Blockchain Technology Stack

The Complete Blockchain Professional Course Blockchain Technology Stack and Ecosystem
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Transcript

Hey everyone, welcome back to the course. In the last few lectures, we talked about the architecture of blockchain. And we also saw how you can define the architecture and blockchain solutions. Whenever we are defining the architecture of blockchain, we need to consider the technology stack for the blockchain. In this lecture, we are going to talk about the blockchain technology stack and how you can define your technology stack for the problem statement at hand. We are showcasing an overview of the blockchain technology stack in this diagram.

This diagram is following a bottom up approach. As you can see in the diagram, the bottom layer is the first layer, which is also the core blockchain layer. This layer is mostly kept as open source, most blockchain Build the core layers using the C c++ programming languages, which are accessible for everyone and help add more features on top of it. This layer defines all the core functionalities of blockchain like transactions, blocks, cryptography, hashing algorithms, and mining techniques. Above this layer, we have overlay network layer. overlay networks are the host functionalities which cannot run solely by themselves.

They require an underlying technology such as blockchain, to provide the core environment to run. overlay networks provide additional features apart from the core blockchain functionalities. Inside the overlay networks, we have smart contracts which are used to create Mirror of a legal agreement between two parties as code and deployed over the blockchain. We also have the storage functionalities, which are used to store the large data in secure storage and avoid making the blockchain large. Apart from smart contracts and storage, we also use side chains as part of the overlay networks, which help us in interlinking, multiple chains and segregate the functionalities from the core blockchain. After overlay networks, the next layer is the decentralized protocols.

The decentralized protocols, make sure that we don't have a single entity controlling the whole system. The decentralized protocols can be further divided as per the functionalities required by us in over blockchain. We can have certificate management or verification protocols as part of the decentralized protocols. Moreover, decentralized protocols also help us in establishing communication between different nodes, which in turn, forms the peer to peer network. On top of decentralized protocols, we have support systems required for the blockchain. support systems are needed for developers and users to interact with the blockchain.

We mostly keep the API's for both open source and commercial projects. As part of our support system. Most blockchain system API's are available in JSON format, which can be utilized effectively with the front end applications. Finally, we have a user interface which hosts application available To the users to interact with the blockchain. This is a basic overview of the technical stack. Now let's learn about each layer and understand what each layer is doing and how you can define your technology stack for your own blockchain project.

The first layer is the blockchain layer. This layer is the base of all blockchain based applications. It is like a network spread across the world, which runs cryptographic protocols and algorithms to verify and commit transactions in an immutable fashion. This is a decentralized network where we don't have a central server or repository, controlling the system. People are connected to each other. Moreover, people don't need to trust third parties to see Secure the data, people only need to put their trust into the open source cryptographic algorithms.

This layer could be represented as public, private, or consortium as we have already discussed in the previous lectures. The current blockchain core solutions also provide identity management and certificate authorities for maintaining the track and ownership. On top of the blockchain. Identity Management is necessary for enterprises and governments to track users and participants. The second layer is the overlay networks. overlay networks achieve additional functionality over the blockchain, but without bootstrapping the original protocols, overlay networks will work on top of the block They don't have their route processes, protocols and algorithms to stand alone.

Overlay networks mostly provide additional functionalities, which are not already present in the blockchain. They benefit from the network effects and are built over the blockchain network. Some of the key features, which are part of overlay networks are smart contracts, which are an immutable agreement between two parties mirroring over legal contracts. storage services are also part of overlay networks, which can be used to store extensive data of the chain or may employ participants renting out their additional harddrive storage for the storage of files or data off the blockchain. side chains are also available under overlay net books where we can create and transfer tokens from one blockchain to a different blockchain. The third layer is decentralized protocols.

This is an essential part of the blockchain technology stack. It makes sure that the blockchain is not dependent on a central authority or a single entity for the validation and verification of the transaction. It helps us to create a complete distributed peer to peer database, which is linked and synchronized across all the participants. decentralized protocols can include asset mapping, social identities, verification algorithms for communication channels, and also the specific type of handshaking algorithms which are required between the computer nodes for data synchronization processes. The fourth layer in the blockchain technology stack is the support system. The support systems are the services required to interact with the underlying blockchain technologies, or smart contracts.

Even the storage services connected with blockchain can employ API's for interaction capabilities, we can directly build a solution with the existing API's, which are present with the platform's without depending and working upon over Ledger's. Most of the platforms offer various API's and software development kits for interacting with the blockchain. Most of the API's work with JSON format, which we can readily employ with front end applications. And showcase to the users. Users can use API's and see how they can perform operations over the blockchain. We can use open source API's from Bitcoin and aetherium blockchains.

Or we can also choose from commercial API's, such as bidco, or block cipher. These provide multiple out of the box functionalities, which are not even available on the public platforms. API's are built with box top structures and we don't need to create a structure around them. We only need to call them in functions within our programming frameworks. The fifth layer for blockchain technology stack is the user interface. Once we have defined all the API's required for the blockchain, we require a user interface for users to interact with the blockchain.

The user interface can be built with the existing front end technologies and imply the power of blockchain by using the API's or software development kits. Some platforms like hyper ledger and coda, even provision code generators to produce boxed up user interfaces over the blockchain functions defined by us. We can also link multiple user interfaces together to perform a much larger use case over the blockchain. Most blockchain platforms provide us with some sort of connecting services to link over applications with the blockchain. For example, web three js is provided by aetherium to interact with smart code tracks and the Ethereum blockchain. shimmed services are supplied by hyper ledger.

To communicate with the chain code over hyper ledger blockchain. A user interface is necessary to showcase end users the power and functionalities of the blockchain. As mentioned before, users cannot work on a command line interface. They require a good user experience and user markups, so that they can see the working of complete blockchain on a click of a button. This is a generalized overview of the blockchain technology stack. If required, you can define your technology stack as per your needs and requirements.

You can add or remove the layers as necessary. I have already mentioned there is no format defining the blockchain structures right now. So, you are free to choose whatever is suitable for your solution. In the next lecture, we are going to talk about the blockchain ecosystem and see how we can create over blockchain ecosystem using what we have learned till now. If you have any queries, feel free to contact us at info at the rate v two blocks.com

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