Blockchains

Purpose

Blockchains are ever expanding lists of records which are linked using cryptography. These list of records are called blocks and each of them contain a cryptographic hash of the previous block along with some additional information like a timestamp. Hyperledger is an open source collaborative effort to bring together different industry blockchain technologies together.

You will need the following to complete this assignment:

  • Any computer with a web browser

    Expectations

    ****Need to add here.****

    Please be sure to create a Google Doc that contains screenshots with captions indicating what you are accomplishing. This will be used to help show that you completed the project and can be used as a reference later on for you. This will also be your submission for this project. The number of screenshots is to be determined but typically it should match the page count of the project.

    Directions

    Using any web browser, go to the following site:https://blockchain.io/

    Follow the directions and complete the "demo".

    Take a few screenshots as you progress. One from steps 1-9, one from steps 10-18, and one from steps 19-28.

    Once you have completed that website, go to this one:https://andersbrownworth.com/blockchain/

    There will be two videos you can watch for assistance with this. I highly encourage you to watch them if you have any questions about blockchain. From here, go to this website: https://andersbrownworth.com/blockchain/blockchain

    This is another demo page for a blockchain. To begin with, you should note that there are no data stored in the blocks (empty) and that all blocks are valid due to the green background. Enter your first name into the first block. Notice what happens to each block.

    The data has been changed therefore the block chain has been "compromised". Click on the Mine button and notice what happens to the nonce.

    The nonce has to change to make the hash complete. Notice that the hash starts with four zeroes. Also take note that the block is green again, meaning it is now valid in the blockchain.

    Take a screenshot showing your name, what your nonce value is and what your hash value is in the first block.

    Let's do more with this blockchain. Enter the following values in each block:

  • Block 1: Jim has 200 gold pieces
  • Block 2: Jim gives Jane 100 gold pieces
  • Block 3: Jane gives Joe 30 gold pieces

    Use the images below for reference:

    Once you have entered the data, Mine each block in order.

    Take a couple of screenshots here showing the values for each block. I've provided the first block for you to make sure you are on the right path.

    The last thing we will do on this website is look at how blockchains work in "coinbase" transactions. At the top-right, you should see the word Coinbase. Click on it. What you are seeing is how rewards work via mining.

    In each of the blocks, make the following changes:

  • Block 1: Leave it as is
  • Block 2: Coinbase reward goes to Sophia
  • Block 3: Leave it as is
  • Block 4: Coinbase reward shrinks to $45
  • Block 5: Same as Block 4 with the reward value shrinking to $45

    Mine them in order.

    Take screenshots showing your progress in this section. This concludes Project 02.

    Created in previous years, drafted online in January 2021