title
Blockchain Tutorial | Blockchain Technology | Blockchain Explained | Blockchain Training | Edureka

description
πŸ”₯ Blockchain Training (Use Code "π˜πŽπ”π“π”ππ„πŸπŸŽ"): https://www.edureka.co/blockchain-training This Edureka Blockchain Tutorial video will give you a complete fundamental understanding regarding Blockchain and Bitcoin. This video helps you to learn following topics: 1. Issues With The Current Banking System. 2. How Bitcoin Can Help Overcome These Issues? 3. Bitcoin Transaction 4. Blockchain To The Rescue 5. Blockchain Concepts 6. Blockchain Features 7. Blockchain Use Case 8. Demo: Banking Use Case Check out our Blockchain Tutorial Playlist: http://bit.ly/2PZb8fd For doubts & queries on Blockchain, post the same on Edureka Community: https://www.edureka.co/community/blockchain Subscribe to our channel to get video updates. Hit the subscribe button above. Facebook: https://www.facebook.com/edurekaIN/ Twitter: https://twitter.com/edurekain LinkedIn: https://www.linkedin.com/company/edureka #Blockchain #Blockchaintutorial #Blockchainonlinetraining #Blockchainforbeginners How it Works? 1. This is a 4 Week Instructor led Online Course, 20 hours of assignment and 20 hours of project work 2. We have a 24x7 One-on-One LIVE Technical Support to help you with any problems you might face or any clarifications you may require during the course. 3. At the end of the training you will be working on a real time project for which we will provide you a Grade and a Verifiable Certificate! - - - - - - - - - - - - - - - - - About the Course Edureka's Blockchain Course is designed to introduce you to the concept of Blockchain and explain the fundamentals of blockchain and bitcoin. Blockchain course will provide an overview of the structure and mechanism of blockchain. As a beginner, you will be learning the importance of consensus in transactions, how transactions are stored on blockchain, history of bitcoin and how to use bitcoin. Furthermore, you will be taught about the Ethereum platform and its programming language. You will setup your own private blockchain environment using Ethereum. Also, you will develop a smart contract on private Ethereum blockchain and will be deploying the contract from web and console. The course is fed with various use-cases and examples, which makes the learning more interesting. After completing this Course, you should be able to: 1. Comprehend the cryptography and cryptocurrency concepts 2. Encompass the concept of blockchain 3. Understand the importance of blockchain technology 4. Have a deep insight into bitcoin and its network 5. Perceive, how bitcoin transactions are validated by miners 6. Create and use bitcoin account effectively 7. Understand Ethereum blockchain 8. Learn Solidity: Prominent language to develop smart contracts 9. Deploy your private blockchain on web where you can visually see your chains 10. Send transactions between nodes 11. Develop more than one nodes on same blockchain 12. Making your own cryptocurrency 13. Discuss the compelling use-cases of the blockchain 14. Interpret the prospects of blockchain. 15. Assess, how blockchain can improve your business standards. ----------------------------------- Who should go for this course? Anyone having basic programming knowledge and has a zeal to learn new technology can take up the course. Students and professionals aspiring to make a career in the Blockchain technology should opt for the course. ----------------------------------- Why learn Blockchain? Blockchain is a revolutionary technology. It is an ordered back linked-list data structure of blocks of transactions stored in a decentralized peer- to-peer network. It is the underlying infrastructure for bitcoin, a popular cryptocurrency. In near future, many companies will be adopting blockchain technologies for trading publicly. Apart from bitcoin, it can be used for a wide variety of applications such as tracking ownership, digital assets, physical assets, or voting rights. It can also store and run computer code called β€˜smart contracts’. However, blockchain is still new and the communities are still exploring the best ways in which it can be used. For more information, Please write back to us at sales@edureka.co or call us at IND: 9606058406 / US: 18338555775 (toll free).

detail
{'title': 'Blockchain Tutorial | Blockchain Technology | Blockchain Explained | Blockchain Training | Edureka', 'heatmap': [{'end': 833.772, 'start': 735.334, 'weight': 0.73}, {'end': 2026.998, 'start': 1975.373, 'weight': 0.818}, {'end': 2394.262, 'start': 2251.321, 'weight': 0.847}], 'summary': "This tutorial covers blockchain, bitcoin's role in transaction management, and challenges in the banking system. it explains bitcoin mining, security impact, and blockchain's implementation across domains, including potential $20 billion cost savings in banking, increased security, and transformative impact on domains like election and voting, banking, real estate, digital music, and internet of things.", 'chapters': [{'end': 95.414, 'segs': [{'end': 37.433, 'src': 'embed', 'start': 0.21, 'weight': 0, 'content': [{'end': 4.67, 'text': 'Hello everyone, this is Neil from Edureka and welcome to this blockchain tutorial session.', 'start': 0.21, 'duration': 4.46}, {'end': 10.359, 'text': "Now, blockchain and Bitcoin are some of the most trending keywords as part of today's technology.", 'start': 5.615, 'duration': 4.744}, {'end': 15.062, 'text': 'And even those who are not familiar with cryptocurrency are quite interested in the same.', 'start': 10.699, 'duration': 4.363}, {'end': 18.224, 'text': "And today's session will give you a complete idea with respect to both.", 'start': 15.602, 'duration': 2.622}, {'end': 22.167, 'text': "Without wasting any time, let's move forward and look at today's agenda for the session.", 'start': 18.845, 'duration': 3.322}, {'end': 30.193, 'text': 'Now, blockchain is being used highly for transaction management and it is replacing the current existing transaction management system.', 'start': 23.008, 'duration': 7.185}, {'end': 37.433, 'text': "If a technology is replacing the existing systems there must be certain problems and that's exactly what we'll be discussing at the first.", 'start': 31.007, 'duration': 6.426}], 'summary': 'Blockchain & bitcoin are trending tech; blockchain replacing existing transaction systems.', 'duration': 37.223, 'max_score': 0.21, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U210.jpg'}, {'end': 95.414, 'src': 'embed', 'start': 56.93, 'weight': 1, 'content': [{'end': 60.773, 'text': "as well as we'll see where blockchain is being used apart from the banking domain.", 'start': 56.93, 'duration': 3.843}, {'end': 65.717, 'text': "Finally, towards the later half of the session, we'll be looking at a banking use case demo,", 'start': 61.433, 'duration': 4.284}, {'end': 71.701, 'text': "where what we'll be doing is we'll try to create an alternative banking system as well as we'll try to make it a bit better.", 'start': 65.717, 'duration': 5.984}, {'end': 75.805, 'text': "Since you are reinventing something, let's try to make it better than anything that is there.", 'start': 72.162, 'duration': 3.643}, {'end': 82.986, 'text': "So for that first what we'll be doing is we'll be installing GoEthereum and then we'll be registering an account to GoEthereum blockchain.", 'start': 76.502, 'duration': 6.484}, {'end': 87.649, 'text': 'GoEthereum basically is an online blockchain system which helps you manage your cryptocurrency.', 'start': 83.426, 'duration': 4.223}, {'end': 95.414, 'text': "Once you've done this we'll try to create a private autonomous blockchain on our system itself and then we'll try to perform transactions internally.", 'start': 88.329, 'duration': 7.085}], 'summary': 'Exploring non-banking blockchain usage and creating an alternative banking system with goethereum.', 'duration': 38.484, 'max_score': 56.93, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U56930.jpg'}], 'start': 0.21, 'title': 'Blockchain and bitcoin', 'summary': 'Discusses the rising interest in blockchain and bitcoin, their role in transaction management, and covers various blockchain concepts and features, as well as a banking use case demo.', 'chapters': [{'end': 95.414, 'start': 0.21, 'title': 'Blockchain tutorial and bitcoin overview', 'summary': "Discusses the rising interest in blockchain and bitcoin, their role in transaction management, and the agenda for the session, including the problems being addressed, bitcoin's solutions, various blockchain concepts and features, and a banking use case demo.", 'duration': 95.204, 'highlights': ["Blockchain and Bitcoin are trending keywords in today's technology, generating high interest even among those unfamiliar with cryptocurrency.", 'Blockchain is replacing the current transaction management system, addressing certain problems in the existing systems.', "The session agenda includes discussions on Bitcoin's role in solving transaction issues, various blockchain concepts and features, and a banking use case demo to create an alternative and improved banking system.", 'GoEthereum, an online blockchain system, will be installed to manage cryptocurrency and create a private autonomous blockchain for internal transactions.']}], 'duration': 95.204, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U210.jpg', 'highlights': ["Blockchain and Bitcoin are trending keywords in today's technology, generating high interest even among those unfamiliar with cryptocurrency.", "The session agenda includes discussions on Bitcoin's role in solving transaction issues, various blockchain concepts and features, and a banking use case demo to create an alternative and improved banking system.", 'Blockchain is replacing the current transaction management system, addressing certain problems in the existing systems.', 'GoEthereum, an online blockchain system, will be installed to manage cryptocurrency and create a private autonomous blockchain for internal transactions.']}, {'end': 740.518, 'segs': [{'end': 197.775, 'src': 'embed', 'start': 169.587, 'weight': 1, 'content': [{'end': 176.654, 'text': "But before we go into the parallel system in detail, let's try to talk about the challenges that are faced with the current existing banking system.", 'start': 169.587, 'duration': 7.067}, {'end': 180.398, 'text': "Now the first challenge we'll be talking about is the transactional fees.", 'start': 177.435, 'duration': 2.963}, {'end': 183.406, 'text': "Now let's take the simple example here.", 'start': 181.325, 'duration': 2.081}, {'end': 189.93, 'text': 'When Chandler wants to send $100 to Joey, due to a transactional fees of $2, Joey ends up getting only $98.', 'start': 183.526, 'duration': 6.404}, {'end': 197.775, 'text': "Now it may not seem a huge amount, but let's assume that every day there are 10,000 transactions that happen.", 'start': 189.93, 'duration': 7.845}], 'summary': 'High transactional fees result in $20,000 daily loss for users.', 'duration': 28.188, 'max_score': 169.587, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U169587.jpg'}, {'end': 241.674, 'src': 'embed', 'start': 211.143, 'weight': 0, 'content': [{'end': 215.587, 'text': 'made close to 6 billion just from ATM and overdraft transaction fees.', 'start': 211.143, 'duration': 4.444}, {'end': 217.549, 'text': 'So this is a very huge amount.', 'start': 215.887, 'duration': 1.662}, {'end': 223.935, 'text': 'And most banking and financial organizations depend on these kinds of fees to have their source of income as well.', 'start': 218.149, 'duration': 5.786}, {'end': 227.911, 'text': "Now, wouldn't we all like not to have a transaction fees?", 'start': 224.77, 'duration': 3.141}, {'end': 233.132, 'text': 'because every transaction that we make, be it in an ATM, be it net transfer, be it bank withdrawal,', 'start': 227.911, 'duration': 5.221}, {'end': 235.692, 'text': 'everything these days comes with a fixed transaction fees.', 'start': 233.132, 'duration': 2.56}, {'end': 241.674, 'text': "Even though it would be a small amount, wouldn't we be happy if we could save that? Definitely, I don't want to save that.", 'start': 236.233, 'duration': 5.441}], 'summary': 'Banks made close to 6 billion from atm and overdraft fees, a significant source of income.', 'duration': 30.531, 'max_score': 211.143, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U211143.jpg'}, {'end': 296.825, 'src': 'embed', 'start': 272.062, 'weight': 2, 'content': [{'end': 278.766, 'text': 'because the digital signature attached which digital transactions can be to an extent falsified and copied as well.', 'start': 272.062, 'duration': 6.704}, {'end': 283.109, 'text': 'This makes double spending quite possible and is something that is of a challenge.', 'start': 279.186, 'duration': 3.923}, {'end': 291.394, 'text': 'Now this is one challenge that most banking or digital financial solutions had faced across when they were working with online payment transactions.', 'start': 283.449, 'duration': 7.945}, {'end': 296.825, 'text': "Apart from this there's also the challenge of financial crisis and financial depression.", 'start': 292.335, 'duration': 4.49}], 'summary': 'Digital signatures can be falsified, posing a challenge for online payment transactions. financial crisis and depression are also challenges.', 'duration': 24.763, 'max_score': 272.062, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U272062.jpg'}, {'end': 381.666, 'src': 'embed', 'start': 355.152, 'weight': 3, 'content': [{'end': 360.173, 'text': 'Almost all currencies out there today are actually controlled to an extent by a central authority.', 'start': 355.152, 'duration': 5.021}, {'end': 367.843, 'text': 'However, with Bitcoin, this system got decentralized and distributed among everyone who was part of the Bitcoin system.', 'start': 361.093, 'duration': 6.75}, {'end': 369.365, 'text': 'And it keeps growing on.', 'start': 368.344, 'duration': 1.021}, {'end': 375.815, 'text': "Let's say tomorrow you move into the Bitcoin system, then definitely you are also part of it and you hold a certain power to that as well.", 'start': 369.906, 'duration': 5.909}, {'end': 381.666, 'text': "Now how that happens, that we'll be talking in our upcoming sessions as to how the value of Bitcoins keeps changing.", 'start': 376.601, 'duration': 5.065}], 'summary': 'Bitcoin decentralized currency system empowers its users, with growing adoption.', 'duration': 26.514, 'max_score': 355.152, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U355152.jpg'}, {'end': 446.62, 'src': 'embed', 'start': 415.77, 'weight': 4, 'content': [{'end': 419.232, 'text': 'However, with blockchain system, the ledger in itself is public.', 'start': 415.77, 'duration': 3.462}, {'end': 426.335, 'text': 'Everyone who becomes part of this blockchain network gets a complete copy of the entire blockchain as soon as they sign up.', 'start': 419.832, 'duration': 6.503}, {'end': 429.756, 'text': 'So immediately when you sign up for the Bitcoin blockchain,', 'start': 426.655, 'duration': 3.101}, {'end': 434.957, 'text': 'you get a list of complete transactions that has happened from the start of Bitcoin transaction.', 'start': 429.756, 'duration': 5.201}, {'end': 441.319, 'text': "Now that's a huge amount of transactions, but blockchain makes it very easy, as well as completely secure,", 'start': 435.337, 'duration': 5.982}, {'end': 446.62, 'text': 'to store all this transaction details and at the same time, ensures that none of this gets manipulated.', 'start': 441.319, 'duration': 5.301}], 'summary': 'Blockchain system provides public ledger, with complete transaction details and security for bitcoin network.', 'duration': 30.85, 'max_score': 415.77, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U415770.jpg'}, {'end': 504.213, 'src': 'embed', 'start': 475.309, 'weight': 5, 'content': [{'end': 480.611, 'text': 'Every now and then we do hear that a financial organization has been hacked and certain data has been leaked.', 'start': 475.309, 'duration': 5.302}, {'end': 484.812, 'text': 'certain transaction details are released, certain amount has been stolen from their accounts.', 'start': 480.611, 'duration': 4.201}, {'end': 487.533, 'text': 'And so all this is something that we have heard every now and then.', 'start': 484.872, 'duration': 2.661}, {'end': 491.215, 'text': 'But blockchain system is completely immutable to hack.', 'start': 488.093, 'duration': 3.122}, {'end': 495.176, 'text': 'Any transaction that takes place cannot be modified ahead.', 'start': 491.915, 'duration': 3.261}, {'end': 504.213, 'text': 'And even if you try to modify it, the blockchain system is built so securely and so smartly that this false transaction detail gets rejected.', 'start': 496.007, 'duration': 8.206}], 'summary': 'Blockchain system is immune to hacking, making transactions immutable and secure.', 'duration': 28.904, 'max_score': 475.309, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U475309.jpg'}, {'end': 541.78, 'src': 'embed', 'start': 512.879, 'weight': 6, 'content': [{'end': 518.903, 'text': 'As I had mentioned, most financial organizations that have a digital platform have faced the challenge of double spending.', 'start': 512.879, 'duration': 6.024}, {'end': 522.085, 'text': 'Through blockchain system double spending is not possible.', 'start': 519.303, 'duration': 2.782}, {'end': 527.929, 'text': 'And this is basically because of how the blockchain system in itself was structured and created.', 'start': 522.645, 'duration': 5.284}, {'end': 535.775, 'text': 'Now, the double spending problem was something that was faced quite popularly at the time when the blockchain system was becoming popular.', 'start': 528.769, 'duration': 7.006}, {'end': 541.78, 'text': 'Keeping this in mind, they had structured the blockchain system in such a way that, even in future,', 'start': 536.315, 'duration': 5.465}], 'summary': 'Blockchain system prevents double spending in financial organizations.', 'duration': 28.901, 'max_score': 512.879, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U512879.jpg'}, {'end': 658.742, 'src': 'embed', 'start': 624.93, 'weight': 7, 'content': [{'end': 628.733, 'text': "But let's say if you do wish to add a specific transaction charge, you can do that.", 'start': 624.93, 'duration': 3.803}, {'end': 632.836, 'text': 'There are certain cryptocurrencies that do follow a specific transaction fees,', 'start': 628.913, 'duration': 3.923}, {'end': 638.921, 'text': 'but this is comparably minute when you see the transaction fees that is associated to a bank transaction.', 'start': 632.836, 'duration': 6.085}, {'end': 641.563, 'text': 'So, does this solve most of your problems??', 'start': 639.882, 'duration': 1.681}, {'end': 643.605, 'text': 'Can I have a quick confirmation in the chat box?', 'start': 642.064, 'duration': 1.541}, {'end': 647.934, 'text': 'Okay, so Aditya is asking me how realistic is it at?', 'start': 645.512, 'duration': 2.422}, {'end': 650.836, 'text': 'So, Aditya, let me give you this understanding.', 'start': 648.394, 'duration': 2.442}, {'end': 658.742, 'text': 'The value of a Bitcoin was somewhere close to $1,100 in the start of the year, that was January 2011.', 'start': 651.576, 'duration': 7.166}], 'summary': "Cryptocurrency transaction fees are minute compared to bank transaction fees, with bitcoin's value at $1,100 in january 2011.", 'duration': 33.812, 'max_score': 624.93, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U624930.jpg'}], 'start': 95.514, 'title': "Challenges in banking system and bitcoin's solutions", 'summary': 'Discusses the issues of varying interest rates, transactional charges, and financial crisis in the banking system, with quantifiable data on transaction fees and the 2008 financial depression. it also explains how bitcoin addresses centralized power, transparency, security, double spending, and transaction fees, providing minimal transaction fees and increasing trust and investment.', 'chapters': [{'end': 330.972, 'start': 95.514, 'title': 'Challenges in banking system', 'summary': 'Discusses the issues with the current banking system, including varying interest rates, transactional charges, financial crisis, and net banking frauds, and highlights the challenges of transactional fees, double spending, and financial crisis, including quantifiable data on transaction fees and the 2008 financial depression.', 'duration': 235.458, 'highlights': ['The year 2015 saw JP Morgan, Bank of America, and Wells Fargo making close to 6 billion just from ATM and overdraft transaction fees. In 2015, JP Morgan, Bank of America, and Wells Fargo made close to 6 billion from ATM and overdraft transaction fees.', 'The challenge of transactional fees is illustrated with an example where a 2% commission on 10,000 transactions results in a significant amount, highlighting the impact of transaction fees on a large scale. The challenge of transactional fees is highlighted with an example showing the significant impact of a 2% commission on 10,000 transactions.', 'The chapter explains the challenge of double spending in digital transactions and its potential implications, providing a clear understanding of the issue and its relevance in online payment transactions. The challenge of double spending in digital transactions is explained, emphasizing its relevance in online payment transactions.']}, {'end': 740.518, 'start': 331.712, 'title': "Bitcoin's solutions to financial challenges", 'summary': 'Explains how bitcoin addresses centralized power, transparency, security, double spending, and transaction fees. bitcoin decentralizes power, provides a public ledger, ensures security against hacking, prevents double spending, and offers minimal transaction fees, with its value growing due to increasing trust and investment.', 'duration': 408.806, 'highlights': ['Decentralization of power in Bitcoin system Bitcoin decentralizes the power held by a central governing authority and distributes it among all participants, making each participant influential in the system.', 'Transparency of blockchain system Blockchain system provides a public ledger, ensuring every participant has complete transaction details and maintains the security and integrity of the data.', 'Security against hacking in blockchain system Blockchain system is immutable to hacking, rejecting any attempt to modify transaction details, thus ensuring a secure financial network.', 'Prevention of double spending in blockchain system Blockchain system is structured to prevent double spending, addressing a major challenge faced by digital financial organizations.', 'Minimal transaction fees in cryptocurrency Most cryptocurrencies, including Bitcoin, offer minimal transaction fees, which are comparably minute when compared to traditional bank transaction fees.']}], 'duration': 645.004, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U95514.jpg', 'highlights': ['In 2015, JP Morgan, Bank of America, and Wells Fargo made close to 6 billion from ATM and overdraft transaction fees.', 'The challenge of transactional fees is highlighted with an example showing the significant impact of a 2% commission on 10,000 transactions.', 'The challenge of double spending in digital transactions is explained, emphasizing its relevance in online payment transactions.', 'Bitcoin decentralizes the power held by a central governing authority and distributes it among all participants.', 'Blockchain system provides a public ledger, ensuring every participant has complete transaction details and maintains the security and integrity of the data.', 'Blockchain system is immutable to hacking, rejecting any attempt to modify transaction details, thus ensuring a secure financial network.', 'Blockchain system is structured to prevent double spending, addressing a major challenge faced by digital financial organizations.', 'Most cryptocurrencies, including Bitcoin, offer minimal transaction fees, which are comparably minute when compared to traditional bank transaction fees.']}, {'end': 1723.796, 'segs': [{'end': 793.721, 'src': 'embed', 'start': 763.058, 'weight': 0, 'content': [{'end': 765.561, 'text': 'You can say it is the spine of Bitcoin system.', 'start': 763.058, 'duration': 2.503}, {'end': 772.308, 'text': 'To put it quite simply, blockchain is actually a public distributed database which holds the encrypted ledger.', 'start': 766.262, 'duration': 6.046}, {'end': 777.934, 'text': 'So why is it encrypted? To keep the details of the people involved in it completely anonymous.', 'start': 772.829, 'duration': 5.105}, {'end': 781.378, 'text': 'Apart from this, what exactly is a block you might be wondering.', 'start': 778.375, 'duration': 3.003}, {'end': 787.44, 'text': 'A block is a collection of all the recent transactions that have happened and are verified.', 'start': 781.798, 'duration': 5.642}, {'end': 793.721, 'text': 'You group all these transaction details, create a hash code for this and then you store it in a block.', 'start': 787.78, 'duration': 5.941}], 'summary': 'Blockchain is a public distributed database holding encrypted ledger, with blocks being collections of recent verified transactions.', 'duration': 30.663, 'max_score': 763.058, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U763058.jpg'}, {'end': 847.918, 'src': 'embed', 'start': 824.588, 'weight': 1, 'content': [{'end': 833.772, 'text': 'Now Bitcoin is the first decentralized digital currency that came into the market and was introduced in 2009 by a pseudonym called Satoshi Nakamoto.', 'start': 824.588, 'duration': 9.184}, {'end': 840.796, 'text': 'Now he brought in the concept of Bitcoin and blockchain together in an open paper and this was something of a revolution.', 'start': 834.353, 'duration': 6.443}, {'end': 847.918, 'text': 'It was not until July 2009 the first blockchain came into implementation and became quite popular since then.', 'start': 841.636, 'duration': 6.282}], 'summary': 'Bitcoin, introduced in 2009 by satoshi nakamoto, revolutionized the concept of blockchain and became popular since the first blockchain implementation in july 2009.', 'duration': 23.33, 'max_score': 824.588, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U824588.jpg'}, {'end': 933.825, 'src': 'embed', 'start': 908.037, 'weight': 4, 'content': [{'end': 914.438, 'text': "Now, if you need to change any specific transactions, let's say you are trying to send someone Bitcoins that you don't have.", 'start': 908.037, 'duration': 6.401}, {'end': 918.739, 'text': "Let's say I want to send 500 Bitcoins to every one of you who are part of the session.", 'start': 914.858, 'duration': 3.881}, {'end': 920.299, 'text': 'This becomes impossible.', 'start': 919.159, 'duration': 1.14}, {'end': 928.583, 'text': 'Because the ledger in itself is completely electronic as well as every transaction is verified and validated before it gets added to the block.', 'start': 920.999, 'duration': 7.584}, {'end': 931.404, 'text': 'Now going back to our previous topic that was blockchain.', 'start': 929.023, 'duration': 2.381}, {'end': 933.825, 'text': 'Now in a block there are mainly three key concepts.', 'start': 931.824, 'duration': 2.001}], 'summary': "Transactions on blockchain are verified and validated before being added to the block, making it impossible to send bitcoins you don't have.", 'duration': 25.788, 'max_score': 908.037, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U908037.jpg'}, {'end': 1052.06, 'src': 'embed', 'start': 1026.201, 'weight': 3, 'content': [{'end': 1033.046, 'text': 'So even if you try to falsify, or even if you try to fake a specific transaction or a detail with respect to the ledger,', 'start': 1026.201, 'duration': 6.845}, {'end': 1034.446, 'text': 'it is not going to get accepted.', 'start': 1033.046, 'duration': 1.4}, {'end': 1041.531, 'text': 'Apart from that, since the ledger in itself gets distributed throughout the network, everyone has a valid copy of the same.', 'start': 1034.867, 'duration': 6.664}, {'end': 1045.935, 'text': "Let's say, if you try to change even one specific transaction which is part of the block,", 'start': 1041.952, 'duration': 3.983}, {'end': 1052.06, 'text': 'it does not get accepted because majority of the people of the network have a copy of the block which is valid.', 'start': 1045.935, 'duration': 6.125}], 'summary': 'Blockchain technology ensures secure and distributed ledger, preventing falsification or tampering with transactions.', 'duration': 25.859, 'max_score': 1026.201, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U1026201.jpg'}, {'end': 1635.236, 'src': 'embed', 'start': 1607.81, 'weight': 2, 'content': [{'end': 1611.751, 'text': 'Even if you go by the minimalistic amount, that is one millionth Bitcoin.', 'start': 1607.81, 'duration': 3.941}, {'end': 1614.987, 'text': "So that's not a huge number for them to invest.", 'start': 1612.486, 'duration': 2.501}, {'end': 1616.768, 'text': 'They would be investing a lot more than that.', 'start': 1615.047, 'duration': 1.721}, {'end': 1618.849, 'text': "Okay, don't plant your heads anymore.", 'start': 1617.388, 'duration': 1.461}, {'end': 1619.709, 'text': 'Let me answer that.', 'start': 1618.929, 'duration': 0.78}, {'end': 1625.251, 'text': 'The miners who validate the transaction as well as complete the next block of the blockchain,', 'start': 1620.349, 'duration': 4.902}, {'end': 1629.573, 'text': 'get a 12.5 Bitcoin as an incentive for the creation of the new block.', 'start': 1625.251, 'duration': 4.322}, {'end': 1635.236, 'text': 'Now, this is something that gets created out of thin air and gets added to their Bitcoin wallet associated to it.', 'start': 1629.933, 'duration': 5.303}], 'summary': 'Miners receive 12.5 bitcoin for creating a new block out of thin air.', 'duration': 27.426, 'max_score': 1607.81, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U1607810.jpg'}], 'start': 740.979, 'title': 'Blockchain, bitcoin basics & transaction system', 'summary': 'Covers the fundamentals of blockchain, including its role as a public distributed database and the characteristics of bitcoin with its restricted supply. it also explains the bitcoin transaction system, highlighting the validation process, prevention of double spending, and the security of the blockchain system.', 'chapters': [{'end': 1065.573, 'start': 740.979, 'title': 'Blockchain and bitcoin basics', 'summary': 'Discusses the basics of blockchain and bitcoin, highlighting that blockchain is a public distributed database holding encrypted ledger, and bitcoin is the first decentralized digital currency with a restricted supply of 21 million, and the blockchain ensures the security and validity of transactions.', 'duration': 324.594, 'highlights': ['Blockchain is a public distributed database holding encrypted ledger to ensure anonymity, and a new block is created every 10 minutes, with a growing chain. Blockchain is a public distributed database holding encrypted ledger to ensure anonymity, and a new block is created every 10 minutes, with a growing chain.', 'Bitcoin is the first decentralized digital currency with a restricted supply of 21 million, and the blockchain ensures the security and validity of transactions. Bitcoin is the first decentralized digital currency with a restricted supply of 21 million, and the blockchain ensures the security and validity of transactions.', 'The ledger system for Bitcoin is completely electronic and highly secure, and only 14 million bitcoins have been created as of 2016. The ledger system for Bitcoin is completely electronic and highly secure, and only 14 million bitcoins have been created as of 2016.', "In a block, there are mainly three key concepts: the previous block's hash code, the complete hash details of every transaction that has happened, and the value or proof of work for that block. In a block, there are mainly three key concepts: the previous block's hash code, the complete hash details of every transaction that has happened, and the value or proof of work for that block.", 'The ledger in itself gets distributed throughout the network, and every transaction and block is highly secure, valid, and verified. The ledger in itself gets distributed throughout the network, and every transaction and block is highly secure, valid, and verified.']}, {'end': 1723.796, 'start': 1066.054, 'title': 'Bitcoin transaction system overview', 'summary': 'Explains how bitcoin transactions occur, detailing the validation process by miners, the prevention of double spending, and the incentives for miners, with emphasis on the security and immutability of the blockchain system.', 'duration': 657.742, 'highlights': ['Miners receive 12.5 Bitcoins as an incentive for creating a new block every 10 minutes, which amounts to approximately $33,000, encouraging their participation in the validation process. Miners are rewarded with 12.5 Bitcoins for creating a new block every 10 minutes, providing a significant financial incentive for their participation in the validation process.', 'The blockchain system has never been directly hacked or modified, ensuring the security and immutability of the system, while incidents of hacking have occurred at the application level built on top of the blockchain. The blockchain system has never been directly hacked or modified, establishing its robust security and resistance to tampering, with any hacking incidents occurring at the application level built on top of the blockchain.', "The process of Bitcoin transactions involves validation by miners to ensure the sender has sufficient balance, with the ledger getting updated after successful transactions, preventing the possibility of double spending. Miners validate Bitcoin transactions by checking the sender's balance and updating the ledger after successful transactions, effectively preventing double spending within the blockchain system."]}], 'duration': 982.817, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U740979.jpg', 'highlights': ['Blockchain is a public distributed database holding encrypted ledger to ensure anonymity, and a new block is created every 10 minutes, with a growing chain.', 'Bitcoin is the first decentralized digital currency with a restricted supply of 21 million, and the blockchain ensures the security and validity of transactions.', 'Miners receive 12.5 Bitcoins for creating a new block every 10 minutes, providing a significant financial incentive for their participation in the validation process.', 'The ledger in itself gets distributed throughout the network, and every transaction and block is highly secure, valid, and verified.', 'The process of Bitcoin transactions involves validation by miners to ensure the sender has sufficient balance, with the ledger getting updated after successful transactions, preventing the possibility of double spending.']}, {'end': 2337.545, 'segs': [{'end': 1777.73, 'src': 'embed', 'start': 1724.056, 'weight': 0, 'content': [{'end': 1730.062, 'text': 'Because, again, the resource needed for mining a block is not less, and Day by day it keeps increasing as well,', 'start': 1724.056, 'duration': 6.006}, {'end': 1734.345, 'text': 'because the complexity involved in solving a block keeps growing day by day.', 'start': 1730.062, 'duration': 4.283}, {'end': 1741.571, 'text': 'As we had mentioned earlier, there is a certain level of complexity that is involved in mining and this keeps growing as time goes.', 'start': 1734.766, 'duration': 6.805}, {'end': 1746.215, 'text': 'Because a lot more people are mining today when compared to six or eight months back.', 'start': 1741.892, 'duration': 4.323}, {'end': 1749.538, 'text': 'And this is mainly because of their attraction for the incentives.', 'start': 1746.616, 'duration': 2.922}, {'end': 1755.223, 'text': 'But at the same time, since more miners are coming, we need to ensure that the Bitcoin system does not get depleted.', 'start': 1749.758, 'duration': 5.465}, {'end': 1759.704, 'text': "as i had mentioned earlier, there's only 21 million bitcoins that can be mined,", 'start': 1755.703, 'duration': 4.001}, {'end': 1764.466, 'text': 'so the system in itself makes it difficult for you to compute the resource and, as i had mentioned,', 'start': 1759.704, 'duration': 4.762}, {'end': 1768.287, 'text': 'just check how efficient it would be for you to become a miner.', 'start': 1764.466, 'duration': 3.821}, {'end': 1771.048, 'text': 'okay, great to see that you guys have understood till here.', 'start': 1768.287, 'duration': 2.761}, {'end': 1777.73, 'text': "now it's time we try to understand how blockchain achieves the bitcoin solution or the bitcoin parallel system.", 'start': 1771.048, 'duration': 6.682}], 'summary': 'Mining complexity increases daily due to more miners attracted by incentives, but must avoid depleting 21 million bitcoins.', 'duration': 53.674, 'max_score': 1724.056, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U1724056.jpg'}, {'end': 1862.804, 'src': 'embed', 'start': 1836.05, 'weight': 3, 'content': [{'end': 1842.452, 'text': 'Once the new block is created, it goes on to get added to the existing blockchain and the transaction process gets completed.', 'start': 1836.05, 'duration': 6.402}, {'end': 1845.079, 'text': "Quite simple don't you think? Definitely.", 'start': 1843.018, 'duration': 2.061}, {'end': 1852.781, 'text': 'Herein it also avoids the need for a third party who in turn acts as a mediatory between the sender and the receiver.', 'start': 1845.439, 'duration': 7.342}, {'end': 1862.804, 'text': 'Thereby. this exactly avoids the need for a transaction fees as well and is one of the key factors that has increased the popularity of blockchain and bitcoin network as such.', 'start': 1853.241, 'duration': 9.563}], 'summary': "Blockchain's direct transactions avoid third-party fees, increasing its popularity.", 'duration': 26.754, 'max_score': 1836.05, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U1836050.jpg'}, {'end': 1898.384, 'src': 'embed', 'start': 1870.917, 'weight': 4, 'content': [{'end': 1876.988, 'text': "It is again a publicly distributed database where you're holding encrypted ledgers of everyone involved in the blockchain.", 'start': 1870.917, 'duration': 6.071}, {'end': 1884.972, 'text': 'Now once a transaction gets verified and validated, it becomes part of the new block and the new block in turn gets added to the blockchain.', 'start': 1877.506, 'duration': 7.466}, {'end': 1892.039, 'text': 'Now the number of transactions at this point could be all the recent transactions or only those that have been completed as well.', 'start': 1885.573, 'duration': 6.466}, {'end': 1898.384, 'text': 'This depends on the total number of transactions that get verified and validated in the time that a new block gets created.', 'start': 1892.399, 'duration': 5.985}], 'summary': 'Publicly distributed database holds encrypted ledgers of blockchain participants, with verified transactions added to new blocks.', 'duration': 27.467, 'max_score': 1870.917, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U1870917.jpg'}, {'end': 1936.617, 'src': 'embed', 'start': 1911.638, 'weight': 5, 'content': [{'end': 1920.487, 'text': 'Now as I had mentioned, once you join the blockchain, you can get the complete block list right from 2009 when the first blockchain was implemented.', 'start': 1911.638, 'duration': 8.849}, {'end': 1925.668, 'text': "Moving forward, let's try to address the three key features that make blockchain so popular.", 'start': 1921.124, 'duration': 4.544}, {'end': 1928.79, 'text': 'The first is the blockchain cryptography.', 'start': 1926.128, 'duration': 2.662}, {'end': 1936.617, 'text': 'Now you use a combination of public key and private key cryptography apart from also using a highly secure hashing algorithm.', 'start': 1929.211, 'duration': 7.406}], 'summary': 'Joining the blockchain provides access to the complete block list from 2009. three key features: blockchain cryptography, public-private key cryptography, and highly secure hashing algorithm.', 'duration': 24.979, 'max_score': 1911.638, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U1911638.jpg'}, {'end': 1974.666, 'src': 'embed', 'start': 1947.167, 'weight': 6, 'content': [{'end': 1955.197, 'text': "Apart from this, we use a P2P network that is a peer-to-peer network which ensures that there's complete consistency with the blockchain.", 'start': 1947.167, 'duration': 8.03}, {'end': 1962.6, 'text': "Let's say, even if one person tries to make a slight change with respect to a transaction or a block which is part of the blockchain,", 'start': 1955.777, 'duration': 6.823}, {'end': 1967.162, 'text': 'then that changed block does not get added or reflected in the blockchain.', 'start': 1962.6, 'duration': 4.562}, {'end': 1974.666, 'text': 'Because most people in the network have the original blockchain, this changed block does not get accepted and gets rejected as well.', 'start': 1967.482, 'duration': 7.184}], 'summary': 'P2p network ensures blockchain consistency and rejects unauthorized changes.', 'duration': 27.499, 'max_score': 1947.167, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U1947167.jpg'}, {'end': 2026.998, 'src': 'heatmap', 'start': 1975.373, 'weight': 0.818, 'content': [{'end': 1981.752, 'text': 'Apart from that, the program in which blockchain is created has a lot of protocols as well as security feature in itself.', 'start': 1975.373, 'duration': 6.379}, {'end': 1987.366, 'text': 'Now talking about the private key cryptography, here again you use a public key and a private key.', 'start': 1982.182, 'duration': 5.184}, {'end': 1990.008, 'text': 'What you do basically is that you share your public key.', 'start': 1987.586, 'duration': 2.422}, {'end': 1993.03, 'text': 'This is similar to the account number that we had discussed earlier.', 'start': 1990.348, 'duration': 2.682}, {'end': 2000.136, 'text': 'So what usually happens is that, in case, if you do want to send your money to someone, you basically request them for their public key,', 'start': 1993.371, 'duration': 6.765}, {'end': 2007.101, 'text': 'and then what you do is you share your public key, their public key, as well as the amount that needs to be sent as part of the transaction details.', 'start': 2000.136, 'duration': 6.965}, {'end': 2009.943, 'text': "Now, based on what data you're sharing.", 'start': 2007.621, 'duration': 2.322}, {'end': 2017.069, 'text': 'you can select whether It has to be encrypted by the public key or the private key, and the other would be used for decrypting the data.', 'start': 2009.943, 'duration': 7.126}, {'end': 2021.073, 'text': "It's completely an asymmetrical encryption process that takes place.", 'start': 2017.369, 'duration': 3.704}, {'end': 2023.575, 'text': 'Now apart from this we use a P2P network.', 'start': 2021.453, 'duration': 2.122}, {'end': 2025.156, 'text': 'How does the P2P network work?', 'start': 2023.695, 'duration': 1.461}, {'end': 2026.998, 'text': 'Now, suppose A.', 'start': 2025.677, 'duration': 1.321}], 'summary': 'Blockchain program uses protocols and security features. it employs public and private key cryptography for transactions and operates through a p2p network.', 'duration': 51.625, 'max_score': 1975.373, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U1975373.jpg'}, {'end': 2191.899, 'src': 'embed', 'start': 2165.104, 'weight': 7, 'content': [{'end': 2169.265, 'text': "Since the central record is not there anymore, there's no proof with respect to that same.", 'start': 2165.104, 'duration': 4.161}, {'end': 2172.426, 'text': 'And this is where exactly a distributed ledger comes.', 'start': 2169.805, 'duration': 2.621}, {'end': 2177.908, 'text': "A distributed ledger ensures that everyone who's part of the cycle has a copy of the ledger,", 'start': 2172.846, 'duration': 5.062}, {'end': 2181.829, 'text': 'thereby ensuring that no fraud can happen or no changes with respect to that.', 'start': 2177.908, 'duration': 3.921}, {'end': 2187.958, 'text': 'Now even if Andy loses his record of the transaction details, he can take it from Bobby, Debbie, or Cindy.', 'start': 2182.236, 'duration': 5.722}, {'end': 2191.899, 'text': 'And if either of them try to make a change with respect to that always,', 'start': 2188.398, 'duration': 3.501}], 'summary': 'Distributed ledger ensures everyone has a copy, preventing fraud and changes.', 'duration': 26.795, 'max_score': 2165.104, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U2165104.jpg'}, {'end': 2308.465, 'src': 'embed', 'start': 2283.286, 'weight': 8, 'content': [{'end': 2291.613, 'text': "Now. a digital signature is a very important part of the transaction detail, because it ensures that the person who's sending the money is the real person,", 'start': 2283.286, 'duration': 8.327}, {'end': 2294.696, 'text': 'as well as the amount that is being transacted is the correct amount.', 'start': 2291.613, 'duration': 3.083}, {'end': 2298.279, 'text': 'So what happens is you merely take the public key of the sender,', 'start': 2295.156, 'duration': 3.123}, {'end': 2302.683, 'text': 'the public key of the receiver and as well as add the amount that has to get transmitted.', 'start': 2298.279, 'duration': 4.404}, {'end': 2308.465, 'text': "Once you take this, it's fed to a hash algorithm and then it gets encrypted by a private key,", 'start': 2303.363, 'duration': 5.102}], 'summary': "Digital signature ensures sender's authenticity and transaction accuracy by using public and private keys and hash algorithm.", 'duration': 25.179, 'max_score': 2283.286, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U2283286.jpg'}], 'start': 1724.056, 'title': 'Bitcoin mining and transactions', 'summary': 'Addresses challenges in bitcoin mining, such as increasing complexity and limited availability, as more miners join for incentives. it also explains the bitcoin transaction process, highlighting the role of blockchain, cryptography, p2p network, and digital signatures in ensuring transaction security.', 'chapters': [{'end': 1777.73, 'start': 1724.056, 'title': 'Challenges in bitcoin mining', 'summary': 'Discusses the increasing complexity of bitcoin mining due to more miners joining for incentives, emphasizing the limit of 21 million bitcoins and the difficulty in computing resources for mining.', 'duration': 53.674, 'highlights': ['The complexity of solving a block keeps growing day by day as more people are mining today compared to six or eight months back, mainly due to their attraction for incentives.', "The system's limit of 21 million bitcoins makes it difficult to compute resources and become a miner efficiently.", 'The chapter emphasizes the increasing complexity of Bitcoin mining due to more miners joining for incentives, and the limit of 21 million bitcoins.']}, {'end': 2337.545, 'start': 1777.73, 'title': 'Bitcoin transaction process', 'summary': 'Explains the process of initiating a bitcoin transaction, the role of blockchain and its key features, including cryptography and p2p network, the function of distributed ledger system, and the significance of digital signature in ensuring transaction security.', 'duration': 559.815, 'highlights': ['The process of initiating a Bitcoin transaction and its transmission across the Bitcoin network is explained, highlighting the avoidance of third-party mediators and transaction fees, contributing to the popularity of blockchain and Bitcoin network. Avoidance of third-party mediators and transaction fees, popularity of blockchain and Bitcoin network', 'The role of blockchain as the backbone of the Bitcoin system, its function as a publicly distributed database, and the continuous addition of verified and validated transactions to the blockchain, contributing to its perpetual growth. Role of blockchain, function as a publicly distributed database, continuous addition of verified and validated transactions', 'Explanation of the key features of blockchain, including cryptography, use of P2P network for consistency and security, and the presence of protocols and security features in the blockchain program. Key features of blockchain, including cryptography, use of P2P network, presence of protocols and security features', "Elaboration on the P2P network's function in verifying, validating, and propagating transactions, ensuring complete consistency and security through a majority consensus and the prevention of unauthorized modifications. P2P network's function, ensuring complete consistency and security, prevention of unauthorized modifications", 'The significance of distributed ledger system in preventing fraud and ensuring data integrity by providing multiple copies of the ledger to all participants in the network, thereby safeguarding against potential data corruption. Significance of distributed ledger system, prevention of fraud, safeguarding against potential data corruption', 'Clarification on the role of digital signatures in verifying the authenticity of the transaction, ensuring the identity of the sender, and validating the correct transaction amount, contributing to the overall security of Bitcoin transactions. Role of digital signatures, ensuring identity of the sender, validating the correct transaction amount']}], 'duration': 613.489, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U1724056.jpg', 'highlights': ['The complexity of solving a block keeps growing due to more miners joining for incentives.', "The system's limit of 21 million bitcoins makes it difficult to compute resources and become a miner efficiently.", 'The increasing complexity of Bitcoin mining due to more miners joining for incentives and the limit of 21 million bitcoins.', 'The process of initiating a Bitcoin transaction and its transmission across the Bitcoin network is explained, highlighting the avoidance of third-party mediators and transaction fees, contributing to the popularity of blockchain and Bitcoin network.', 'The role of blockchain as the backbone of the Bitcoin system, its function as a publicly distributed database, and the continuous addition of verified and validated transactions to the blockchain, contributing to its perpetual growth.', 'Explanation of the key features of blockchain, including cryptography, use of P2P network for consistency and security, and the presence of protocols and security features in the blockchain program.', "Elaboration on the P2P network's function in verifying, validating, and propagating transactions, ensuring complete consistency and security through a majority consensus and the prevention of unauthorized modifications.", 'The significance of distributed ledger system in preventing fraud and ensuring data integrity by providing multiple copies of the ledger to all participants in the network, thereby safeguarding against potential data corruption.', 'Clarification on the role of digital signatures in verifying the authenticity of the transaction, ensuring the identity of the sender, and validating the correct transaction amount, contributing to the overall security of Bitcoin transactions.']}, {'end': 3181.243, 'segs': [{'end': 2361.994, 'src': 'embed', 'start': 2337.965, 'weight': 0, 'content': [{'end': 2345.456, 'text': 'If it is same then it is understood that this is a valid transaction and this has not been modified as such while it is being propagated.', 'start': 2337.965, 'duration': 7.491}, {'end': 2352.443, 'text': 'So this in turn is another security feature that ensures that no transaction can be directly manipulated as well.', 'start': 2345.876, 'duration': 6.567}, {'end': 2357.108, 'text': 'Now apart from this another major key feature is the blockchain program.', 'start': 2353.004, 'duration': 4.104}, {'end': 2361.994, 'text': 'Now the blockchain program is not something that can only be implemented in the banking domain.', 'start': 2357.569, 'duration': 4.425}], 'summary': 'Blockchain ensures valid transactions; not limited to banking.', 'duration': 24.029, 'max_score': 2337.965, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U2337965.jpg'}, {'end': 2406.584, 'src': 'embed', 'start': 2379.154, 'weight': 1, 'content': [{'end': 2383.939, 'text': 'But right now, Solidity is the most preferred language for writing blockchain programs.', 'start': 2379.154, 'duration': 4.785}, {'end': 2386.54, 'text': 'Talking about the blockchain transactions.', 'start': 2384.58, 'duration': 1.96}, {'end': 2394.262, 'text': 'in any blockchain, every transaction that gets verified and validated in the process of creation of a new block is logged,', 'start': 2386.54, 'duration': 7.722}, {'end': 2399.823, 'text': 'along with the information of time, the participants, as well as the amount that gets transmitted across.', 'start': 2394.262, 'duration': 5.561}, {'end': 2406.584, 'text': "Each node of the network, that is each user who's part of the blockchain, holds the complete blockchain in itself.", 'start': 2400.363, 'duration': 6.221}], 'summary': 'Solidity is the most preferred language for writing blockchain programs. each blockchain transaction is logged with time, participants, and amount transmitted.', 'duration': 27.43, 'max_score': 2379.154, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U2379154.jpg'}, {'end': 2450.152, 'src': 'embed', 'start': 2421.788, 'weight': 2, 'content': [{'end': 2430.411, 'text': 'Talking more about the transactions involved in a blockchain, each transaction is verified by a miner after he solves a complex mathematical puzzle.', 'start': 2421.788, 'duration': 8.623}, {'end': 2435.833, 'text': 'And once he solves this and verifies the transaction, he maintains and updates the ledger as well.', 'start': 2430.771, 'duration': 5.062}, {'end': 2450.152, 'text': 'Now, the mathematical principle which is involved as part of the validation process ensures that every node which is part of the blockchain are automatically and continuously in sync with respect to the current state of the ledger and every transaction in it.', 'start': 2436.308, 'duration': 13.844}], 'summary': 'Blockchain transactions are verified by miners solving mathematical puzzles, ensuring nodes are continuously in sync.', 'duration': 28.364, 'max_score': 2421.788, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U2421788.jpg'}, {'end': 2561.258, 'src': 'embed', 'start': 2536.064, 'weight': 3, 'content': [{'end': 2542.146, 'text': 'But at the same time, private and consortium blockchains are created and managed with respect to their specific purposes.', 'start': 2536.064, 'duration': 6.082}, {'end': 2549.789, 'text': "You may not always be able to access a private or a consortium blockchain because they may be set to a specific user's requirement.", 'start': 2542.566, 'duration': 7.223}, {'end': 2555.734, 'text': 'However, there are certain private as well as consortium blockchain, which are accessible to the public.', 'start': 2550.27, 'duration': 5.464}, {'end': 2561.258, 'text': 'But again, this is something that the user has to do, that is the creator of the blockchain has to set accordingly.', 'start': 2556.014, 'duration': 5.244}], 'summary': 'Private and consortium blockchains are managed for specific purposes, some accessible to the public.', 'duration': 25.194, 'max_score': 2536.064, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U2536064.jpg'}, {'end': 2699.587, 'src': 'embed', 'start': 2668.421, 'weight': 4, 'content': [{'end': 2674.524, 'text': "Now let's move forward and look at some of the blockchain use cases and understand where exactly is blockchain being used,", 'start': 2668.421, 'duration': 6.103}, {'end': 2676.025, 'text': 'apart from the Bitcoin system.', 'start': 2674.524, 'duration': 1.501}, {'end': 2680.449, 'text': 'Now these are some of the most popular domains where blockchain at presently is being used.', 'start': 2676.505, 'duration': 3.944}, {'end': 2688.336, 'text': "Now we've talked about the banking domain, where blockchain is currently replacing the existing, as well as overtaking the current existing system,", 'start': 2680.689, 'duration': 7.647}, {'end': 2690.298, 'text': 'as well as the payment and transactional system.', 'start': 2688.336, 'duration': 1.962}, {'end': 2699.587, 'text': 'The bitcoin wallet system has grown so rapidly that it becomes quite easy for anyone to transfer their bitcoins or cryptocurrency across to other users,', 'start': 2690.518, 'duration': 9.069}], 'summary': 'Blockchain is being used in banking, payment, and transaction systems, with rapid growth in the bitcoin wallet system.', 'duration': 31.166, 'max_score': 2668.421, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U2668421.jpg'}, {'end': 2801.498, 'src': 'embed', 'start': 2779.785, 'weight': 7, 'content': [{'end': 2788.571, 'text': 'Internet of Things is another major domain that is currently using blockchain system to ensure the transfer of data between the devices without any corruptions,', 'start': 2779.785, 'duration': 8.786}, {'end': 2791.152, 'text': 'as well as without any interference as such.', 'start': 2788.571, 'duration': 2.581}, {'end': 2795.855, 'text': 'Online music market is something that is rapidly growing to the blockchain system as well.', 'start': 2791.592, 'duration': 4.263}, {'end': 2801.498, 'text': 'Here. what is happening is that the music domain is completely changing and putting up its music on the blockchain,', 'start': 2796.395, 'duration': 5.103}], 'summary': 'Blockchain is being used in iot for secure data transfer and in the growing online music market.', 'duration': 21.713, 'max_score': 2779.785, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U2779785.jpg'}, {'end': 2861.325, 'src': 'embed', 'start': 2834.336, 'weight': 5, 'content': [{'end': 2840.419, 'text': 'Now, this $20 billion is something that these middlemen organizations earn with respect to a year.', 'start': 2834.336, 'duration': 6.083}, {'end': 2845.521, 'text': 'Yes, although it does increase a chance of reduce of job with respect to these domains.', 'start': 2840.939, 'duration': 4.582}, {'end': 2850.104, 'text': 'but at the same time, imagine what could happen if banks themselves would implement blockchain.', 'start': 2845.521, 'duration': 4.583}, {'end': 2852.605, 'text': "And that's exactly what they are being doing these days.", 'start': 2850.404, 'duration': 2.201}, {'end': 2854.219, 'text': 'And apart from that,', 'start': 2853.038, 'duration': 1.181}, {'end': 2861.325, 'text': 'the opportunity of hacking into the bank ledgers and making changes with respect to that same is becoming highly impossible as well for the people.', 'start': 2854.219, 'duration': 7.106}], 'summary': 'Middlemen earn $20 billion yearly, but blockchain can reduce job risk and hacking opportunity for banks.', 'duration': 26.989, 'max_score': 2834.336, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U2834336.jpg'}, {'end': 3109.199, 'src': 'embed', 'start': 3086.278, 'weight': 6, 'content': [{'end': 3093.944, 'text': 'Apart from these domains, election and voting domain is one domain that is expected to change completely with the involvement of blockchain.', 'start': 3086.278, 'duration': 7.666}, {'end': 3100.909, 'text': "Using the blockchain, you can always authenticate the identity of everyone who's voting using their signature,", 'start': 3094.662, 'duration': 6.247}, {'end': 3102.932, 'text': 'as well as secure their personal information.', 'start': 3100.909, 'duration': 2.023}, {'end': 3109.199, 'text': 'Now. this ensures that we are not quite sure who exactly has voted for which party, but at the same time,', 'start': 3103.272, 'duration': 5.927}], 'summary': 'Blockchain revolutionizing election and voting domain, ensuring secure authentication and anonymity.', 'duration': 22.921, 'max_score': 3086.278, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U3086278.jpg'}], 'start': 2337.965, 'title': "Blockchain's impact on security and various domains", 'summary': 'Discusses the security features of blockchain, its implementation across multiple domains, the process of blockchain transactions, types of blockchains, and various use cases, including in banking, healthcare, and law enforcement. additionally, it explores the transformative impact of blockchain on domains such as election and voting, banking, real estate, digital music, and internet of things, highlighting potential cost savings of $20 billion in the banking domain, increased security, transparency, and its potential to revolutionize the election and voting process.', 'chapters': [{'end': 2761.385, 'start': 2337.965, 'title': 'Blockchain security and applications', 'summary': 'Discusses the security features of blockchain, its implementation across multiple domains, the process of blockchain transactions, types of blockchains, and various use cases, including in banking, healthcare, and law enforcement.', 'duration': 423.42, 'highlights': ['Blockchain ensures the security of transactions and prevents direct manipulation, providing new generation solutions and overcoming challenges faced by previous applications. Blockchain ensures the security of transactions and prevents direct manipulation, providing new generation solutions and overcoming challenges faced by previous applications.', 'Solidity is the most preferred language for writing blockchain programs, and each blockchain transaction is logged with information about time, participants, and transmitted amount. Solidity is the most preferred language for writing blockchain programs, and each blockchain transaction is logged with information about time, participants, and transmitted amount.', 'Every node in the blockchain network holds a complete copy of the blockchain, and transactions are verified by miners after solving complex mathematical puzzles, maintaining and updating the ledger. Every node in the blockchain network holds a complete copy of the blockchain, and transactions are verified by miners after solving complex mathematical puzzles, maintaining and updating the ledger.', 'Blockchain types include public, private, and consortium, with public blockchains allowing anyone in the world to be part of, and private blockchains being quite restricted. Blockchain types include public, private, and consortium, with public blockchains allowing anyone in the world to be part of, and private blockchains being quite restricted.', 'Blockchain is being used in various domains such as banking, healthcare, and law enforcement to replace existing systems, enable rapid and secure transactions, store patient details, and create accessible databases for criminal records. Blockchain is being used in various domains such as banking, healthcare, and law enforcement to replace existing systems, enable rapid and secure transactions, store patient details, and create accessible databases for criminal records.']}, {'end': 3181.243, 'start': 2761.405, 'title': "Blockchain's impact on various domains", 'summary': 'Discusses the transformative impact of blockchain on domains such as election and voting, banking, real estate, digital music, and internet of things, highlighting potential cost savings of $20 billion in the banking domain, the increased security and transparency provided by blockchain, and its potential to revolutionize the election and voting process.', 'duration': 419.838, 'highlights': ["Blockchain's potential to save $20 billion in the banking domain, while increasing security and reducing the possibility of hacking into bank ledgers, provides significant value. Potential cost savings of $20 billion in the banking domain, increased security, reduced possibility of hacking into bank ledgers.", "The transformative impact of blockchain on the election and voting domain, including authentication of voters' identity, securing personal information, and preventing vote frauds, is highlighted. Authentication of voters' identity, securing personal information, preventing vote frauds, and ensuring the loss of record does not take place.", "Blockchain's influence on digital music market, real estate, and internet of things, ensuring secure data transfer and revolutionizing the transfer of digital assets, is emphasized. Secure data transfer, revolutionizing the transfer of digital assets in the digital music market, real estate, and internet of things."]}], 'duration': 843.278, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U2337965.jpg', 'highlights': ['Blockchain ensures security of transactions, prevents direct manipulation, and overcomes challenges faced by previous applications.', 'Solidity is the most preferred language for writing blockchain programs, and each transaction is logged with time, participants, and transmitted amount.', 'Every node in the blockchain network holds a complete copy of the blockchain, and transactions are verified by miners after solving complex mathematical puzzles.', 'Blockchain types include public, private, and consortium, with public blockchains allowing anyone to be part of and private blockchains being quite restricted.', 'Blockchain is being used in various domains such as banking, healthcare, and law enforcement to replace existing systems and enable rapid and secure transactions.', "Blockchain's potential to save $20 billion in the banking domain, while increasing security and reducing the possibility of hacking into bank ledgers, provides significant value.", "The transformative impact of blockchain on the election and voting domain, including authentication of voters' identity, securing personal information, and preventing vote frauds, is highlighted.", "Blockchain's influence on digital music market, real estate, and internet of things, ensuring secure data transfer and revolutionizing the transfer of digital assets, is emphasized."]}, {'end': 3771.767, 'segs': [{'end': 3204.338, 'src': 'embed', 'start': 3181.663, 'weight': 0, 'content': [{'end': 3191.574, 'text': 'They presently are trying to change the upcoming election ideas and trying to implement the online blockchain voting system by maybe the next or next next elections as well.', 'start': 3181.663, 'duration': 9.911}, {'end': 3194.195, 'text': "So hopefully let's keep our fingers crossed,", 'start': 3192.094, 'duration': 2.101}, {'end': 3201.297, 'text': 'because I would definitely like to be part of a blockchain system that takes my vote and helps me support my party as well.', 'start': 3194.195, 'duration': 7.102}, {'end': 3204.338, 'text': 'Now these are just some of the most popular domains.', 'start': 3201.997, 'duration': 2.341}], 'summary': 'Efforts to implement online blockchain voting system for upcoming elections, aiming for next or next next elections.', 'duration': 22.675, 'max_score': 3181.663, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U3181663.jpg'}, {'end': 3242.98, 'src': 'embed', 'start': 3219.1, 'weight': 2, 'content': [{'end': 3226.045, 'text': 'Now, this basically is a cross-industry collaborative effort from the Linux Foundation to support the blockchain distributed ledger system.', 'start': 3219.1, 'duration': 6.945}, {'end': 3234.532, 'text': 'Apart from that, organizations like JPMorgan and IBM are investing a lot of resource to build a public blockchain and increase the awareness,', 'start': 3226.466, 'duration': 8.066}, {'end': 3237.715, 'text': 'at the same time making a profit out of it at the same time.', 'start': 3234.532, 'duration': 3.183}, {'end': 3242.98, 'text': 'So again, blockchain is not something that is restricted only to the banking domain.', 'start': 3238.155, 'duration': 4.825}], 'summary': 'Linux foundation supports blockchain; jpmorgan, ibm invest in public blockchain for profit and awareness.', 'duration': 23.88, 'max_score': 3219.1, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U3219100.jpg'}, {'end': 3285.609, 'src': 'embed', 'start': 3259.039, 'weight': 1, 'content': [{'end': 3265.58, 'text': 'Ethereum basically is an online open source publicly distributed blockchain system to which anyone can be a part of.', 'start': 3259.039, 'duration': 6.541}, {'end': 3268.161, 'text': "It's similar to your Bitcoin system itself.", 'start': 3265.961, 'duration': 2.2}, {'end': 3276.623, 'text': "Now what we need to achieve as part of today's demo is that we need to implement a digital bank which actually implements the Ethereum blockchain.", 'start': 3268.721, 'duration': 7.902}, {'end': 3279.464, 'text': 'Now this system has to allow us to do three things.', 'start': 3276.963, 'duration': 2.501}, {'end': 3285.609, 'text': 'First is make cryptocurrency with a fixed market supply and token that represents real world value.', 'start': 3279.964, 'duration': 5.645}], 'summary': 'Ethereum is a publicly distributed blockchain for implementing a digital bank to make cryptocurrency with a fixed market supply and token representing real-world value.', 'duration': 26.57, 'max_score': 3259.039, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U3259039.jpg'}, {'end': 3517.364, 'src': 'embed', 'start': 3491.724, 'weight': 3, 'content': [{'end': 3497.568, 'text': 'you can be directed to the official download page for Go language and you can choose whichever package meets your requirement.', 'start': 3491.724, 'duration': 5.844}, {'end': 3503.592, 'text': "If it's OSX, if it's Ubuntu, if it is Windows, you can choose correspondingly and install Go lang.", 'start': 3497.808, 'duration': 5.784}, {'end': 3508.056, 'text': 'Now, since I am using a 32-bit Ubuntu version, I have downloaded this packet.', 'start': 3503.972, 'duration': 4.084}, {'end': 3511.419, 'text': "Now, it's time for me to extract and install it as part of my system.", 'start': 3508.436, 'duration': 2.983}, {'end': 3514.382, 'text': 'To do that, let me just open a new terminal.', 'start': 3512.56, 'duration': 1.822}, {'end': 3517.364, 'text': "Let's maximize this as well.", 'start': 3516.103, 'duration': 1.261}], 'summary': 'Download and install go language based on system requirements, 32-bit ubuntu version used for demonstration.', 'duration': 25.64, 'max_score': 3491.724, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U3491724.jpg'}, {'end': 3597.912, 'src': 'embed', 'start': 3563.453, 'weight': 4, 'content': [{'end': 3569.536, 'text': "But before that, always ensure you're using the sudo command to execute this, because this requires administrative privileges.", 'start': 3563.453, 'duration': 6.083}, {'end': 3578.021, 'text': 'Now as you can see the Go language is getting extracted and installed onto my system, and it has successfully extracted it.', 'start': 3572.618, 'duration': 5.403}, {'end': 3583.604, 'text': 'Now what I need to do is that I need to move it to a specific location, that is my slash user slash local.', 'start': 3578.381, 'duration': 5.223}, {'end': 3587.326, 'text': 'This is mainly to ensure that I have ease of access to this language whenever I need it.', 'start': 3583.984, 'duration': 3.342}, {'end': 3597.912, 'text': 'So for this you can use the following command that is sudo move go, that is the folder to which it has been extracted to, to user slash local.', 'start': 3588.749, 'duration': 9.163}], 'summary': 'Go language extracted and installed using sudo command, then moved to /user/local for easy access.', 'duration': 34.459, 'max_score': 3563.453, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U3563453.jpg'}], 'start': 3181.663, 'title': 'Implementing blockchain voting system and installing go language', 'summary': 'Discusses the implementation of an online blockchain voting system for upcoming elections and the installation of go language on ubuntu, covering setting up environment variables, executing make all command, and successful installation of golang.', 'chapters': [{'end': 3465.626, 'start': 3181.663, 'title': 'Blockchain voting system implementation', 'summary': 'Discusses the implementation of an online blockchain voting system for upcoming elections, the growing investment and usage of blockchain technology in various domains, and provides a detailed demonstration of creating a digital bank using ethereum blockchain.', 'duration': 283.963, 'highlights': ['The implementation of an online blockchain voting system for upcoming elections is being pursued, with the goal of making voting more secure and efficient. The chapter discusses the intention to implement the online blockchain voting system by the next or subsequent elections, aiming to improve the security and efficiency of the voting process.', 'Blockchain technology is gaining traction in various domains, with organizations like JPMorgan and IBM investing resources to build public blockchains. The transcript highlights the increasing investment in blockchain technology by organizations such as JPMorgan and IBM to build public blockchains, indicating the growing adoption of blockchain across different domains.', 'A detailed demonstration is provided for creating a digital bank using the Ethereum blockchain, focusing on cryptocurrency creation, private blockchain autonomy, and transaction validation. The chapter includes a detailed demonstration of creating a digital bank using the Ethereum blockchain, covering aspects such as creating cryptocurrency with a fixed market supply, establishing a private autonomous blockchain, and validating transactions.']}, {'end': 3771.767, 'start': 3471.974, 'title': 'Installing go language and executing make all command', 'summary': 'Covers the installation of go language on ubuntu, including downloading, extracting, setting up environment variables, and executing the make all command for goethereum, ultimately resulting in a successful installation of golang.', 'duration': 299.793, 'highlights': ['The chapter covers the installation of Go language on Ubuntu, including downloading, extracting, setting up environment variables, and executing the make all command for GoEthereum, ultimately resulting in a successful installation of golang.', 'The process includes downloading the Go language package from the official website, extracting and installing it using specific commands, setting up environment variables such as go root, go path, and path, and finally executing the make all command for GoEthereum.', 'The installation process requires using specific commands like sudo tar minus xbf to extract and install the Go language package, moving the extracted folder to a specific location using sudo move command, and adding environment variables to the bashrc file to ensure successful installation.', 'The speaker emphasizes the importance of using sudo commands for administrative privileges during the installation process, and recommends opening a new terminal if existing terminals do not accept the updated values, ultimately ensuring the successful installation of golang.']}], 'duration': 590.104, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U3181663.jpg', 'highlights': ['The chapter discusses the intention to implement the online blockchain voting system by the next or subsequent elections, aiming to improve the security and efficiency of the voting process.', 'The chapter includes a detailed demonstration of creating a digital bank using the Ethereum blockchain, covering aspects such as creating cryptocurrency with a fixed market supply, establishing a private autonomous blockchain, and validating transactions.', 'Blockchain technology is gaining traction in various domains, with organizations like JPMorgan and IBM investing resources to build public blockchains, indicating the growing adoption of blockchain across different domains.', 'The process includes downloading the Go language package from the official website, extracting and installing it using specific commands, setting up environment variables such as go root, go path, and path, and finally executing the make all command for GoEthereum.', 'The installation process requires using specific commands like sudo tar minus xbf to extract and install the Go language package, moving the extracted folder to a specific location using sudo move command, and adding environment variables to the bashrc file to ensure successful installation.']}, {'end': 4596.641, 'segs': [{'end': 3843.098, 'src': 'embed', 'start': 3815.124, 'weight': 0, 'content': [{'end': 3820.307, 'text': 'And here you need to create a new JSON file which has all the details of the Genesis block.', 'start': 3815.124, 'duration': 5.183}, {'end': 3827.891, 'text': "So for that, use the command, get it, Genesis, and I'll just name it Genesis3.json.", 'start': 3820.407, 'duration': 7.484}, {'end': 3830.432, 'text': "And let's add the code.", 'start': 3829.311, 'duration': 1.121}, {'end': 3835.029, 'text': "Now, what has to be present in the Genesis block? Let's discuss about that.", 'start': 3831.325, 'duration': 3.704}, {'end': 3839.414, 'text': 'Now, in a Genesis block, you define the different rules for our blockchain.', 'start': 3835.39, 'duration': 4.024}, {'end': 3843.098, 'text': 'So for that, what you have to do is you need to understand this code.', 'start': 3840.175, 'duration': 2.923}], 'summary': 'Create a new genesis block json file with defined blockchain rules.', 'duration': 27.974, 'max_score': 3815.124, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U3815124.jpg'}, {'end': 3988.618, 'src': 'embed', 'start': 3942.48, 'weight': 1, 'content': [{'end': 3945.482, 'text': 'The value of nonce is something that you get by trial and error method.', 'start': 3942.48, 'duration': 3.002}, {'end': 3955.115, 'text': 'Now it was believed that in the year 2014, the value for nonce had to be tried between 1.4 till 15 quadrillion values.', 'start': 3946.488, 'duration': 8.627}, {'end': 3957.417, 'text': 'So you can understand how much effort it takes.', 'start': 3955.495, 'duration': 1.922}, {'end': 3965.444, 'text': 'This is exactly why I said one block cannot be completely solved by a single user and requires a lot of computational power by a user.', 'start': 3957.737, 'duration': 7.707}, {'end': 3972.169, 'text': "And this is why in today's world, most miners come together to form a pool where the work gets distributed among them.", 'start': 3966.064, 'duration': 6.105}, {'end': 3973.91, 'text': 'They try out different values accordingly.', 'start': 3972.289, 'duration': 1.621}, {'end': 3978.353, 'text': 'And once the block gets solved, the incentive gets distributed among the people involved.', 'start': 3974.29, 'duration': 4.063}, {'end': 3984.458, 'text': 'So I hope this has also given you an idea as to what is the role of a miner as such.', 'start': 3979.394, 'duration': 5.064}, {'end': 3988.618, 'text': "Okay, so two things that we're left out with is gas limit.", 'start': 3985.836, 'duration': 2.782}], 'summary': 'In 2014, nonce required trying 1.4-15 quadrillion values, necessitating miners to form pools for distributed work and incentive sharing.', 'duration': 46.138, 'max_score': 3942.48, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U3942480.jpg'}, {'end': 4190.488, 'src': 'embed', 'start': 4133.169, 'weight': 4, 'content': [{'end': 4138.93, 'text': 'Now this creates a new account as part of your blockchain which has a specific wallet attached to it.', 'start': 4133.169, 'duration': 5.761}, {'end': 4144.573, 'text': 'So every time that the blockchain mining happens, the wallet gets updated with respect to the ether value.', 'start': 4139.331, 'duration': 5.242}, {'end': 4151.055, 'text': 'Apart from that, the next command is eth.accounts which will help you check the various accounts which are part of the blockchain.', 'start': 4144.993, 'duration': 6.062}, {'end': 4153.215, 'text': 'Then you have eth.blocknumber.', 'start': 4151.495, 'duration': 1.72}, {'end': 4157.796, 'text': 'Now this helps you identify the total number of blocks which are part of your present blockchain.', 'start': 4153.496, 'duration': 4.3}, {'end': 4165.072, 'text': 'Then you have miner.start, this starts the mining operation and to stop the mining operation you can use the command miner.stop.', 'start': 4158.809, 'duration': 6.263}, {'end': 4171.856, 'text': 'Finally, you have eth.blocknumber, which tells you at which block you are after performing the mining operation.', 'start': 4165.752, 'duration': 6.104}, {'end': 4178.399, 'text': 'and finally, the command that is eth.getbalance will help you identify what is the balance in a specific account.', 'start': 4171.856, 'duration': 6.543}, {'end': 4182.263, 'text': 'Now this is basically the account details that we had seen earlier.', 'start': 4178.92, 'duration': 3.343}, {'end': 4185.965, 'text': 'It is a hash value and you get it as soon as you create an account.', 'start': 4182.423, 'duration': 3.542}, {'end': 4190.488, 'text': "So now let's go back to our console and begin by executing each of these commands one by one.", 'start': 4186.345, 'duration': 4.143}], 'summary': 'Using ethereum blockchain: new account with wallet, mining, block number, balance.', 'duration': 57.319, 'max_score': 4133.169, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U4133169.jpg'}, {'end': 4336.807, 'src': 'embed', 'start': 4309.137, 'weight': 3, 'content': [{'end': 4312.198, 'text': "So let me run this operation for the next 10 minutes and let's see how it goes.", 'start': 4309.137, 'duration': 3.061}, {'end': 4324.12, 'text': 'Okay, so now we have run our mining operation for 10 minutes, let me just stop this.', 'start': 4320.519, 'duration': 3.601}, {'end': 4327.241, 'text': "So for that, we're gonna use the command, miner.stop.", 'start': 4324.44, 'duration': 2.801}, {'end': 4333.082, 'text': 'And once you execute it, if you get true, that means the mining operation has stopped.', 'start': 4329.001, 'duration': 4.081}, {'end': 4336.807, 'text': "Now let's see which block we are presently in.", 'start': 4334.406, 'duration': 2.401}], 'summary': 'Ran mining operation for 10 minutes, stopped successfully, checking current block.', 'duration': 27.67, 'max_score': 4309.137, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U4309137.jpg'}], 'start': 3774.676, 'title': 'Creating and initializing blockchain genesis block', 'summary': 'Covers the process of creating a genesis block for a blockchain, defining its components, and the effort involved in mining a block, as well as the initialization of a blockchain, including creating accounts, mining operations, and checking account balances, resulting in 41 blocks mined in 10 minutes.', 'chapters': [{'end': 4006.993, 'start': 3774.676, 'title': 'Creating genesis block for blockchain', 'summary': 'Covers the process of creating a genesis block for a blockchain, including defining its components such as timestamp, difficulty, coinbase, parent hash, nonce, mixed hash, and gas limit, and the effort involved in mining a block, requiring trial and error of billions of values.', 'duration': 232.317, 'highlights': ['The process of creating a Genesis block for a blockchain is explained, including defining its components such as timestamp, difficulty, Coinbase, parent hash, nonce, mixed hash, and gas limit. The chapter thoroughly explains the process of creating a Genesis block for a blockchain, detailing the components involved such as timestamp, difficulty, Coinbase, parent hash, nonce, mixed hash, and gas limit.', 'The effort involved in mining a block, requiring trial and error of billions of values, is emphasized. It is emphasized that mining a block involves significant effort, as in 2014, the value for nonce had to be tried between 1.4 till 15 quadrillion values, illustrating the extensive trial and error process.', 'The role of miners in collaborating and forming pools to distribute the computational work and the incentive distribution upon solving a block is explained. The chapter explains the collaborative nature of mining, where miners come together to form a pool to distribute the computational work, and upon solving a block, the incentive gets distributed among the people involved.']}, {'end': 4596.641, 'start': 4007.294, 'title': 'Blockchain genesis block initialization', 'summary': 'Covers the initialization of a blockchain, including creating accounts, mining operations, and checking account balances, with specific commands and quantifiable data, resulting in 41 blocks mined in 10 minutes.', 'duration': 589.347, 'highlights': ["The command 'miner.start' is used to initiate the mining operation, resulting in the mining of 41 blocks in just 10 minutes.", "Executing the command 'eth.getBalance' allows users to check the balance of a specific account, with the first account having a certain specific value and the latest account showing a balance of zero.", "The command 'eth.blocknumber' is used to identify the total number of blocks in the present blockchain, with the speaker being at block 3367 after mining 41 blocks in 10 minutes.", "The chapter includes instructions for creating new accounts using the 'personal.newaccounts' command and checking the various accounts using the 'eth.accounts' command."]}], 'duration': 821.965, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/jKYhLpHJv8U/pics/jKYhLpHJv8U3774676.jpg', 'highlights': ['The process of creating a Genesis block for a blockchain is explained, including defining its components such as timestamp, difficulty, Coinbase, parent hash, nonce, mixed hash, and gas limit.', 'The effort involved in mining a block, requiring trial and error of billions of values, is emphasized.', 'The role of miners in collaborating and forming pools to distribute the computational work and the incentive distribution upon solving a block is explained.', "The command 'miner.start' is used to initiate the mining operation, resulting in the mining of 41 blocks in just 10 minutes.", "Executing the command 'eth.getBalance' allows users to check the balance of a specific account, with the first account having a certain specific value and the latest account showing a balance of zero.", "The command 'eth.blocknumber' is used to identify the total number of blocks in the present blockchain, with the speaker being at block 3367 after mining 41 blocks in 10 minutes.", "The chapter includes instructions for creating new accounts using the 'personal.newaccounts' command and checking the various accounts using the 'eth.accounts' command."]}], 'highlights': ["Blockchain and Bitcoin are trending keywords in today's technology, generating high interest even among those unfamiliar with cryptocurrency.", 'Blockchain is replacing the current transaction management system, addressing certain problems in the existing systems.', "The transformative impact of blockchain on the election and voting domain, including authentication of voters' identity, securing personal information, and preventing vote frauds, is highlighted.", "Blockchain's potential to save $20 billion in the banking domain, while increasing security and reducing the possibility of hacking into bank ledgers, provides significant value.", 'Blockchain ensures security of transactions, prevents direct manipulation, and overcomes challenges faced by previous applications.', 'The process of initiating a Bitcoin transaction and its transmission across the Bitcoin network is explained, highlighting the avoidance of third-party mediators and transaction fees, contributing to the popularity of blockchain and Bitcoin network.', 'Blockchain is being used in various domains such as banking, healthcare, and law enforcement to replace existing systems and enable rapid and secure transactions.', "The session agenda includes discussions on Bitcoin's role in solving transaction issues, various blockchain concepts and features, and a banking use case demo to create an alternative and improved banking system.", 'The process of creating a Genesis block for a blockchain is explained, including defining its components such as timestamp, difficulty, Coinbase, parent hash, nonce, mixed hash, and gas limit.', 'The challenge of double spending in digital transactions is explained, emphasizing its relevance in online payment transactions.']}