The goal of this tutorial is to explore and understand the various use cases of blockchain technology across different industries.
By the end of this tutorial, you will be able to understand:
No specific prerequisites are required for this tutorial. However, a basic understanding of how digital technology works could be beneficial.
Blockchain is a type of distributed ledger technology that stores data across multiple systems in a decentralized network to enable peer-to-peer transactions. Its most significant advantage is that it's highly secure and transparent.
Blockchain technology has multiple use cases across various industries. Here are a few examples:
Although we won't be coding a blockchain from scratch in this tutorial, here's a small example of how a blockchain may be implemented using Python.
# defining the 'Block' data structure
class Block:
def __init__(self, previous_block_hash, transaction_list):
self.previous_block_hash = previous_block_hash
self.transaction_list = transaction_list
# creating an instance of 'Block'
block1 = Block("Initial String", ["A sends 2 BTC to B",
"B sends 4.1 BTC to C"])
In the above example, a class 'Block' is created which has a previous hash block and a list of transactions. An instance of 'Block' is then created.
In this tutorial, we explored the concept of blockchain technology and its use cases in various industries like finance, supply chain, and healthcare. The future of blockchain technology is promising, with its potential applications being vast and varied.
To enhance your understanding of blockchain technology, here are a few practice exercises:
# creating an instance of 'Block' with more transactions
block1 = Block("Initial String", ["A sends 2 BTC to B",
"B sends 4.1 BTC to C",
"C sends 5 BTC to A"])
In the above code, an additional transaction ("C sends 5 BTC to A") is added to the list of transactions.