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Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
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I tried to explain what Block is in comic strips.
TL;DR
I explained what Block is and how Block relates to Blockchain and Marlet Tree.
Some Takeaway
A block is a data structure within the blockchain database. It is a collection of data for each transaction in a cryptocurrency blockchain that will be permanently recorded. Each block carries information about transactions that require participants to validate. Think of a block as an accounting ledger with transaction data recorded in a datasheet and wait for someone to verify its authenticity and accuracy. Once a block has been validated, it will post in the blockchain and broadcast to the public, while a new block will be created for validation. The continuation of the process will form a network of data that links to each other through a chain. And the blockchain will be created. It will grow into a tree of data that others can go back to the history to validate its authenticity.
How a block works
Take an example of Bitcoin, in which a block will have elements such as magic number, block size, block header, transaction counter, and transactions. Each element gives important information for validators or miners to verify. To become more efficient, the correct and concise information helps miners process each verification promptly.
Block Size
Not to mention that each block has its limited size to constrain limited data. Thus, each block can only contain much information for miners to go through.
Nonce
The most important element of the block is the encrypted number that a miner must solve to verify the block and get their rewards. It is a mechanism to reach a consensus through a computational power that solves a puzzle through the hash. It is a core part that makes consensus as Proof of Work.
Block Height
Another element that you want to know is block height. In a literal sense, it is a measurement of the length of the block. In the form of blockchain, measures how many blocks previously have been created and verified.
Merkle Tree
It is a type of hash result into a single hash. Hash is a mathematical way to turn information into a string of code. It then hashed and merged into a branch of information. Such a process will continue with each block to be created and closed. The tree will continue growing as long as the transaction continues.
In conclusion
A block is an information data container that records with limited transaction information from the blockchain to be created and verified.
I tried to explain what Block is in comic strips.
TL;DR
I explained what Block is and how Block relates to Blockchain and Marlet Tree.
Some Takeaway
A block is a data structure within the blockchain database. It is a collection of data for each transaction in a cryptocurrency blockchain that will be permanently recorded. Each block carries information about transactions that require participants to validate. Think of a block as an accounting ledger with transaction data recorded in a datasheet and wait for someone to verify its authenticity and accuracy. Once a block has been validated, it will post in the blockchain and broadcast to the public, while a new block will be created for validation. The continuation of the process will form a network of data that links to each other through a chain. And the blockchain will be created. It will grow into a tree of data that others can go back to the history to validate its authenticity.
How a block works
Take an example of Bitcoin, in which a block will have elements such as magic number, block size, block header, transaction counter, and transactions. Each element gives important information for validators or miners to verify. To become more efficient, the correct and concise information helps miners process each verification promptly.
Block Size
Not to mention that each block has its limited size to constrain limited data. Thus, each block can only contain much information for miners to go through.
Nonce
The most important element of the block is the encrypted number that a miner must solve to verify the block and get their rewards. It is a mechanism to reach a consensus through a computational power that solves a puzzle through the hash. It is a core part that makes consensus as Proof of Work.
Block Height
Another element that you want to know is block height. In a literal sense, it is a measurement of the length of the block. In the form of blockchain, measures how many blocks previously have been created and verified.
Merkle Tree
It is a type of hash result into a single hash. Hash is a mathematical way to turn information into a string of code. It then hashed and merged into a branch of information. Such a process will continue with each block to be created and closed. The tree will continue growing as long as the transaction continues.
In conclusion
A block is an information data container that records with limited transaction information from the blockchain to be created and verified.
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