×
iFour Logo

Distributed System in Blockchain

iFour Team - March 27, 2019

Listening is fun too.

Straighten your back and cherish with coffee - PLAY !

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.

 

distributed system in blockchain

Current Ecosystem

 

Distributed Ecosystem in Blockchain

Challenges in current system:

  1. Data of all stakeholder stays with central system
  2. Possible to transact as long as central system is operational
  3. Any fault can hold the complete ecosystem
  4. If central system is faltered or hacked, the damage is too high

 

Distributed Network in Blockchain

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.

Categories

Ensure your sustainable growth with our team

Talk to our experts
Sustainable
Sustainable
 

Blog Our insights

Healthcare Technology: A double-edged sword for Hospital Management
Healthcare Technology: A double-edged sword for Hospital Management

Table of Content 1.Data access is easier while information theft is a problem 2.Increased automation, decreased human connection 3.Improves efficiency while increasing...

Read More
What’s new in Node.js 18: A comprehensive guide
What’s new in Node.js 18: A comprehensive guide

Table of Content 1.Node 18 is now available! What changes does it bring? 2Browser-compatible APIs can be accessed globally 3Test Runner Module 4Web Streams API 5Build...

Read More
15 ways to leverage collaborative technology in the Legal industry
15 ways to leverage collaborative technology in the Legal industry

Table of Content 1. Remove barriers in communication 2. Increase accessibility, reduce costs and simplifies collaboration 3. Documentation and easy sharing 4. Ensures...

Read More