and a reward of 12.5 btc.', 'Decentralized applications (dApps) and their architecture dApps operate on a distributed peer-to-peer network, rely on smart contracts for decision-making, and use public blockchain-based tokens as fuel for running the application, enabling direct interaction between end users and providers.', 'Decentralized autonomous organizations (DAOs) and their functioning DAOs operate without hierarchical management, rely on smart contracts for decision-making through a decentralized voting system, and allocate voting rights and shares to members based on their contributions.']}], 'duration': 1665.347, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM4625926.jpg', 'highlights': ["Cryptocurrency's potential to ensure secure and efficient transactions, authenticate user identity, and simplify payments.", 'Evolution of currency from the barter system to modern-day digital wallets, coins, and credit cards.', 'Cryptocurrencies are growing rapidly with over 1600 available as of 2018, and new ones emerging daily.', 'Bitcoin has a limit of 21 million units and operates independently of a central authority.', 'Ether is expected to not exceed 100 million units, and its transactions take about 20 seconds.', 'Ethereum allows the development and deployment of decentralized applications, usage of its own cryptocurrency called Eth, and creation of decentralized autonomous organizations.', 'Smart contracts on Ethereum facilitate the exchange of valuable assets between parties and operate without the need for a centralized authority.', 'The Ethereum Virtual Machine (EVM) acts as a runtime environment for compiling and deploying Ethereum-based smart contracts.', 'The intermediary monetary value called gas measures the computational power required to run a smart contract or a transaction on the Ethereum network.', 'dApps operate on a distributed peer-to-peer network, rely on smart contracts for decision-making, and use public blockchain-based tokens as fuel for running the application.']}, {'end': 8705.369, 'segs': [{'end': 6818.303, 'src': 'embed', 'start': 6778.421, 'weight': 1, 'content': [{'end': 6783.003, 'text': 'This is the default gas price in Ganesh and block number 5 is being mined.', 'start': 6778.421, 'duration': 4.582}, {'end': 6786.304, 'text': 'Now I can reread the value of the variable.', 'start': 6783.223, 'duration': 3.081}, {'end': 6790.646, 'text': 'Now it will return me the latest value which is changeGreedValue.', 'start': 6786.684, 'duration': 3.962}, {'end': 6801.712, 'text': 'So this demonstrates how to use a solidity contract, how to compile it, deploy it on a locally running blockchain network.', 'start': 6791.026, 'duration': 10.686}, {'end': 6810.718, 'text': 'you can connect multiple nodes to this ganache client and all the nodes should be running on the same network id, should have the same network id,', 'start': 6801.712, 'duration': 9.006}, {'end': 6813.54, 'text': 'but they can be running on a different machine.', 'start': 6810.718, 'duration': 2.822}, {'end': 6815.561, 'text': 'so here we can see all the other details.', 'start': 6813.54, 'duration': 2.021}, {'end': 6818.303, 'text': 'the block, the transactions which have happened.', 'start': 6815.561, 'duration': 2.742}], 'summary': 'Demonstration of using a solidity contract on a locally running blockchain network with multiple nodes and the same network id.', 'duration': 39.882, 'max_score': 6778.421, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM6778421.jpg'}, {'end': 7468.536, 'src': 'embed', 'start': 7440.589, 'weight': 0, 'content': [{'end': 7445.034, 'text': 'There are certain predefined terms and conditions which are already set in the contract.', 'start': 7440.589, 'duration': 4.445}, {'end': 7449.538, 'text': 'No voter can vote from a digital identity of any other voter.', 'start': 7445.174, 'duration': 4.364}, {'end': 7451.18, 'text': 'The counting is full proof.', 'start': 7449.758, 'duration': 1.422}, {'end': 7456.245, 'text': 'Every vote is registered on a blockchain network and the counting is happening automatically,', 'start': 7451.3, 'duration': 4.945}, {'end': 7460.449, 'text': 'without any interference from a third party or dependency on a manual process.', 'start': 7456.245, 'duration': 4.204}, {'end': 7464.693, 'text': 'So terms and condition each ID should be attributed to just one vote.', 'start': 7460.629, 'duration': 4.064}, {'end': 7468.536, 'text': 'The validation is done by the users on the blockchain network itself.', 'start': 7464.813, 'duration': 3.723}], 'summary': 'Voting process ensures one vote per digital id, with secure, automated counting on blockchain network.', 'duration': 27.947, 'max_score': 7440.589, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM7440589.jpg'}, {'end': 8478.406, 'src': 'embed', 'start': 8443.007, 'weight': 2, 'content': [{'end': 8445.808, 'text': 'it is run by a decentralized system.', 'start': 8443.007, 'duration': 2.801}, {'end': 8453.991, 'text': 'there is no centralized authority or the body, and the transactions are stored in containers, aggregated in containers called blocks.', 'start': 8445.808, 'duration': 8.183}, {'end': 8459.793, 'text': 'so a block is the smallest unit of a blockchain which records all the transaction.', 'start': 8453.991, 'duration': 5.802}, {'end': 8464.475, 'text': 'a basic structure of a block is something like this it has four fields.', 'start': 8459.793, 'duration': 4.682}, {'end': 8466.576, 'text': 'these are the primary attributes for block.', 'start': 8464.475, 'duration': 2.101}, {'end': 8469.058, 'text': 'it has something called as previous hash.', 'start': 8466.576, 'duration': 2.482}, {'end': 8478.406, 'text': "so the previous hash attribute stores the value of the hash of the previous block, and that's how the blocks are linked to each other data.", 'start': 8469.058, 'duration': 9.348}], 'summary': 'Blockchain operates decentralized with transactions in blocks linked by previous hash.', 'duration': 35.399, 'max_score': 8443.007, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM8443007.jpg'}], 'start': 6291.593, 'title': 'Applications and advantages of ethereum and smart contracts', 'summary': 'Discusses the diverse applications of ethereum in banking, shipping, supply chain, and smart contracts, along with the advantages of smart contracts over traditional contracts, including automation, transparency, traceability, and cost efficiency. it also provides practical examples, such as deploying a smart contract locally and creating erc20 tokens and crowdfunding smart contracts.', 'chapters': [{'end': 6818.303, 'start': 6291.593, 'title': 'Applications of ethereum in real world', 'summary': 'Discusses the wide-ranging applications of ethereum, including its adoption in banking, shipping, supply chain, and smart contracts, also providing a detailed guide on deploying a smart contract locally on ganache client.', 'duration': 526.71, 'highlights': ['The results of the polls are publicly available where it ensures a transparent and fair democracy by eliminating voting malpractices, and Ethereum is widely adopted in banking systems for remittances and payments.', 'Ethereum provides a provenance and tracking framework for any kind of asset required in a typical supply chain, and with smart contracts, agreements can be maintained and executed without any alteration, suitable for industries with fragmented participants and subject to disputes.', 'The detailed guide on deploying a smart contract locally on Ganache client, including steps for installation, creating a directory, running commands, compiling, deploying, and interacting with the contract, demonstrating the use of a solidity contract and its deployment on a locally running blockchain network.']}, {'end': 7287.542, 'start': 6818.303, 'title': 'Smart contracts: advantages and applications', 'summary': 'Explores the advantages of smart contracts over traditional contracts, highlighting benefits such as automation, transparency, traceability, security, and cost efficiency, and provides real-life examples of smart contract applications including flight delay insurance.', 'duration': 469.239, 'highlights': ['The primary advantages of smart contracts include automation, transparency, traceability, security, and cost efficiency, which enforce the move towards a smart contract economy.', 'Smart contracts eliminate the need for intermediaries, automate transaction processes, and ensure automatic execution based on predefined conditions, leading to lower transaction costs and advantages for end consumers.', 'A real-life example illustrates smart contracts as self-executing contracts written in code, executed on a blockchain, facilitating the exchange of digital assets and enabling a democratic system with anonymous participant identities.', 'An example of smart contract application is demonstrated through AXA flight delay insurance, where the smart contract is linked to flight status databases and enables automatic compensation when a flight is delayed for two hours or more based on predefined conditions.']}, {'end': 7604.155, 'start': 7287.542, 'title': 'Smart contracts and solidity', 'summary': 'Explains the importance of smart contracts for automation, efficiency, and accuracy, highlighting the advantages of using solidity for developing smart contracts, and provides an example of a voting solidity contract for decentralized decision making.', 'duration': 316.613, 'highlights': ['Smart contracts enable automation, efficiency, and accuracy, with advantages including no intermediaries, automated processes, high speed execution, data immutability, and accuracy in recording terms and conditions. No intermediaries involved, high-speed execution, data immutability, and accurate recording of terms and conditions.', 'Solidity is a high-level Turing complete programming language widely used for implementing smart contracts on the blockchain platform, offering runtime checking, loop structures, and various operators for writing code and conditions. Widely used for implementing smart contracts, runtime checking, loop structures, and various operators for writing code and conditions.', 'Implementation of smart contracts in voting processes can eliminate malpractices inherent in centralized voting systems, ensuring full-proof counting, prevention of voter manipulation, and transparent, immutable recording of votes on a blockchain network. Elimination of malpractices in centralized voting systems, full-proof counting, prevention of voter manipulation, and transparent recording of votes on a blockchain network.']}, {'end': 8173.971, 'start': 7604.275, 'title': 'Deploying voting smart contract on ethereum', 'summary': 'Discusses the process of deploying a voting smart contract on the ethereum test network ropsten, requiring metamask and test ethers, and also covers examples of creating erc20 tokens and crowdfunding smart contracts.', 'duration': 569.696, 'highlights': ['The chapter discusses the process of deploying a voting smart contract on the Ethereum test network Ropsten, requiring MetaMask and test ethers. The process of deploying a voting smart contract on the Ethereum test network Ropsten is detailed, emphasizing the requirement of MetaMask and test ethers for deployment.', 'The examples of creating ERC20 tokens and crowdfunding smart contracts are also covered in the chapter. The chapter includes examples of creating ERC20 tokens and crowdfunding smart contracts, providing insights into the process and functionalities of these smart contracts.', "The smart contract for crowdfunding holds contributor's funds until a given date or goal is met, releasing the funds to the contract owners or sending them back to the contributors based on the result. The smart contract for crowdfunding is explained, highlighting its function of holding contributor's funds until a goal or date is met, and the subsequent release or return of the funds based on the outcome."]}, {'end': 8705.369, 'start': 8174.051, 'title': 'Bitcoin mining and blockchain technology', 'summary': 'Covers the basics of bitcoin, including its decentralized nature, advantages, and utilization for transactions, alongside an in-depth look at bitcoin mining, blockchain technology, and its underlying concepts, with a focus on sha-256 encryption and proof of work consensus algorithm.', 'duration': 531.318, 'highlights': ['Bitcoin is a decentralized digital currency allowing peer-to-peer transactions, created in 2009 by Satoshi Nakamoto, enabling faster asset transfer and lower transaction fees.', 'Bitcoin mining involves validating transactions and recording them on the public blockchain ledger, with miners competing to solve proof of work mathematical puzzles to earn rewards.', 'Blockchain technology utilizes a distributed public ledger, SHA-256 encryption algorithm, and proof of work consensus algorithm to ensure secure and immutable transactions.', 'The SHA-256 encryption algorithm is a one-way function that produces a unique 256-bit alphanumeric hash value for any given input, ensuring secure and unalterable transaction records.']}], 'duration': 2413.776, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM6291593.jpg', 'highlights': ['Ethereum widely adopted in banking systems for remittances and payments.', 'Smart contracts enable automation, efficiency, and accuracy, with advantages including no intermediaries, automated processes, high-speed execution, data immutability, and accurate recording of terms and conditions.', 'The process of deploying a voting smart contract on the Ethereum test network Ropsten is detailed, emphasizing the requirement of MetaMask and test ethers for deployment.', 'Smart contracts eliminate the need for intermediaries, automate transaction processes, and ensure automatic execution based on predefined conditions, leading to lower transaction costs and advantages for end consumers.', 'Smart contracts enable automation, efficiency, and accuracy, with advantages including no intermediaries, automated processes, high speed execution, data immutability, and accurate recording of terms and conditions.']}, {'end': 9336.318, 'segs': [{'end': 9101.976, 'src': 'embed', 'start': 9070.165, 'weight': 1, 'content': [{'end': 9073.346, 'text': 'So as you see the results in the following block being invalid.', 'start': 9070.165, 'duration': 3.181}, {'end': 9082.528, 'text': 'So with this whole thing the blockchain is making sure that the entire sequence remains non-hackable and prevent data modification.', 'start': 9073.566, 'duration': 8.962}, {'end': 9088.509, 'text': "Now let's see what are the underlying hardware requirements for Bitcoin mining and how the hardware is evolved.", 'start': 9082.708, 'duration': 5.801}, {'end': 9095.432, 'text': 'So in the early days, miners used to solve the puzzles using regular processors, the controlling processor unit CPUs.', 'start': 9088.629, 'duration': 6.803}, {'end': 9101.976, 'text': 'Now, but it used to take a lot of time for mining, though the difficulty levels were low, but still it used to take a lot of time.', 'start': 9095.693, 'duration': 6.283}], 'summary': 'Blockchain ensures non-hackable sequence, bitcoin mining evolved from cpu to specialized hardware', 'duration': 31.811, 'max_score': 9070.165, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM9070165.jpg'}, {'end': 9176.94, 'src': 'embed', 'start': 9109.199, 'weight': 0, 'content': [{'end': 9116.123, 'text': 'So they discovered that graphical processing units, GPUs, proved to be more efficient than regular CPUs.', 'start': 9109.199, 'duration': 6.924}, {'end': 9120.745, 'text': 'so. but this also had a drawback of consumption of electricity.', 'start': 9116.463, 'duration': 4.282}, {'end': 9125.688, 'text': 'so any miner who has to calculate the return on investment on the hardware,', 'start': 9120.745, 'duration': 4.943}, {'end': 9133.072, 'text': 'he also has to accommodate the cost of electricity and other resources which are going in in order to do the mining.', 'start': 9125.688, 'duration': 7.384}, {'end': 9142.399, 'text': 'so finally, as of today, they are using a hardware called ASIC application specific integrated circuit, which was specifically introduced for mining,', 'start': 9133.072, 'duration': 9.327}, {'end': 9147.923, 'text': 'which consumes less power and has a higher computing power and a better hardware for mining.', 'start': 9142.399, 'duration': 5.524}, {'end': 9155.609, 'text': 'so miners are profitable when their cost of resources to mine one block is less than the price of the reward they receive.', 'start': 9147.923, 'duration': 7.686}, {'end': 9160.412, 'text': 'so definitely they have to have the investment less than the reward, what they own.', 'start': 9155.609, 'duration': 4.803}, {'end': 9165.535, 'text': 'so as of today, in blockchain, miners use their resources to verify a transaction.', 'start': 9160.412, 'duration': 5.123}, {'end': 9169.697, 'text': 'they, each time a block is mined, new bitcoins are created in the network.', 'start': 9165.535, 'duration': 4.162}, {'end': 9172.018, 'text': 'so the bitcoin total supply is limited.', 'start': 9169.697, 'duration': 2.321}, {'end': 9174.179, 'text': 'it is at 21 million dollars.', 'start': 9172.018, 'duration': 2.161}, {'end': 9176.94, 'text': 'approximately 21 million bitcoin are in supply.', 'start': 9174.179, 'duration': 2.761}], 'summary': 'Gpus more efficient than cpus for mining, asic consumes less power, miners profitable if cost < reward, bitcoin supply limited to 21 million.', 'duration': 67.741, 'max_score': 9109.199, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM9109199.jpg'}], 'start': 8705.569, 'title': 'Bitcoin mining process', 'summary': 'Explains the bitcoin mining process, including the validation of transactions through the proof of work puzzle, rewarding miners with 12.5 bitcoins. it also covers aspects such as difficulty adjustment, data tampering prevention, hardware requirements, and mining pools.', 'chapters': [{'end': 8815.704, 'start': 8705.569, 'title': 'Blockchain proof of work process', 'summary': 'Explains the process of mining in blockchain, highlighting how miners validate transactions by solving a mathematical puzzle called proof of work and are rewarded with 12.5 bitcoins upon solving the puzzle.', 'duration': 110.135, 'highlights': ['The miners who solve the puzzle gets a reward of 12.5 bitcoins.', 'In blockchain, mining is a process to validate transactions by solving a difficult mathematical puzzle called proof of work.', 'The primary objective of the miner is to determine the nonce value, which produces a hash value lower than a predefined condition, known as the target.']}, {'end': 9336.318, 'start': 8815.704, 'title': 'Bitcoin mining and blockchain technology', 'summary': 'Explains the process of bitcoin mining, including steps for transaction validation, reward system, difficulty adjustment, and prevention of data tampering, and highlights the underlying hardware requirements and the concept of mining pools.', 'duration': 520.614, 'highlights': ['Bitcoin mining reward goes by the halving principle, with the reward given to a miner being halved every 210,000 blocks, which is approximately every four years.', 'The total supply of Bitcoin is limited to 21 million bitcoins, with approximately 17 to 18 million bitcoins already mined, leaving only 3 to 4 million bitcoins left.', 'The process of Bitcoin mining has evolved from using regular processors (CPUs) to graphical processing units (GPUs) and finally to application-specific integrated circuit (ASIC), which consumes less power and has higher computing power.', 'The target for block generation automatically adjusts itself to keep the block generation within the 10-minute time frame, and the difficulty of the puzzle changes depending on the time it takes to mine a block.', 'Blockchain ensures data security and prevents data modification by making it nearly impossible for a hacker to tamper with a block, as it would require a huge amount of computing power to change the hash values of all the blocks ahead of the tampered block.']}], 'duration': 630.749, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM8705569.jpg', 'highlights': ['The total supply of Bitcoin is limited to 21 million bitcoins, with approximately 17 to 18 million bitcoins already mined, leaving only 3 to 4 million bitcoins left.', 'The process of Bitcoin mining has evolved from using regular processors (CPUs) to graphical processing units (GPUs) and finally to application-specific integrated circuit (ASIC), which consumes less power and has higher computing power.', 'The target for block generation automatically adjusts itself to keep the block generation within the 10-minute time frame, and the difficulty of the puzzle changes depending on the time it takes to mine a block.', 'In blockchain, mining is a process to validate transactions by solving a difficult mathematical puzzle called proof of work.', 'The miners who solve the puzzle gets a reward of 12.5 bitcoins.']}, {'end': 10363.392, 'segs': [{'end': 10007.029, 'src': 'embed', 'start': 9981.044, 'weight': 0, 'content': [{'end': 9989.673, 'text': 'This wallet is a printed paper consisting of both your private key and a public key which are accessed using a QR code.', 'start': 9981.044, 'duration': 8.629}, {'end': 9995.32, 'text': 'Now since these wallets are safe, they are widely used for storing large amounts of cryptocurrencies.', 'start': 9990.114, 'duration': 5.206}, {'end': 10002.043, 'text': 'Now, examples are Bitcoin paper wallet and MyEther wallet are one of the widely used paper wallets.', 'start': 9995.734, 'duration': 6.309}, {'end': 10007.029, 'text': 'But the question arises how do I add cryptocurrency in my paper wallet?', 'start': 10002.383, 'duration': 4.646}], 'summary': 'Paper wallets store private and public keys for cryptocurrencies, accessed through qr codes, widely used for storing large amounts of cryptocurrencies.', 'duration': 25.985, 'max_score': 9981.044, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM9981044.jpg'}, {'end': 10106.992, 'src': 'embed', 'start': 10076.817, 'weight': 2, 'content': [{'end': 10081.678, 'text': 'it is available for bitcoin, ethereum, litecoin and many other cryptocurrencies.', 'start': 10076.817, 'duration': 4.861}, {'end': 10087.38, 'text': 'with jax, a user can view his updated balance as soon as the processing is complete.', 'start': 10081.678, 'duration': 5.702}, {'end': 10093.284, 'text': "Now let's take a look at certain demos for the different kind of wallets we have talked about.", 'start': 10087.76, 'duration': 5.524}, {'end': 10096.626, 'text': "So let's first take an example of paper wallet.", 'start': 10093.424, 'duration': 3.202}, {'end': 10100.728, 'text': 'So bitaddress.org provides you a paper wallet.', 'start': 10096.766, 'duration': 3.962}, {'end': 10106.992, 'text': 'It uses the client-side JavaScript in order to generate a random hash for your wallet.', 'start': 10100.929, 'duration': 6.063}], 'summary': 'Jax offers balance updates for multiple cryptocurrencies; demonstrates paper wallet creation with bitaddress.org.', 'duration': 30.175, 'max_score': 10076.817, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM10076817.jpg'}, {'end': 10218.49, 'src': 'embed', 'start': 10163.884, 'weight': 1, 'content': [{'end': 10173.286, 'text': 'if the keys fade or can no longer be scanned, then the user will never again be able to access the bitcoin which are parked in that address.', 'start': 10163.884, 'duration': 9.402}, {'end': 10177.167, 'text': 'also, take care if you are using an incorrect type of printer.', 'start': 10173.286, 'duration': 3.881}, {'end': 10179.687, 'text': 'that also may damage the paper wallet.', 'start': 10177.167, 'duration': 2.52}, {'end': 10185.773, 'text': "now let's take a look for our second example of online wallet.", 'start': 10181.152, 'duration': 4.621}, {'end': 10188.314, 'text': 'here we are taking an example of bitpay.', 'start': 10185.773, 'duration': 2.541}, {'end': 10196.955, 'text': 'so you can download bitpay online and create your account over here.', 'start': 10188.314, 'duration': 8.641}, {'end': 10198.456, 'text': 'you can create a personal wallet.', 'start': 10196.955, 'duration': 1.501}, {'end': 10205.297, 'text': 'you can create a shared wallet or a joint share wallet once you create a wallet like, if you see the example over here,', 'start': 10198.456, 'duration': 6.841}, {'end': 10218.49, 'text': 'this is my personal wallet and i have 3.645 test bitcoins over here now in order to receive test bitcoins in my account.', 'start': 10205.297, 'duration': 13.193}], 'summary': 'Protect keys for bitcoin access, avoid incorrect printer type. bitpay offers personal, shared, and joint share wallets with 3.645 test bitcoins.', 'duration': 54.606, 'max_score': 10163.884, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM10163884.jpg'}], 'start': 9336.318, 'title': 'Blockchain wallets', 'summary': 'Explores the necessity and functionality of blockchain wallets, emphasizing drawbacks of traditional transaction methods and introduces features, types, and working mechanisms, including the importance of public and private keys, categorization, and examples of popular blockchain wallets.', 'chapters': [{'end': 9398.575, 'start': 9336.318, 'title': 'Blockchain wallets: necessity and functionality', 'summary': 'Explores the necessity of blockchain wallets, their functionality, and the drawbacks of traditional transaction methods, emphasizing the inefficiencies and single points of failure in the old transaction systems.', 'duration': 62.257, 'highlights': ['Blockchain wallets address the drawbacks of traditional transaction methods, such as slow transactions and single points of failure, by eliminating the need for intermediary channels and banks.', 'Old transaction systems faced issues like slow transactions and single points of failure due to the involvement of intermediary channels and banks, leading to jeopardized, manipulated, and corrupted data across multiple systems where accounts and balances were maintained.']}, {'end': 10363.392, 'start': 9398.795, 'title': 'Blockchain wallets: features and types', 'summary': 'Introduces blockchain wallets, explaining their features, types, and working mechanism. it emphasizes the importance of public and private keys and how they relate to the security of blockchain wallets. it also discusses the categorization of blockchain wallets, the differences between hot and cold wallets, and the various types of wallets including software, hardware, and paper wallets. the chapter provides examples of popular blockchain wallets and demonstrates the process of using paper, online, and hardware wallets.', 'duration': 964.597, 'highlights': ['Blockchain wallets provide a safe and secure transfer and exchange of funds between different parties, managing various cryptocurrencies like bitcoin and ethereum, accessible from web or mobile devices. A blockchain wallet is a cryptocurrency wallet that allows users to manage different kinds of cryptocurrencies, such as bitcoin and ethereum, and facilitates easy exchange of funds. It can be accessed from web or mobile devices, ensuring privacy and security for the users.', 'The private and public keys associated with a blockchain wallet are crucial for security, with the public key serving as an identifier for receiving funds and the private key akin to a password for spending funds. Blockchain wallets generate private and public keys for users, where the public key is used to receive funds and can be shared with anyone, while the private key, similar to a password, is kept secret and is used to spend funds, ensuring the security of transactions.', 'Blockchain wallets are categorized into hot wallets for quick online transactions and cold wallets for offline storage, providing high-level security. They can further be classified as software, hardware, or paper wallets based on the storage medium. Blockchain wallets are classified into hot wallets for online transactions and cold wallets for offline storage, offering enhanced security. They can be further categorized as software, hardware, or paper wallets based on the storage medium, providing users with various options based on their security needs.', 'Examples of popular blockchain wallets include Electrum, Blockchain.info, Jaxx, Mycelium, Samurai, Bitcoin paper wallet, each catering to different security requirements and user preferences. Popular blockchain wallets such as Electrum, Blockchain.info, Jaxx, Mycelium, Samurai, and Bitcoin paper wallet cater to diverse security needs and user preferences, offering a range of options for managing cryptocurrencies.', 'The demonstration of using paper, online, and hardware wallets provides practical insights into the process of generating keys, receiving and sending funds, and connecting hardware wallets with online wallets. The chapter provides practical insights into using paper, online, and hardware wallets, demonstrating processes such as generating keys, receiving and sending funds, and connecting hardware wallets with online wallets, offering a comprehensive understanding of blockchain wallet usage.']}], 'duration': 1027.074, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM9336318.jpg', 'highlights': ['Blockchain wallets address the drawbacks of traditional transaction methods, such as slow transactions and single points of failure, by eliminating the need for intermediary channels and banks.', 'Blockchain wallets provide a safe and secure transfer and exchange of funds between different parties, managing various cryptocurrencies like bitcoin and ethereum, accessible from web or mobile devices.', 'The private and public keys associated with a blockchain wallet are crucial for security, with the public key serving as an identifier for receiving funds and the private key akin to a password for spending funds.', 'Blockchain wallets are categorized into hot wallets for quick online transactions and cold wallets for offline storage, providing high-level security.', 'Examples of popular blockchain wallets include Electrum, Blockchain.info, Jaxx, Mycelium, Samurai, Bitcoin paper wallet, each catering to different security requirements and user preferences.']}, {'end': 11349.299, 'segs': [{'end': 10406.039, 'src': 'embed', 'start': 10363.392, 'weight': 2, 'content': [{'end': 10369.715, 'text': 'and then you can start using that particular wallet for your decentralized apps.', 'start': 10363.392, 'duration': 6.323}, {'end': 10373.156, 'text': 'so basically, once you have your hardware connected,', 'start': 10369.715, 'duration': 3.441}, {'end': 10383.461, 'text': 'it is integrated with your MetaMask and then you can start running your decentralized apps so that they can start using the tokens or the currency in the particular hardware wallet.', 'start': 10373.156, 'duration': 10.305}, {'end': 10395.221, 'text': "so use your hardware account like you would with any ethereum account login to dapps and send ethereum's buy and store erc20 tokens and non-fungible tokens like cryptokitties.", 'start': 10383.621, 'duration': 11.6}, {'end': 10403.897, 'text': 'so if you click, connect to trezor over here, MetaMask will start looking out for the connected treasure device.', 'start': 10395.221, 'duration': 8.676}, {'end': 10406.039, 'text': 'Thank you for a fascinating session, Saurabh.', 'start': 10404.117, 'duration': 1.922}], 'summary': 'Integrate hardware wallet with metamask to use decentralized apps and tokens.', 'duration': 42.647, 'max_score': 10363.392, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM10363392.jpg'}, {'end': 10507.747, 'src': 'embed', 'start': 10481.3, 'weight': 0, 'content': [{'end': 10487.281, 'text': 'Any change that needs to take place is done only after a majority of the people using the cryptocurrency agree to it.', 'start': 10481.3, 'duration': 5.981}, {'end': 10492.863, 'text': 'Cryptocurrencies and fiat currencies are similar because both of them were created as a medium of exchange.', 'start': 10487.702, 'duration': 5.161}, {'end': 10494.984, 'text': "However, that's where the similarity ends.", 'start': 10493.183, 'duration': 1.801}, {'end': 10497.964, 'text': 'With cryptocurrencies, there are no third parties involved.', 'start': 10495.264, 'duration': 2.7}, {'end': 10502.446, 'text': 'For example, with fiat currencies, you have banks, you have money lenders, governments and so on.', 'start': 10498.145, 'duration': 4.301}, {'end': 10507.747, 'text': 'With cryptocurrencies, we have cryptographic functions to ensure that the transactions are kept secure.', 'start': 10502.666, 'duration': 5.081}], 'summary': 'Cryptocurrencies require majority agreement for change, unlike fiat currencies. they have no third parties and use cryptographic functions for secure transactions.', 'duration': 26.447, 'max_score': 10481.3, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM10481300.jpg'}, {'end': 10618.301, 'src': 'embed', 'start': 10595.55, 'weight': 1, 'content': [{'end': 10603.313, 'text': 'Ether is also used to pay for services like the computational power that is required before a block can be added to the blockchain and as transaction fees.', 'start': 10595.55, 'duration': 7.763}, {'end': 10608.115, 'text': 'Ether also works very similar to how Bitcoin works and can be used for peer-to-peer payments.', 'start': 10603.813, 'duration': 4.302}, {'end': 10611.437, 'text': 'Either can also be used to create smart contracts.', 'start': 10608.715, 'duration': 2.722}, {'end': 10618.301, 'text': 'Now smart contracts work in such a way that when a certain set of predefined rules are satisfied, a particular output takes place.', 'start': 10611.797, 'duration': 6.504}], 'summary': 'Ether is used for transactions, smart contracts, and computational power in blockchain, similar to bitcoin.', 'duration': 22.751, 'max_score': 10595.55, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM10595550.jpg'}, {'end': 10657.977, 'src': 'embed', 'start': 10631.087, 'weight': 5, 'content': [{'end': 10637.689, 'text': 'now bitcoin has proven itself to be a very popular and well-known cryptocurrency among everyone in the world.', 'start': 10631.087, 'duration': 6.602}, {'end': 10642.43, 'text': 'it also has the highest market cap among all the cryptocurrencies available right now.', 'start': 10637.689, 'duration': 4.741}, {'end': 10646.091, 'text': "in a way, it's the current world champion when it comes to cryptocurrencies.", 'start': 10642.43, 'duration': 3.661}, {'end': 10648.412, 'text': 'on the other side, we have the underdog, ethereum.', 'start': 10646.091, 'duration': 2.321}, {'end': 10652.894, 'text': 'Now Ethereum did not have the revolutionary effect that Bitcoin did,', 'start': 10648.672, 'duration': 4.222}, {'end': 10657.977, 'text': 'but it learned from Bitcoin and produced more functionalities on the concepts of Bitcoin.', 'start': 10652.894, 'duration': 5.083}], 'summary': "Bitcoin is the leading cryptocurrency with the highest market cap, while ethereum innovates on bitcoin's concepts.", 'duration': 26.89, 'max_score': 10631.087, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM10631087.jpg'}, {'end': 11237.31, 'src': 'embed', 'start': 11206.571, 'weight': 6, 'content': [{'end': 11209.032, 'text': 'This makes it difficult for a hacker to corrupt the data.', 'start': 11206.571, 'duration': 2.461}, {'end': 11211.954, 'text': 'Another major problem in healthcare is counterfeit medication.', 'start': 11209.272, 'duration': 2.682}, {'end': 11216.037, 'text': 'The main issue is that counterfeit medicines are difficult to distinguish from real medicines.', 'start': 11212.154, 'duration': 3.883}, {'end': 11219.739, 'text': 'The solution comes in the form of blockchain with the help of supply chain management.', 'start': 11216.317, 'duration': 3.422}, {'end': 11222.001, 'text': "Here, the medicine's provenance can be traced.", 'start': 11219.919, 'duration': 2.082}, {'end': 11228.625, 'text': 'For example, United Healthcare has improved its privacy, security, and interoperability of medical records using blockchain.', 'start': 11222.201, 'duration': 6.424}, {'end': 11230.526, 'text': 'Now, time for some honorable mentions.', 'start': 11228.725, 'duration': 1.801}, {'end': 11231.747, 'text': 'The insurance industry.', 'start': 11230.746, 'duration': 1.001}, {'end': 11237.31, 'text': "With blockchain's decentralized system, insurance companies can easily identify false claims and prevent forgeries.", 'start': 11231.827, 'duration': 5.483}], 'summary': 'Blockchain in healthcare helps trace medicine provenance; united healthcare improved privacy and security using blockchain; it also aids in identifying false claims in insurance industry.', 'duration': 30.739, 'max_score': 11206.571, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM11206571.jpg'}, {'end': 11317.068, 'src': 'embed', 'start': 11286.338, 'weight': 7, 'content': [{'end': 11288.739, 'text': 'It can be used for counting votes and verifying voters.', 'start': 11286.338, 'duration': 2.401}, {'end': 11293.001, 'text': 'Using blockchain, voters can submit their votes without revealing their identity in public.', 'start': 11288.959, 'duration': 4.042}, {'end': 11298.583, 'text': 'Officials can count the votes with absolute accuracy knowing that each ID has only one vote associated with it.', 'start': 11293.221, 'duration': 5.362}, {'end': 11302.565, 'text': 'Fake votes cannot be created as data tampering is closed impossible with blockchain.', 'start': 11298.723, 'duration': 3.842}, {'end': 11306.206, 'text': 'Once your vote is added to the ledger, the information can never be erased.', 'start': 11302.865, 'duration': 3.341}, {'end': 11308.046, 'text': 'Now let me tell you an example of MeVote.', 'start': 11306.326, 'duration': 1.72}, {'end': 11312.647, 'text': 'Now MeVote is a token based blockchain platform which is very similar to a digital ballot box.', 'start': 11308.166, 'duration': 4.481}, {'end': 11317.068, 'text': 'Now with MeVote, people are able to vote through a smartphone so voters cast their vote.', 'start': 11312.987, 'duration': 4.081}], 'summary': 'Blockchain enables secure, anonymous voting with mevote, ensuring accurate, tamper-proof counting and storage of votes.', 'duration': 30.73, 'max_score': 11286.338, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM11286338.jpg'}, {'end': 11358.926, 'src': 'embed', 'start': 11332.953, 'weight': 8, 'content': [{'end': 11338.114, 'text': "Utilizing blockchain's technology with the notary seal can be a really fast way to prove a document's authenticity.", 'start': 11332.953, 'duration': 5.161}, {'end': 11345.116, 'text': 'With tax, deploying blockchain can result in quicker tax payments, lower rates of tax evasion and lesser efforts in tax auditing.', 'start': 11338.314, 'duration': 6.802}, {'end': 11349.299, 'text': 'Blockchain can increase security and transparency in governmental systems.', 'start': 11345.416, 'duration': 3.883}, {'end': 11356.804, 'text': 'By 2020, Dubai hopes to become a 100% blockchain government by making all of its government services available on the blockchain technology.', 'start': 11349.539, 'duration': 7.265}, {'end': 11358.926, 'text': "10 things you didn't know about Bitcoin.", 'start': 11357.125, 'duration': 1.801}], 'summary': 'Blockchain technology can improve authenticity, tax payments, security, and transparency; dubai aims to be fully blockchain-operated by 2020.', 'duration': 25.973, 'max_score': 11332.953, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM11332953.jpg'}], 'start': 10363.392, 'title': 'Blockchain technology and applications', 'summary': 'Discusses integrating hardware wallet with metamask, compares bitcoin and ethereum in terms of functionality, market capitalization, and other key values, and explores the disruptions caused by blockchain technology in various industries, providing examples and quantifiable impacts.', 'chapters': [{'end': 10406.039, 'start': 10363.392, 'title': 'Using hardware wallet with metamask', 'summary': 'Discusses integrating hardware wallet with metamask to enable the use of decentralized apps and handling tokens, including erc20 and non-fungible tokens, with the ability to connect to devices like trezor.', 'duration': 42.647, 'highlights': ['Integrating hardware wallet with MetaMask allows running decentralized apps using tokens and currency from the hardware wallet, enhancing security and control.', 'The process enables users to handle ERC20 tokens, non-fungible tokens like Cryptokitties, and conduct Ethereum transactions through the connected hardware wallet, providing a seamless experience for users.', 'Connecting to devices like Trezor through MetaMask ensures a convenient and secure way to manage and utilize cryptocurrencies and tokens, contributing to a user-friendly decentralized finance ecosystem.']}, {'end': 10949.834, 'start': 10406.6, 'title': 'Bitcoin vs ethereum', 'summary': 'Explores the differences between bitcoin and ethereum, including their functionality, market capitalization, transaction speed, mining methods, and security algorithms, and presents a comparison of key values such as total coins, market capitalization, daily transactions, and block size.', 'duration': 543.234, 'highlights': ["Bitcoin has a market capitalization of 110 billion US dollars, while Ethereum has a market capitalization of 28 billion US dollars, indicating Bitcoin's significantly higher market value. The market capitalization of Bitcoin is 110 billion US dollars, whereas Ethereum's market capitalization is 28 billion US dollars, highlighting Bitcoin's dominance in market value.", "The number of transactions per day for Ethereum is 659,000, surpassing the 219,000 transactions per day for Bitcoin, demonstrating Ethereum's higher transaction volume. Ethereum records 659,000 transactions per day, exceeding Bitcoin's 219,000 transactions per day, indicating Ethereum's higher transaction volume and network activity.", "Ethereum's block creation surpasses 6 billion, significantly higher than Bitcoin's 537,000, attributed to Ethereum's faster block addition due to its shorter block time. Ethereum creates over 6 billion blocks, far exceeding Bitcoin's 537,000 blocks, indicating Ethereum's faster block addition due to its shorter block time."]}, {'end': 11349.299, 'start': 10950.174, 'title': 'Blockchain disruption across industries', 'summary': 'Explores the disruptions caused by blockchain technology in industries such as banking, cybersecurity, supply chain management, healthcare, insurance, transportation, cloud storage, real estate, and government, providing examples and quantifiable impacts.', 'duration': 399.125, 'highlights': ["Blockchain's disruption in banking, providing high security and low-cost peer-to-peer payments, eliminating the need for central authority, and enabling fast, cheap, and borderless transactions. Reduction of transaction fees up to $10 per $100 transfer.", "Blockchain's impact on cybersecurity, offering a decentralized system for securing data, preventing unauthorized access and tampering, exemplified by GuardTime's use of blockchain technology for data security. Enhanced security against cyber attacks and unauthorized data access.", "Blockchain's influence on supply chain management, enabling transparent and validated transactions, permanent visibility into transaction history, and step-by-step verification to prevent illegal activities, such as the example of Pacific tuna project. Enhanced transparency and validation of supply chain transactions.", "Blockchain's role in healthcare, ensuring rapid data access, eliminating the central authority, and providing solutions for tracking medicine provenance and improving privacy and security of medical records, as demonstrated by United Healthcare's use of blockchain. Rapid data access and improved privacy and security of medical records.", 'Other applications of blockchain, including its impact in insurance, transportation, cloud storage, real estate, and government, providing solutions for identifying false claims, enhancing traceability, increasing conveyance speed, and improving security and transparency in governmental systems. Wide-ranging applications in various industries and governmental processes.']}], 'duration': 985.907, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM10363392.jpg', 'highlights': ['Integrating hardware wallet with MetaMask enhances security and control for decentralized app usage.', 'Connecting to devices like Trezor through MetaMask ensures a convenient and secure way to manage cryptocurrencies.', "Ethereum's higher transaction volume and network activity is demonstrated by its 659,000 transactions per day.", "Ethereum's block creation surpasses 6 billion, indicating faster block addition due to its shorter block time.", "Blockchain's disruption in banking provides high security and low-cost peer-to-peer payments, reducing transaction fees up to $10 per $100 transfer.", "Blockchain's impact on cybersecurity offers enhanced security against cyber attacks and unauthorized data access.", "Blockchain's influence on supply chain management enables transparent and validated transactions, enhancing transparency and validation of supply chain transactions.", "Blockchain's role in healthcare ensures rapid data access and improved privacy and security of medical records.", "Blockchain's wide-ranging applications in various industries and governmental processes provide solutions for identifying false claims, enhancing traceability, increasing conveyance speed, and improving security and transparency."]}, {'end': 12633.008, 'segs': [{'end': 11402.461, 'src': 'embed', 'start': 11370.134, 'weight': 5, 'content': [{'end': 11371.416, 'text': "he hasn't been heard from since.", 'start': 11370.134, 'duration': 1.282}, {'end': 11376.801, 'text': "Now just like his identity is shrouded in mystery, nobody really knows if he's even alive or dead.", 'start': 11371.836, 'duration': 4.965}, {'end': 11381.006, 'text': 'The only communication people had with him were through emails and forums.', 'start': 11377.062, 'duration': 3.944}, {'end': 11387.253, 'text': 'His bitcoin wallet holds around 980,000 bitcoins which makes him one of the richest people on the planet.', 'start': 11381.346, 'duration': 5.907}, {'end': 11388.935, 'text': 'Next up, we have the Satoshi.', 'start': 11387.513, 'duration': 1.422}, {'end': 11394.717, 'text': "Now, as a sign of respect for the Bitcoin's creator, the smallest unit of a Bitcoin is known as a Satoshi.", 'start': 11389.275, 'duration': 5.442}, {'end': 11402.461, 'text': 'One Satoshi is valued at around 0.00006694 US dollars, which is a very very low value.', 'start': 11394.957, 'duration': 7.504}], 'summary': 'Satoshi, creator of bitcoin, holds 980,000 bitcoins, making him one of the richest, with smallest unit valued at 0.00006694 usd.', 'duration': 32.327, 'max_score': 11370.134, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM11370134.jpg'}, {'end': 11716.558, 'src': 'embed', 'start': 11692.668, 'weight': 8, 'content': [{'end': 11700.432, 'text': 'So these problems are the ones that were faced before blockchain but with blockchain technology there is traceability across the supply chain.', 'start': 11692.668, 'duration': 7.764}, {'end': 11705.694, 'text': 'This means that you can trace back to what happened to the product at each step of the supply chain.', 'start': 11700.592, 'duration': 5.102}, {'end': 11711.456, 'text': 'Blockchain technology enables these transactions to be tracked in a very secure and transparent manner.', 'start': 11705.814, 'duration': 5.642}, {'end': 11716.558, 'text': "Now, some benefits of using blockchain technology are that there's a single record policy,", 'start': 11711.676, 'duration': 4.882}], 'summary': 'Blockchain technology offers traceability and transparency in the supply chain, with a single record policy.', 'duration': 23.89, 'max_score': 11692.668, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM11692668.jpg'}, {'end': 11887.75, 'src': 'embed', 'start': 11863.321, 'weight': 6, 'content': [{'end': 11868.942, 'text': 'distributes the data across multiple nodes within the network and secures this data using cryptography.', 'start': 11863.321, 'duration': 5.621}, {'end': 11873.924, 'text': 'Another thing that you have to remember is that each node has a copy of the ledger,', 'start': 11869.102, 'duration': 4.822}, {'end': 11878.945, 'text': 'and cryptography protects the data within it against any changes making it immutable.', 'start': 11873.924, 'duration': 5.021}, {'end': 11881.747, 'text': 'Now imagine a hacker trying to hack the data here.', 'start': 11879.045, 'duration': 2.702}, {'end': 11887.75, 'text': 'He is unsuccessful because the peer-to-peer connection which prevents data from being altered as well as tampered.', 'start': 11881.947, 'duration': 5.803}], 'summary': 'Data is distributed across nodes, secured with cryptography, and immutable, preventing hacking and tampering.', 'duration': 24.429, 'max_score': 11863.321, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM11863321.jpg'}, {'end': 11938.138, 'src': 'embed', 'start': 11904.32, 'weight': 13, 'content': [{'end': 11908.102, 'text': "Now let's have a look at how blockchain can help with the voting process.", 'start': 11904.32, 'duration': 3.782}, {'end': 11916.006, 'text': 'now, before blockchain, a voter would have to submit their voter id, their voter ids need to be verified and after the verification,', 'start': 11908.382, 'duration': 7.624}, {'end': 11920.228, 'text': 'the voter would submit his or her word to the evm or the electronic voting machine.', 'start': 11916.006, 'duration': 4.222}, {'end': 11921.848, 'text': 'after that, the voting is complete.', 'start': 11920.228, 'duration': 1.62}, {'end': 11925.17, 'text': 'however, it is possible for the evm to be hacked.', 'start': 11921.848, 'duration': 3.322}, {'end': 11930.413, 'text': "since it's a centralized system, this can lead to some amount of manipulation with the vote count.", 'start': 11925.35, 'duration': 5.063}, {'end': 11938.138, 'text': 'however, with the decentralized system, like blockchain, it is possible to completely eliminate any scope of forgery, as well as data manipulation.', 'start': 11930.413, 'duration': 7.725}], 'summary': 'Blockchain ensures secure, tamper-proof voting process, eliminating manipulation risks.', 'duration': 33.818, 'max_score': 11904.32, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM11904320.jpg'}, {'end': 12022.152, 'src': 'embed', 'start': 11986.692, 'weight': 1, 'content': [{'end': 11991.956, 'text': 'It increases the transparency in the voting process and reduces the expense of conducting the elections.', 'start': 11986.692, 'duration': 5.264}, {'end': 11999.823, 'text': 'Now in real life examples MiVote which is a token based blockchain platform works very similar to that of a digital ballot box.', 'start': 11992.297, 'duration': 7.526}, {'end': 12005.946, 'text': 'now. it protects the integrity of the vote as well as protects the security of the election process.', 'start': 12000.143, 'duration': 5.803}, {'end': 12013.829, 'text': "now this is already implemented in Australia, so it's only a matter of time before this or similar technologies can be set up across the world.", 'start': 12005.946, 'duration': 7.883}, {'end': 12016.09, 'text': "now let's have a look at some of the other applications.", 'start': 12013.829, 'duration': 2.261}, {'end': 12022.152, 'text': "there's insurance, where, with blockchain, they can eliminate forgery, as well as false claims, and real estate,", 'start': 12016.09, 'duration': 6.062}], 'summary': 'Blockchain technology increases voting transparency and security, implemented in australia.', 'duration': 35.46, 'max_score': 11986.692, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM11986692.jpg'}, {'end': 12293.315, 'src': 'embed', 'start': 12255.627, 'weight': 0, 'content': [{'end': 12257.848, 'text': 'It has two components, data and function.', 'start': 12255.627, 'duration': 2.221}, {'end': 12259.99, 'text': 'The user details act as the data.', 'start': 12258.128, 'duration': 1.862}, {'end': 12265.373, 'text': "Now this data includes the person who's sending the transaction or how much money they're planning to transfer.", 'start': 12260.27, 'duration': 5.103}, {'end': 12269.136, 'text': 'Then you have the function which is the command to send and receive payments.', 'start': 12265.653, 'duration': 3.483}, {'end': 12272.578, 'text': 'Then you need to learn about flat and relational databases.', 'start': 12269.496, 'duration': 3.082}, {'end': 12276.601, 'text': 'Now blockchain was created on the basis of these two types of databases.', 'start': 12272.978, 'duration': 3.623}, {'end': 12281.525, 'text': 'A flat database stores data in a single table structure and a relational database,', 'start': 12276.961, 'duration': 4.564}, {'end': 12285.608, 'text': 'uses a number of tables and can cross reference records across tables.', 'start': 12281.525, 'duration': 4.083}, {'end': 12293.315, 'text': 'So it is necessary that you understand how these two databases work to completely understand how blockchain was created from their concepts.', 'start': 12286.029, 'duration': 7.286}], 'summary': 'Blockchain is based on flat and relational databases, which store and process user data and functions for sending and receiving payments.', 'duration': 37.688, 'max_score': 12255.627, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM12255627.jpg'}, {'end': 12412.296, 'src': 'embed', 'start': 12378.533, 'weight': 11, 'content': [{'end': 12381.736, 'text': 'Next, you need to learn important terms related to blockchain.', 'start': 12378.533, 'duration': 3.203}, {'end': 12390.564, 'text': 'For example, what is a miner, what is a block, what is a public distributed ledger, hash encryption, proof of work, mining and so much more.', 'start': 12382.036, 'duration': 8.528}, {'end': 12400.213, 'text': 'Then you can learn how systems other than Bitcoin like Ethereum, Hyperledger, Hashgraph and so on use blockchain to work with their technology.', 'start': 12390.944, 'duration': 9.269}, {'end': 12405.114, 'text': 'The second step involves understanding the economics behind cryptocurrencies and blockchain.', 'start': 12400.433, 'duration': 4.681}, {'end': 12412.296, 'text': 'Blockchain technologies work on crypto economics, which is nothing but the combination of two words, cryptography and economics.', 'start': 12405.474, 'duration': 6.822}], 'summary': 'Learn important terms related to blockchain and understand the economics behind cryptocurrencies and blockchain.', 'duration': 33.763, 'max_score': 12378.533, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM12378533.jpg'}], 'start': 11349.539, 'title': 'Blockchain evolution', 'summary': "Discusses dubai's aim to become a 100% blockchain government by 2020, bitcoin's power consumption in mining, and its limited number, applications of blockchain in supply chain management and cybersecurity, blockchain in voting to ensure transparency and reduce expenses, and steps to become a blockchain developer.", 'chapters': [{'end': 11463.739, 'start': 11349.539, 'title': "Dubai's 100% blockchain plan", 'summary': "Discusses dubai's aim to become a 100% blockchain government by 2020, 10 interesting facts about bitcoin, and liberland's adoption of bitcoin as its official currency.", 'duration': 114.2, 'highlights': ["Dubai's goal to become a 100% blockchain government by 2020 Dubai aims to make all government services available on blockchain technology by 2020, showcasing a significant technological shift.", "Satoshi Nakamoto's mysterious identity and Bitcoin wealth Satoshi Nakamoto, the mysterious creator of Bitcoin, holds around 980,000 bitcoins, making him one of the richest individuals globally, with his identity and existence remaining a mystery.", "Liberland's adoption of Bitcoin as the official currency Liberland, a micro nation, has chosen Bitcoin as its official currency, recognizing the security and transparency provided by blockchain technology for recording assets."]}, {'end': 11881.747, 'start': 11464.039, 'title': "Bitcoin's power and applications", 'summary': "Delves into the power consumption of bitcoin mining, the limited number of bitcoins, countries' stance on bitcoin, and the applications of blockchain in supply chain management and cybersecurity.", 'duration': 417.708, 'highlights': ['Bitcoin mining farms consume 60 terawatt hour, approximately 6 x 10^10 kilowatt hours, which is more than the annual electricity consumption of Ireland (5000 kilowatt hour). Bitcoin mining farms collectively consume a massive 60 terawatt hour, which is significantly more than the annual electricity consumption of Ireland (5000 kilowatt hour).', 'The number of bitcoins is capped at 21 million, with 17 million already in circulation, and the reward for miners reduces by half every 4 years, with the next halving estimated in 2020. There is a limit of 21 million bitcoins, with 17 million already in circulation. Furthermore, the reward for miners reduces by half every 4 years, with the next halving scheduled for 2020.', 'Several countries like Bolivia, Iceland, Bangladesh, and Ecuador have banned Bitcoin, while others such as India, Thailand, and Iran advise caution when using cryptocurrencies, without accepting them as legal tender. Countries such as Bolivia, Iceland, Bangladesh, and Ecuador have banned Bitcoin, while others like India, Thailand, and Iran advise caution when using cryptocurrencies, without accepting them as legal tender.', "Blockchain technology enables traceability across the supply chain, providing transparency, reduced costs, and less human intervention, exemplified by Walmart's use of a blockchain distributed ledger to track food products in its supply chain across China. Blockchain technology facilitates traceability across the supply chain, leading to transparency, reduced costs, and less human intervention. Walmart's use of a blockchain distributed ledger to track food products in its supply chain across China serves as a practical example.", 'Blockchain provides high security through cryptography, decentralized storage, quick transactions, and lower costs compared to traditional banking transactions, offering protection against tampering and enhancing cybersecurity. Blockchain offers high security through cryptography, decentralized storage, quick transactions, and lower costs compared to traditional banking transactions, providing protection against tampering and enhancing cybersecurity.']}, {'end': 12255.347, 'start': 11881.947, 'title': 'Blockchain in voting & market impact', 'summary': 'Explores the application of blockchain in voting, highlighting its ability to ensure transparency, eliminate voter fraud and reduce expenses, as well as its impact on the job market, with 84% of companies dabbling into blockchain and it being the fastest growing skill in the us freelance job market.', 'duration': 373.4, 'highlights': ['Blockchain in Voting Explains how blockchain can help in the voting process by ensuring transparency, eliminating voter fraud and election rigging, and reducing the expense of conducting elections.', 'Market Impact of Blockchain Highlights the growing interest in blockchain with 84% of companies exploring it, its rapid growth as a skill in the US freelance job market, and the involvement of tech influencers and companies like Apple and JP Morgan.', 'Role of a Blockchain Developer Describes the responsibilities and tasks of a blockchain developer, including designing, implementing, and supporting blockchain networks, and creating and optimizing blockchain protocols.']}, {'end': 12633.008, 'start': 12255.627, 'title': 'Becoming a blockchain developer', 'summary': 'Emphasizes the importance of understanding data and function components, databases, data structures, web application development, networking, and various steps to become a blockchain developer, including learning the concepts, terms, economics, and practical application of blockchain technology.', 'duration': 377.381, 'highlights': ['Understanding the components of data and function is crucial, including user details, commands for sending and receiving payments, and the concepts of flat and relational databases. User details, commands, flat and relational databases.', 'Learning about data structures like stack, linked list, and queue is essential as blockchain is a backlinked list, and understanding web application development opens opportunities to create applications using blockchain technology. Data structures, web app development.', 'Knowledge about networking is necessary to comprehend how blockchains function on the internet, followed by understanding the concepts of blockchain and important terms related to blockchain. Networking, blockchain concepts, important blockchain terms.', 'Understanding the economics behind cryptocurrencies and blockchain, including crypto economics, hashing, digital signatures, proof of work, and the incentivization and compensation mechanism for users and miners. Crypto economics, hashing, digital signatures, proof of work, incentivization.', 'Comprehending the process and interaction of steps involved in how cryptocurrencies work, and gaining practical experience through coding, creating smart contracts, distributed applications, and investing in cryptocurrencies. Cryptocurrency transaction process, practical experience in coding and creating smart contracts.', 'Keeping oneself updated through reading blogs, forums, participating in chat rooms, and utilizing resources on the internet, while being aware of potential obstacles such as outdated and lack of quality content. Reading blogs, forums, chat rooms, obstacles in learning blockchain.']}], 'duration': 1283.469, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM11349539.jpg', 'highlights': ['Dubai aims to make all government services available on blockchain technology by 2020, showcasing a significant technological shift.', 'Satoshi Nakamoto, the mysterious creator of Bitcoin, holds around 980,000 bitcoins, making him one of the richest individuals globally, with his identity and existence remaining a mystery.', 'Liberland, a micro nation, has chosen Bitcoin as its official currency, recognizing the security and transparency provided by blockchain technology for recording assets.', 'Bitcoin mining farms collectively consume a massive 60 terawatt hour, which is significantly more than the annual electricity consumption of Ireland (5000 kilowatt hour).', 'There is a limit of 21 million bitcoins, with 17 million already in circulation. Furthermore, the reward for miners reduces by half every 4 years, with the next halving scheduled for 2020.', "Blockchain technology facilitates traceability across the supply chain, leading to transparency, reduced costs, and less human intervention. Walmart's use of a blockchain distributed ledger to track food products in its supply chain across China serves as a practical example.", 'Blockchain offers high security through cryptography, decentralized storage, quick transactions, and lower costs compared to traditional banking transactions, providing protection against tampering and enhancing cybersecurity.', 'Explains how blockchain can help in the voting process by ensuring transparency, eliminating voter fraud and election rigging, and reducing the expense of conducting elections.', 'Highlights the growing interest in blockchain with 84% of companies exploring it, its rapid growth as a skill in the US freelance job market, and the involvement of tech influencers and companies like Apple and JP Morgan.', 'Describes the responsibilities and tasks of a blockchain developer, including designing, implementing, and supporting blockchain networks, and creating and optimizing blockchain protocols.', 'User details, commands, flat and relational databases.', 'Data structures, web app development.', 'Networking, blockchain concepts, important blockchain terms.', 'Crypto economics, hashing, digital signatures, proof of work, incentivization.', 'Cryptocurrency transaction process, practical experience in coding and creating smart contracts.', 'Reading blogs, forums, chat rooms, obstacles in learning blockchain.']}, {'end': 13230.677, 'segs': [{'end': 12718.254, 'src': 'embed', 'start': 12688.614, 'weight': 0, 'content': [{'end': 12695.177, 'text': 'With this, they are able to track down where the problem area is and to ensure that the problem is solved before it can happen again.', 'start': 12688.614, 'duration': 6.563}, {'end': 12697.158, 'text': 'You have JPMorgan Chase & Co.', 'start': 12695.497, 'duration': 1.661}, {'end': 12701, 'text': 'This company created their own blockchain application called Quorum.', 'start': 12697.498, 'duration': 3.502}, {'end': 12708.486, 'text': 'that solves the processing, that allows private transactions to take place in a group of participants whose identities are known.', 'start': 12701.28, 'duration': 7.206}, {'end': 12718.254, 'text': "The Agricultural Bank of China created a loaning system using blockchain that aimed to help small and medium sized agricultural businesses that didn't have a good credit record.", 'start': 12708.726, 'duration': 9.528}], 'summary': 'Jpmorgan chase created quorum blockchain app, agricultural bank of china aims to help small businesses with blockchain loan system.', 'duration': 29.64, 'max_score': 12688.614, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM12688614.jpg'}, {'end': 13128.791, 'src': 'embed', 'start': 13087.542, 'weight': 3, 'content': [{'end': 13094.95, 'text': 'if we have to move from a traditional database to a blockchain based distributed ledger, what benefit it brings on the table?', 'start': 13087.542, 'duration': 7.408}, {'end': 13099.273, 'text': 'So certain differences, which are very visible, are transparency.', 'start': 13095.17, 'duration': 4.103}, {'end': 13104.176, 'text': 'blockchain distributed ledger is highly transparent as compared to traditional database.', 'start': 13099.273, 'duration': 4.903}, {'end': 13107.018, 'text': 'distributed ledgers are irreversible.', 'start': 13104.176, 'duration': 2.842}, {'end': 13113.863, 'text': 'once any information is registered on a distributed ledger cannot be modified, whereas on a traditional ledger it is reversible.', 'start': 13107.018, 'duration': 6.845}, {'end': 13116.444, 'text': 'basically, distributed ledger is more secure.', 'start': 13113.863, 'duration': 2.581}, {'end': 13117.985, 'text': 'it uses cryptography.', 'start': 13116.444, 'duration': 1.541}, {'end': 13120.847, 'text': 'every transaction is hashed and recorded.', 'start': 13117.985, 'duration': 2.862}, {'end': 13124.249, 'text': 'in a traditional ledger, the security can be compromised.', 'start': 13120.847, 'duration': 3.402}, {'end': 13126.99, 'text': 'in a distributed ledger there is no central authority.', 'start': 13124.249, 'duration': 2.741}, {'end': 13128.791, 'text': "it's a distributed system.", 'start': 13126.99, 'duration': 1.801}], 'summary': 'Moving from traditional database to blockchain brings transparency, security, and immutability to the table.', 'duration': 41.249, 'max_score': 13087.542, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM13087542.jpg'}, {'end': 13230.677, 'src': 'embed', 'start': 13185.203, 'weight': 1, 'content': [{'end': 13191.207, 'text': 'ability to modify data no, once the data or a transaction is registered, it cannot be altered.', 'start': 13185.203, 'duration': 6.004}, {'end': 13193.028, 'text': 'and a traditional ledger it is possible.', 'start': 13191.207, 'duration': 1.821}, {'end': 13194.569, 'text': 'How validation is done?', 'start': 13193.388, 'duration': 1.181}, {'end': 13198.872, 'text': 'So in a distributed ledger it is done by the participants of the network.', 'start': 13194.769, 'duration': 4.103}, {'end': 13202.855, 'text': 'In a traditional ledger, it is controlled by the centralized authority.', 'start': 13199.033, 'duration': 3.822}, {'end': 13207.98, 'text': 'Copy of ledger is shared amongst all the participants of a distributed ledger.', 'start': 13203.196, 'duration': 4.784}, {'end': 13211.542, 'text': 'Each participant consists the same information in the ledger.', 'start': 13208.26, 'duration': 3.282}, {'end': 13216.826, 'text': 'In a traditional ledger, only a single copy is maintained at a centralized location.', 'start': 13211.722, 'duration': 5.104}, {'end': 13219.649, 'text': 'It is not shared amongst all the participants.', 'start': 13217.047, 'duration': 2.602}, {'end': 13222.571, 'text': 'Thereby, again, it remains as a single point of failure.', 'start': 13219.849, 'duration': 2.722}, {'end': 13230.677, 'text': 'if you have any queries, you can put your comments in the comment section of this video and we will definitely come back to you.', 'start': 13222.831, 'duration': 7.846}], 'summary': 'Distributed ledger ensures data integrity and validation by participants, avoiding single point of failure.', 'duration': 45.474, 'max_score': 13185.203, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM13185203.jpg'}], 'start': 12633.008, 'title': 'Blockchain technology insights', 'summary': "Provides insights into the blockchain job market, including the average annual salaries of blockchain developers in the us and major companies investing in blockchain technology. it also offers an overview of blockchain certification training, covering agricultural bank of china's blockchain loaning system and simply learn's certification courses, along with detailed explanations of blockchain technology and its attributes.", 'chapters': [{'end': 12708.486, 'start': 12633.008, 'title': 'Blockchain job market insights', 'summary': 'Discusses the potential challenges of low-quality sources, highlights the average annual salaries of blockchain developers in the us, and showcases major companies investing in blockchain technology, with examples of its application by walmart and jpmorgan chase & co.', 'duration': 75.478, 'highlights': ['Blockchain developers in the US earn an average of $130,000 per annum, with tech-oriented areas like Silicon Valley, New York, and Boston offering up to $150,000 per annum.', 'Major companies such as Alphabet, Bank of America, Wells Fargo, Apple, and Microsoft have heavily invested in incorporating blockchain into their processes, indicating a high demand for skilled blockchain professionals.', 'Walmart utilizes blockchain to track its supply chain, enabling identification and resolution of issues, while JPMorgan Chase & Co. has developed Quorum, a blockchain application facilitating private transactions among known participants.']}, {'end': 13230.677, 'start': 12708.726, 'title': 'Blockchain certification training overview', 'summary': "Introduces the agricultural bank of china's blockchain loaning system for small and medium agricultural businesses and then provides an overview of simply learn's blockchain certification courses, including the content, duration, and practical projects, before detailing the difference between blockchain and hyperledger, explaining blockchain technology using a school analogy, and discussing merkle trees and the attributes of blocks in blockchain technology. finally, it explains the differences between blockchain distributed ledger and traditional ledger, focusing on transparency, security, decentralization, identity, fault tolerance, and data modification.", 'duration': 521.951, 'highlights': ["Agricultural Bank of China's blockchain loaning system for small and medium agricultural businesses The Agricultural Bank of China created a loaning system using blockchain to help small and medium-sized agricultural businesses with poor credit records.", "Simply Learn's blockchain certification courses with 12 hours of self-paced learning for introductory course and 32 hours of instructor-led training for advanced course Simply Learn offers certification courses with 12 hours of self-paced learning for the introductory course and 32 hours of instructor-led training for the advanced course, covering topics like blockchain basics, Bitcoin, blockchain data structures, Ethereum, Hyperledger, and Bitcoin, with constantly updated content.", 'Difference between blockchain and Hyperledger Blockchain is a decentralized technology of immutable records while Hyperledger is a platform for building private blockchains, with blockchain being a concept or technology for building public and private blockchains, whereas Hyperledger is specifically for private blockchains.', 'Explanation of blockchain technology using a school analogy Blockchain technology is described as a distributed ledger storing transaction details as immutable records, similar to a digital report card for students, with non-modifiable records secured using cryptography and accessibility controlled by private and public keys.', 'Description of Merkle tree in blockchain technology Merkle tree is a data structure used for verifying a block in the form of a binary tree containing cryptographic hashes of each block and structured with leaf nodes as transaction hashes and non-leaf nodes as hashes of their leaf nodes, ultimately leading to the final hash of all transaction hashes known as Merkle root.', 'Attributes of a block in blockchain technology A block in blockchain technology is a distributed database of immutable records secured using cryptography with attributes including previous hash, transaction details, nonce, and target hash value, and once a block is verified, it gets added to the main blockchain in chronological order and cannot be modified.', 'Differences between blockchain distributed ledger and traditional ledger Blockchain distributed ledger is more transparent, irreversible, and secure due to cryptography, decentralization, and unknown identities, with no single point of failure and unalterable data, while traditional ledger is reversible, less secure, centralized, and known identities, and at risk of single point of failure and data modification.']}], 'duration': 597.669, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM12633008.jpg', 'highlights': ['Blockchain developers in the US earn an average of $130,000 per annum, with tech-oriented areas like Silicon Valley, New York, and Boston offering up to $150,000 per annum.', 'Major companies such as Alphabet, Bank of America, Wells Fargo, Apple, and Microsoft have heavily invested in incorporating blockchain into their processes, indicating a high demand for skilled blockchain professionals.', 'Walmart utilizes blockchain to track its supply chain, enabling identification and resolution of issues, while JPMorgan Chase & Co. has developed Quorum, a blockchain application facilitating private transactions among known participants.', "Agricultural Bank of China's blockchain loaning system for small and medium agricultural businesses The Agricultural Bank of China created a loaning system using blockchain to help small and medium-sized agricultural businesses with poor credit records.", "Simply Learn's blockchain certification courses with 12 hours of self-paced learning for introductory course and 32 hours of instructor-led training for advanced course Simply Learn offers certification courses with 12 hours of self-paced learning for the introductory course and 32 hours of instructor-led training for the advanced course, covering topics like blockchain basics, Bitcoin, blockchain data structures, Ethereum, Hyperledger, and Bitcoin, with constantly updated content.", 'Difference between blockchain and Hyperledger Blockchain is a decentralized technology of immutable records while Hyperledger is a platform for building private blockchains, with blockchain being a concept or technology for building public and private blockchains, whereas Hyperledger is specifically for private blockchains.', 'Explanation of blockchain technology using a school analogy Blockchain technology is described as a distributed ledger storing transaction details as immutable records, similar to a digital report card for students, with non-modifiable records secured using cryptography and accessibility controlled by private and public keys.', 'Description of Merkle tree in blockchain technology Merkle tree is a data structure used for verifying a block in the form of a binary tree containing cryptographic hashes of each block and structured with leaf nodes as transaction hashes and non-leaf nodes as hashes of their leaf nodes, ultimately leading to the final hash of all transaction hashes known as Merkle root.', 'Attributes of a block in blockchain technology A block in blockchain technology is a distributed database of immutable records secured using cryptography with attributes including previous hash, transaction details, nonce, and target hash value, and once a block is verified, it gets added to the main blockchain in chronological order and cannot be modified.', 'Differences between blockchain distributed ledger and traditional ledger Blockchain distributed ledger is more transparent, irreversible, and secure due to cryptography, decentralization, and unknown identities, with no single point of failure and unalterable data, while traditional ledger is reversible, less secure, centralized, and known identities, and at risk of single point of failure and data modification.']}, {'end': 14552.53, 'segs': [{'end': 13291.843, 'src': 'embed', 'start': 13230.677, 'weight': 1, 'content': [{'end': 13232.738, 'text': 'how can you identify a block?', 'start': 13230.677, 'duration': 2.061}, {'end': 13234.359, 'text': 'what are the attributes of block?', 'start': 13232.738, 'duration': 1.621}, {'end': 13235.56, 'text': 'in order to understand it?', 'start': 13234.359, 'duration': 1.201}, {'end': 13238.162, 'text': 'so every block consists of four fields.', 'start': 13235.56, 'duration': 2.602}, {'end': 13241.425, 'text': 'It holds the hash value of the previous block.', 'start': 13238.562, 'duration': 2.863}, {'end': 13243.727, 'text': 'Therefore it gets linked in a blockchain.', 'start': 13241.705, 'duration': 2.022}, {'end': 13249.113, 'text': 'It contains the details of the aggregated transactions which are aggregated in the block.', 'start': 13243.968, 'duration': 5.145}, {'end': 13250.935, 'text': 'It has a value called nonce.', 'start': 13249.473, 'duration': 1.462}, {'end': 13259.983, 'text': 'Nonce is a random value which is used to vary the value of the hash in order to generate the hash value less than the target.', 'start': 13251.215, 'duration': 8.768}, {'end': 13263.645, 'text': 'and then, finally, you have a hash of the block itself.', 'start': 13259.983, 'duration': 3.662}, {'end': 13267.188, 'text': 'it is the digital signature of this block, a unique hash for this block.', 'start': 13263.645, 'duration': 3.543}, {'end': 13270.991, 'text': 'it is a alphanumeric value which is used to identify a block.', 'start': 13267.188, 'duration': 3.803}, {'end': 13272.912, 'text': 'so that is the identity of the block.', 'start': 13270.991, 'duration': 1.921}, {'end': 13275.974, 'text': 'the hash address is the unique identification of a block.', 'start': 13272.912, 'duration': 3.062}, {'end': 13280.717, 'text': 'it is a hex value of 64 characters that has both letters and digit.', 'start': 13275.974, 'duration': 4.743}, {'end': 13282.899, 'text': 'it is obtained by using SHA-256 algorithm.', 'start': 13280.717, 'duration': 2.182}, {'end': 13285.961, 'text': 'Now this is the way it is structured.', 'start': 13284.56, 'duration': 1.401}, {'end': 13291.843, 'text': 'The hash of the previous block, the transaction data and the nonce consolidate the header of the block.', 'start': 13286.301, 'duration': 5.542}], 'summary': 'A block in a blockchain has four fields: hash of previous block, transaction details, nonce, and a unique 64-character alphanumeric hash, obtained using sha-256 algorithm.', 'duration': 61.166, 'max_score': 13230.677, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM13230677.jpg'}, {'end': 13352.315, 'src': 'embed', 'start': 13311.511, 'weight': 2, 'content': [{'end': 13316.316, 'text': 'So all the user identities and the transaction on a blockchain are encrypted.', 'start': 13311.511, 'duration': 4.805}, {'end': 13321.481, 'text': 'Cryptography uses public and private keys to encrypt and decrypt data.', 'start': 13316.656, 'duration': 4.825}, {'end': 13329.73, 'text': 'So basically it uses the public and private key infrastructure in order to maintain the encryption of the information on a blockchain network.', 'start': 13321.722, 'duration': 8.008}, {'end': 13335.637, 'text': 'in blockchain network, public key can be shared with all the bitcoin users, all the blockchain users.', 'start': 13329.93, 'duration': 5.707}, {'end': 13339.981, 'text': 'so public key is just like your address, which you can share it with anyone.', 'start': 13335.637, 'duration': 4.344}, {'end': 13342.464, 'text': 'but a private key is like your password.', 'start': 13339.981, 'duration': 2.483}, {'end': 13344.747, 'text': 'it is kept secret with the user.', 'start': 13342.464, 'duration': 2.283}, {'end': 13351.154, 'text': 'so basically, blockchain uses cryptography to secure user identities and ensure transactions are done safely.', 'start': 13344.747, 'duration': 6.407}, {'end': 13352.315, 'text': 'And how does it do it?', 'start': 13351.414, 'duration': 0.901}], 'summary': 'Blockchain uses cryptography to encrypt user identities and transactions for secure operations.', 'duration': 40.804, 'max_score': 13311.511, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM13311511.jpg'}, {'end': 13429.589, 'src': 'embed', 'start': 13402.814, 'weight': 9, 'content': [{'end': 13408.617, 'text': 'anyone can participate in the network and get hooked up, so examples are bitcoin and ethereum.', 'start': 13402.814, 'duration': 5.803}, {'end': 13417.362, 'text': 'private blockchain ledgers are visible to all the users on the internet, but only specific users in the organization can verify and add transaction.', 'start': 13408.617, 'duration': 8.745}, {'end': 13422.845, 'text': "so it's a kind of a permissioned blockchain, though the information can be available publicly,", 'start': 13417.362, 'duration': 5.483}, {'end': 13429.589, 'text': 'but The controllers and the validators of the blockchain are within the organization and are pre-determined.', 'start': 13422.845, 'duration': 6.744}], 'summary': 'Anyone can participate in public blockchains like bitcoin and ethereum. private blockchains are permissioned and accessible to specific users.', 'duration': 26.775, 'max_score': 13402.814, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM13402814.jpg'}, {'end': 13844.076, 'src': 'embed', 'start': 13815.413, 'weight': 0, 'content': [{'end': 13821.638, 'text': 'So Ethereum is one of the popular platforms for building blockchain based applications and it is widely getting adopted.', 'start': 13815.413, 'duration': 6.225}, {'end': 13829.384, 'text': 'Ares is also used for building enterprise based solutions and also some of the widely used platforms for building blockchain are listed below.', 'start': 13822.038, 'duration': 7.346}, {'end': 13833.388, 'text': 'Hyperledger, Multi chain, Open chain are available in the market.', 'start': 13829.585, 'duration': 3.803}, {'end': 13837.791, 'text': 'What is the very first thing you must specify in a Solidity file?', 'start': 13833.768, 'duration': 4.023}, {'end': 13844.076, 'text': 'Now it is necessary to specify the version number of solidity at the beginning of a code,', 'start': 13838.112, 'duration': 5.964}], 'summary': 'Ethereum is a popular platform for building blockchain applications, widely adopted. solidity file must specify version number at beginning of code.', 'duration': 28.663, 'max_score': 13815.413, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM13815413.jpg'}, {'end': 14094.703, 'src': 'embed', 'start': 14069.74, 'weight': 13, 'content': [{'end': 14078.126, 'text': 'smart contracts provide permanent transparency, traceability and validation of transaction shared by multiple supply chain partners.', 'start': 14069.74, 'duration': 8.386}, {'end': 14085.534, 'text': 'So at each level, each supply chain partner has to register a transaction when it receives a product and then when it passes it on.', 'start': 14078.226, 'duration': 7.308}, {'end': 14091.04, 'text': 'So basically, the purchaser, when consuming the end product, can see the entire journey of the product.', 'start': 14085.754, 'duration': 5.286}, {'end': 14094.703, 'text': 'List and explain the parts of EVM memory.', 'start': 14091.38, 'duration': 3.323}], 'summary': 'Smart contracts ensure transparency and traceability, allowing supply chain partners to register and track product transactions, providing the end purchaser with visibility into the product journey.', 'duration': 24.963, 'max_score': 14069.74, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM14069740.jpg'}, {'end': 14143.102, 'src': 'embed', 'start': 14115.379, 'weight': 11, 'content': [{'end': 14123.045, 'text': 'it can be accessed only during the contract execution and once the execution is finished, the data is wiped off, vanished and lost.', 'start': 14115.379, 'duration': 7.666}, {'end': 14128.397, 'text': 'stack, on the other way is a temporary and a non-modifiable storage.', 'start': 14123.635, 'duration': 4.762}, {'end': 14132.158, 'text': 'here, when the execution is completed, the content is lost.', 'start': 14128.397, 'duration': 3.761}, {'end': 14137.2, 'text': 'so basically, memory and stack are relatively much cheaper than storage variables.', 'start': 14132.158, 'duration': 5.042}, {'end': 14143.102, 'text': 'now, what happens if the execution of a smart contract costs more than the specified gas?', 'start': 14137.2, 'duration': 5.902}], 'summary': 'Smart contracts have temporary storage with data wiped off after execution, and are cheaper than storage variables.', 'duration': 27.723, 'max_score': 14115.379, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM14115379.jpg'}, {'end': 14308.448, 'src': 'embed', 'start': 14280.029, 'weight': 3, 'content': [{'end': 14287.634, 'text': 'Whereas in proof of take, the probability of validating the block relies upon the amount of token you own beforehand.', 'start': 14280.029, 'duration': 7.605}, {'end': 14291.837, 'text': 'So the more the tokens you have, the more the chance you get to validate a block.', 'start': 14287.754, 'duration': 4.083}, {'end': 14292.617, 'text': 'So, basically,', 'start': 14291.977, 'duration': 0.64}, {'end': 14301.544, 'text': 'proof of stake has been introduced in order to reduce the pressure on the resources which has been put by the proof of work consensus algorithm.', 'start': 14292.617, 'duration': 8.927}, {'end': 14308.448, 'text': "Miners spend a lot of computing power for solving the cryptographic puzzle along with the hardware and it's a huge cost.", 'start': 14301.924, 'duration': 6.524}], 'summary': 'Proof of stake increases chances of block validation based on token ownership, reducing resource pressure and costs compared to proof of work.', 'duration': 28.419, 'max_score': 14280.029, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM14280029.jpg'}], 'start': 13230.677, 'title': 'Blockchain fundamentals', 'summary': 'Covers block attributes, cryptography, types of blockchains, key concepts, blockchain use cases in supply chain, evm memory, gas usage, forking, proof of work, proof of stake, and 51% attack, as well as solidity function modifiers and crowd sale smart contract implementation.', 'chapters': [{'end': 13381.117, 'start': 13230.677, 'title': 'Block attributes and cryptography in blockchain', 'summary': 'Explains the attributes of a block, including its four fields and the role of cryptography in blockchain, using the sha-256 algorithm for securing user identities and transactions.', 'duration': 150.44, 'highlights': ["Blockchain uses cryptography primarily to secure users' identities and ensure transactions are done safely with the hash function. Cryptography secures user identities and transactions in blockchain, using the hash function for safety.", 'The attributes of a block include holding the hash value of the previous block, containing details of aggregated transactions, and having a value called nonce. Attributes of a block: hash value of previous block, details of aggregated transactions, and a value called nonce.', 'The SHA-256 algorithm is used in blockchain to ensure secure transactions and provides a unique hash output for every input. SHA-256 algorithm ensures secure transactions and provides a unique hash output for every input.']}, {'end': 14048.804, 'start': 13381.437, 'title': 'Types of blockchains and key concepts', 'summary': 'Discusses the three types of blockchains - public, private, and consortium, along with key concepts such as smart contracts, ethereum networks, mining, and blockchain project implementation.', 'duration': 667.367, 'highlights': ['Public, private, and consortium blockchains are discussed, with examples such as Bitcoin, Ethereum, Blockstack, and Ripple. The chapter explains the visibility and verification access of public, private, and consortium blockchains, providing examples like Bitcoin, Ethereum, Blockstack, and Ripple.', "The concept of a Genesis block is detailed, including its role as the first block in the blockchain and its parameters defining the blockchain's attributes. The significance of the Genesis block is outlined, emphasizing its role as the first block, with details about its parameters and attributes defining the blockchain.", 'The process of generating a digital signature in blockchain using hashing functions and signature algorithms is explained. The process of generating a digital signature in blockchain through hashing functions and signature algorithms is elaborated, providing insights into the technical process.', 'The differences between ADAPT (decentralized application) and a normal application are highlighted, focusing on their backend structure and data distribution. A comparison between ADAPT (decentralized application) and normal applications is presented, emphasizing differences in backend structure and data distribution.', 'The key differences between Bitcoin and Ethereum are outlined, including consensus mechanisms, hashing algorithms, mining times, and rewards. Key distinctions between Bitcoin and Ethereum are detailed, covering aspects such as consensus mechanisms, hashing algorithms, mining times, and rewards.', 'The steps involved in a blockchain project implementation, from requirement identification to controlling and monitoring the project, are listed. The stages of a blockchain project implementation, including requirement identification, planning, development, and controlling, are outlined to provide a comprehensive understanding of the process.']}, {'end': 14339.28, 'start': 14048.804, 'title': 'Blockchain use cases in supply chain', 'summary': 'Highlights the use of blockchain in supply chain management, explaining its role in providing transparency, traceability, and validation of transactions. it also covers the parts of evm memory, gas usage in transactions, forking in blockchain, proof of work versus proof of stake, and the concept of a 51% attack.', 'duration': 290.476, 'highlights': ['Blockchain use in supply chain management Supply chain management is the biggest adopter of blockchain, providing traceability and transparency of raw materials, allowing consumers to track the entire journey of a product.', 'Parts of EVM memory EVM memory consists of storage, memory, and stack, with storage being permanently stored on the blockchain network, while memory and stack are relatively cheaper and temporary.', 'Gas usage in transactions and transaction fee calculation Gas usage in transactions depends on the amount of storage used, with storage-based variables leading to higher transaction costs. The transaction fee is calculated in ethers as gas price multiplied by the gas limit.', 'Forking in blockchain Forking occurs when the blockchain splits into two branches due to disagreements over consensus algorithms or validation rules. There are three types of forking: hard forking, soft forking, and accidental forks.', 'Proof of work versus proof of stake Proof of work involves mining through solving complex mathematical puzzles, consuming significant resources, while proof of stake validates blocks based on the amount of tokens owned, aiming to reduce resource pressure.', '51% attack in blockchain A 51% attack allows individuals to control the majority of the mining power, enabling them to prevent new transactions, double spend coins, and take over the blockchain network.']}, {'end': 14552.53, 'start': 14339.28, 'title': 'Solidity function modifiers and crowd sale smart contract', 'summary': "Explains function modifiers in solidity, mentioning the widely used modifiers and provides an example of writing a crowd sale smart contract in solidity programming language, focusing on defining attributes and functions, along with the default function, and safe withdrawal method with an 'after deadline' modifier.", 'duration': 213.25, 'highlights': ['Function modifiers in Solidity are used to easily modify behavior of smart contracts, and the most widely used modifiers are view and pure functions. The function modifiers in Solidity can easily modify the behavior of smart contracts and the most widely used modifiers are view and pure functions.', 'Crowd sale smart contract attributes include address, uint, funding goal, duration, cost of each token in ethers, and address of the token used as a reward. The crowd sale smart contract attributes include address, uint, funding goal, duration, cost of each token in ethers, and address of the token used as a reward.', 'The default function in a Solidity contract ensures that all the amount passed to the smart contract is passed to the address and is called when an undefined method is invoked. The default function in a Solidity contract ensures that all the amount passed to the smart contract is passed to the address and is called when an undefined method is invoked.', 'The safe withdrawal method in the crowd sale smart contract is appended with a modifier called after deadline, which allows withdrawal only after the deadline has been achieved. The safe withdrawal method in the crowd sale smart contract is appended with a modifier called after deadline, which allows withdrawal only after the deadline has been achieved.']}], 'duration': 1321.853, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/SyVMma1IkXM/pics/SyVMma1IkXM13230677.jpg', 'highlights': ["Blockchain uses cryptography primarily to secure users' identities and ensure transactions are done safely with the hash function.", 'The attributes of a block include holding the hash value of the previous block, containing details of aggregated transactions, and having a value called nonce.', 'The SHA-256 algorithm is used in blockchain to ensure secure transactions and provides a unique hash output for every input.', 'Public, private, and consortium blockchains are discussed, with examples such as Bitcoin, Ethereum, Blockstack, and Ripple.', "The concept of a Genesis block is detailed, including its role as the first block in the blockchain and its parameters defining the blockchain's attributes.", 'The process of generating a digital signature in blockchain using hashing functions and signature algorithms is explained.', 'Blockchain use in supply chain management Supply chain management is the biggest adopter of blockchain, providing traceability and transparency of raw materials, allowing consumers to track the entire journey of a product.', 'Parts of EVM memory EVM memory consists of storage, memory, and stack, with storage being permanently stored on the blockchain network, while memory and stack are relatively cheaper and temporary.', 'Forking in blockchain Forking occurs when the blockchain splits into two branches due to disagreements over consensus algorithms or validation rules.', 'Proof of work versus proof of stake Proof of work involves mining through solving complex mathematical puzzles, consuming significant resources, while proof of stake validates blocks based on the amount of tokens owned, aiming to reduce resource pressure.', 'Function modifiers in Solidity are used to easily modify behavior of smart contracts, and the most widely used modifiers are view and pure functions.', 'Crowd sale smart contract attributes include address, uint, funding goal, duration, cost of each token in ethers, and address of the token used as a reward.', 'The default function in a Solidity contract ensures that all the amount passed to the smart contract is passed to the address and is called when an undefined method is invoked.', 'The safe withdrawal method in the crowd sale smart contract is appended with a modifier called after deadline, which allows withdrawal only after the deadline has been achieved.']}], 'highlights': ['Blockchain ensures data cannot be altered by any users within the network through the concept of a public distributed ledger.', 'Cryptocurrencies, enabled by blockchain, are immune to counterfeiting, do not require a central authority, and are protected by strong and complex encryption algorithms.', 'Bitcoin, a prominent cryptocurrency, utilizes blockchain to facilitate secure and transparent transactions, emphasizing the pivotal role of blockchain in revolutionizing traditional banking systems.', 'Blockchain creates a chain of blocks, ensuring data integrity by linking the previous hash value of a block to the hash value of its previous block.', 'Blockchain is a distributed database of immutable records secured using cryptography, ensuring data immutability.', "Blockchain transaction verification process involves passing the transaction through a hashing function, using a signature algorithm with the user's private key, and distributing the digitally signed document to the network with the public key, which is then verified by miners.", 'Applications of Blockchain in Various Industries: Blockchain technology is being applied in industries such as voting, supply chain, insurance, and accounting, offering benefits such as increased transparency in voting processes, provenance and traceability in supply chains, prevention of forgery and false claims in insurance, and accurate financial record-keeping in accounting.', 'Blockchain data is accessible to all network participants, ensuring transparency and auditability.', 'Any additions to the blockchain require approval from a majority of network members, ensuring decentralized control and consensus.', 'Blockchain transactions are immutable and permanent, enhancing security and trust.', 'Blockchain employs hash functions like SHA-256 to provide cryptographic security, ensuring data integrity and properties like determinism and one-way computation.', 'Blockchain technology streamlines KYC process using Truffle, Ethereum, Gnash, and smart contracts.', "Blockchain's disruption in banking provides high security and low-cost peer-to-peer payments, reducing transaction fees up to $10 per $100 transfer.", "Blockchain's impact on cybersecurity offers enhanced security against cyber attacks and unauthorized data access.", "Blockchain's influence on supply chain management enables transparent and validated transactions, enhancing transparency and validation of supply chain transactions.", "Blockchain's role in healthcare ensures rapid data access and improved privacy and security of medical records.", 'Ethereum allows the development and deployment of decentralized applications, usage of its own cryptocurrency called Eth, and creation of decentralized autonomous organizations.', 'Smart contracts on Ethereum facilitate the exchange of valuable assets between parties and operate without the need for a centralized authority.', 'Smart contracts enable automation, efficiency, and accuracy, with advantages including no intermediaries, automated processes, high-speed execution, data immutability, and accurate recording of terms and conditions.', 'Ethereum widely adopted in banking systems for remittances and payments.', 'Smart contracts eliminate the need for intermediaries, automate transaction processes, and ensure automatic execution based on predefined conditions, leading to lower transaction costs and advantages for end consumers.', 'The total supply of Bitcoin is limited to 21 million bitcoins, with approximately 17 to 18 million bitcoins already mined, leaving only 3 to 4 million bitcoins left.', 'The process of Bitcoin mining has evolved from using regular processors (CPUs) to graphical processing units (GPUs) and finally to application-specific integrated circuit (ASIC), which consumes less power and has higher computing power.', 'Blockchain wallets address the drawbacks of traditional transaction methods, such as slow transactions and single points of failure, by eliminating the need for intermediary channels and banks.', 'Blockchain wallets provide a safe and secure transfer and exchange of funds between different parties, managing various cryptocurrencies like bitcoin and ethereum, accessible from web or mobile devices.', 'Blockchain developers in the US earn an average of $130,000 per annum, with tech-oriented areas like Silicon Valley, New York, and Boston offering up to $150,000 per annum.', 'Major companies such as Alphabet, Bank of America, Wells Fargo, Apple, and Microsoft have heavily invested in incorporating blockchain into their processes, indicating a high demand for skilled blockchain professionals.', 'Walmart utilizes blockchain to track its supply chain, enabling identification and resolution of issues, while JPMorgan Chase & Co. has developed Quorum, a blockchain application facilitating private transactions among known participants.']}