Distributed systems in Blockchain are computing principles where two or more nodes work with each other in a coordinated fashion in order to achieve a common outcome. It is systemized in such a way that end users see it as a single logical platform.
According to many Blockchain consulting companies the main challenge in distributed system design is coordination between nodes and fault tolerance. Here in this article we will learn distributed system in detail with current ecosystem.
The current system is centralized and all transactions are carried out using the same central system or authority. Let us understand how banking operations work.
E.g. Alex wants to send US $100 to Bob.
Current Ecosystem
Challenges in current system:
- Data of all stakeholder stays with central system
- Possible to transact as long as central system is operational
- Any fault can hold the complete ecosystem
- If central system is faltered or hacked, the damage is too high
In distributed network, each node holds the complete information. One node processes the request and adds the same in blockchain. On success, it broadcast the result to all other nodes in the current network. The biggest challenge in distributed network is consistency. It is important to have correct information to all nodes.
Planning to Hire Blockchain Development Company? Contact Now
Double-spend problem and consensus – Imagine you have US $100 in your wallet. You send US $100 to person X and at the same time you send US $100 to person Y. If there is no mechanism to check the current status of wallet, person X and person Y both should receive US $100. This problem is called double-spend problem. Using the same resource multiple times due to lack of understanding current state of the system.
Distributed System in Blockchain Distributed systems in Blockchain are computing principles where two or more nodes work with each other in a coordinated fashion in order to achieve a common outcome. It is systemized in such a way that end users see it as a single logical platform. According to many Blockchain consulting companies the main challenge in distributed system design is coordination between nodes and fault tolerance. Here in this article we will learn distributed system in detail with current ecosystem. The current system is centralized and all transactions are carried out using the same central system or authority. Let us understand how banking operations work. E.g. Alex wants to send US $100 to Bob. Current Ecosystem Challenges in current system: Data of all stakeholder stays with central system Possible to transact as long as central system is operational Any fault can hold the complete ecosystem If central system is faltered or hacked, the damage is too high Read More: Block, Blockchain And Distributed Ledger Technology In distributed network, each node holds the complete information. One node processes the request and adds the same in blockchain. On success, it broadcast the result to all other nodes in the current network. The biggest challenge in distributed network is consistency. It is important to have correct information to all nodes. Planning to Hire Blockchain Development Company? Contact Now See here Double-spend problem and consensus – Imagine you have US $100 in your wallet. You send US $100 to person X and at the same time you send US $100 to person Y. If there is no mechanism to check the current status of wallet, person X and person Y both should receive US $100. This problem is called double-spend problem. Using the same resource multiple times due to lack of understanding current state of the system.
Build Your Agile Team
Recent Posts
-
Power Apps Solving 13 Legal Challenges
September 30, 2024
-
How to Automate Power BI Reports Using Power Automate
September 30, 2024
-
September 27, 2024
-
UWP vs WPF - Key Differences Explained!
September 24, 2024
-
13 Tips to Improve Case Management Using Power Apps
September 19, 2024
Categories
- .NET Framework (101)
- Amazon API : MWS (2)
- Blockchain Development (41)
- Charting tools (2)
- Digital Currency (3)
- JavaScript frameworks (5)
- NopCommerce (2)
- Telerik AppBuilder (2)
- Xamarin (16)
- IoT - Internet of Things (5)
- Node.js Development (21)
- VueJs (4)
- Angular Development (63)
- ASP.NET Development (106)
- Javascript (3)
- Ionic (3)
- WPF Development (16)
- C# development (10)
- MVC development (22)
- Java Development (14)
- React JS (28)
- Other Software Technologies (50)
