These are the most frequently asked questions in Blockchain.

1. Blockchain FAQs - Most Frequently Asked
Questions in Blockchain

2. FAQs in Blockchain
• What Is Blockchain?
Blockchain is the core technology behind bitcoin. At its heart is a distributed data store.
Anyone who participates in this network has their own data store that stores all of the
transactions that ever happened on the network (this is also known as the distributed
ledger).
Entries are stored within a cryptographic chain of blocks. At every stage, the network of
participants must agree about the latest block of transactions. Agreement is reached
through a process of majority consensus, eliminating duplicate entries, double spending
etc. This process and the cryptographic layering of the blocks makes the agreed
blockchain irreversible and immutable. The ‘history’ of events within this technology
cannot be modified by any one of the participants without majority consensus from the
group.
• What Is A Private Blockchain?
Private blockchains are deployed either within an organization or shared among a known
group of participants. They can be limited to a predefined set of participants. In this case,
Copyright© BlockchainCouncil 2

3. no one else can access the blockchain or the data residing in the same. They can be
secured in a similar way to securing other integrated enterprise applications (e.g.
firewalls, VPN etc).
• What Is A Smart Contract?
A Smart Contract is code that is deployed to the blockchain. Each smart contract
contains code that can have a predefined set of inputs. Smart contracts can also store
data. Following the distributed model of the blockchain, smart contracts run on every
node in the blockchain, and each contract’s data is stored in every node. This data can
be queried at any time. Smart Contracts can also call other smart contracts, enforce
permissions, run workflow logic, perform calculations etc. Smart contract code is
executed within a transaction – so the data stored as a result of running the smart
contract (i.e. the state) is part of the blockchain’s immutable ledger.
Copyright© ToshendraSharma 3
Sign Up Now

4. • How Is This Related To Ethereum?
Ethereum is a group of incredibly smart individuals who have developed the next
generation of blockchain and cryptocurrency. The Ethereum project involves a large
single network (much like Bitcoin), and runs on a cryptocurrency that can be mined
(Ether). We are looking at deploying private networks of the Ethereum (or similar) within
organisations, or across small predetermined groups of organisations.
• What about Mining?
Mining is used a proof of work for participants in the blockchain. Whenever a block of
transactions is to be agreed, every participating node attempts to ‘mine’ the block (a
mathematical algorithmic process that requires extensive CPU capacity). In public
blockchains successful mining is rewarded with a cryptocurrency token.
Copyright© ToshendraSharma 4
Sign Up Now

5. OUR CONTACT DETAILS
https://www.blockchain-council.org
training@blockchain-council.org
fb.com/blockchaincouncil
@chaincouncil
WEBSITE:
EMAIL:
THANK YOU FOR YOUR TIME
Copyright© BlockchainCouncil 5
Blockchain CouncilComPany:
Sign Up Now