#60daysofBlockchain - Day 3 & 4 - Back to Basics

Basically what I have understood so far is that most of the internet-based applications utilize a centralized database which runs a backend service to respond to requests coming from a front-end (which is a browser or a mobile app). The websites which host a back-end database and logic to process the data and requests are owned and managed by the organizations. The front-end users understand the functions that can be performed on the website and but don't store their data themselves unless there is a provision to maintain a copy of their own data. There are various different models available. However, this a very simple concept and widespread understanding.

So what is different about Blockchain. It is about treating various participants of a business model as a node and the fact that they can have their own copy of data. When a new data item is created it is sent for consensus and updates to the blockchain. Since the inception of Blockchain and different frameworks, there have been various mechanisms to perform consensus and it is still evolving. However, in any business solution, that will use Blockchain it will have a front-end, a mechanism to agree on the legitimacy of data capture (which is called Ethereum/smart contract and HyperLedger/chain-code) and finally a data storage mechanism (either in the devices directly or secure cloud buckets that are accessible only to the participant nodes). As a concept, it is still the same architecture. The difference is only on how data validation and data storage is being managed in the apps are changing.

So far, my understanding is still evolving. Satoshi Nakamoto's paper on decentralized electronic-cash, challenged the way centralized organizations were acting as the sole guardian of transactions history with participants of the transactions left to maintain their own ledgers for their own reconciliation. The usage of cryptographic puzzle and nodes to mutually reach their transaction consensus was a very interesting concept and led to a lot of crypto-currencies. Bitcoin introduced the concept of miners who would compete to solve the crypto-puzzles and mine block of transactions. All of that takes you to a different virtual world. While Blockchain came into being, for the development of crypto-currencies. My quest is to explore the usage of this technology for businesses. Business problems will never always require decentralized ledger applications. Some may need certain situations when crypto-currencies may also be required for a problem. But most of the problems would rather need to have consensus mechanisms and shared data concepts so that there is efficiency in terms of business decision making and reduced efforts to manage disputes or disagreements which are normal in any business environment. My quest is to explore these scenarios while I am also exploring how to build a solution using Blockchain.

Bottomline -

• There is more to Blockchain than crypto-currencies. Also, most of the current days' frameworks have evolved a lot from what was proposed in Satoshi's white paper.
• Business, in most cases, would use a solution that employs blockchain for certain problems or centralized apps for other problems. It may not be either/or.

I got the Ethereum Development environment working on Friday night - but I am resisting my urge to start writing code and get straight into smart contract coding. The readings about bitcoin and Satoshi's white paper still make me spend some more time on a few concepts.

My next few days will focus on the following:

1. Discrete Mathematics - I have found a good course on Udemy by Miran Fattah, however, this is 13hrs of material. Over the weekend, I am able to finish half of that. So I will continue with this course. This has provided a very good refresher for the concepts required for Cryptography.
2. Cryptography - I am too intrigued to get to the crux of how cryptography is making blockchains so special. But before even that I need to understand cryptography first. So I have signed up for a free course at Coursera by Stanford university - Cryptography 1. Hopefully, I will be able to confirm if this course will help me understand more about the cryptography which can then help me understand further on the applications of cryptography on blockchain. I also found two more links that seem to be interesting -

# Dan Boneh's CS255 materials - https://crypto.stanford.edu/~dabo/cs255/syllabus.html

# https://www.staff.science.uu.nl/~tel00101/liter/Books/CrypCont.pdf

I will go through them in next few days.

3. Finally, to be really confident at web-based solutions, I am also feeling the urge to understand full-stack web-development. I will also be going through another Udemy course for this purpose which is The Complete 2019 Web Development Bootcamp by Angela Yu. Hopefully, this slight detour wouldn't affect my overall plan and I will be able to get back to my plan to learn about Ethereum very soon. I definitely need this for filling the gaps in my understanding. But all those web developers out there, you will be happily skipping this step.

Signing off, now as the first weekend is over.

Thanks a lot for reading my journals. I will really appreciate the comments and feedback. Please feel free to write in your comments.