You are viewing a single comment's thread from:

RE: SEC S17-W1 || Steem blockchain sequencers.

in SteemitCryptoAcademy21 days ago

You have comprehensively explained all the sections in a very simple way. I enjoyed reading your blog post .

Then comes the role of consensus which is very important as its the algorithm which is used to having the participants agreement on the valuation of a successful transaction and it follows the sequence in which they may added in the blockchain system.

Consensus sounds like everyone agreeing on the rules of the game. It's like when my friends and I decide on what game to play together. We all have to agree, or else it won't be fair. That's how the blockchain stays fair and secure too, with everyone on board with the same rules.

The proof-of-work based on unique system of solving complicated puzzles and this new blocks are created, its done in sequence as the miners solved the puzzles and then nodes verification takes place.

Mining for cryptocurrency seems like searching for hidden treasure in a video game. Miners solve these tough puzzles to unlock new coins, just like adventurers finding gold coins in a game. It's a bit like a digital treasure hunt, and whoever solves the puzzle first gets the reward and it actually depends upon the strength of the hardware which is known as the computational power.

Light nodes are in simple words actually not for the whole information they just provide the basic information.

Light nodes are like the CliffNotes version of a book. They give you just enough information to understand the main points, without all the extra details. It's like reading a summary instead of the entire book. Light nodes are dependent on full nodes for verification and validation of transactions but they have an advantage of improving scalability of the network.

Decentralization maintains the stability of the Steem network by ensuring that it's not controlled by a single group.

Decentralization is like having a team of superheroes instead of relying on just one superhero to save the day. If one superhero is busy fighting a villain, the others can step in and help out. That's how Steem stays strong and secure, with power spread out among all the participants. We can say that decentralization empowers every participant to take decisions for themselves on their own without working under the guidelines of any single authority.

All the best

Coin Marketplace

STEEM 0.30
TRX 0.12
JST 0.033
BTC 63745.68
ETH 3137.71
USDT 1.00
SBD 3.86