- Two types of Blockchain
- Permission less Blockchain
- Example: BTC,ETH
- They cannot run without crypto currencies.
- Permission Blockchain
- Example: Centralized
- They can run without crypto currencies.
- Quantum computers are expensive to make and maintain as well.
- Bitcoin halving reduces the reward the miner gets after verifying the bitcoin transaction.
- It happens after every 4 years
- The miner gets a gas fee and BTC combined as a reward to verify the BTC transaction and add a new block to the bitcoin blockchain.
- DAO stands for Decentralized Autonomous Organization
- It is open source
- The first block of the blockchain is the Genesis Block.
- NFT stands for Non-Fungible Tokens.
- ERC-20 helps us launch new fungible tokens.
- ERC-721 supports only NFT.
- It allows only one operation at a time
- It allows only one NFT to be launched at a time.
- ERC-1155 supports both NFT and fungible tokens as well.
- It is an upgraded version of the ERC-721.
- It allows multiple NFTs to be launched together.
- It allows multiple operations at a time.
- EIP stands for Ethereum Improvement Proposal.
- EIP 1559
- It introduced a base fee for the transaction and developed a feature called Miner Tip.
- Base fee will be burned in this.
- It will differ according to the transaction and traffic on the blockchain.
- The block size increased from12.5 million to 25 million.
- Lightning Network is made up on Bitcoin Blockchain to solve the problem of scalability.
- It is on Layer 2.
- It is extremely fast.
- The Cryptographic hash function doesn’t has inverse function.
- It means we cannot find input from the output given when input is considered in the function.
- Output is unique for every value.