Africa-focused technology, digital and innovation ecosystem insight and commentary.
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תוכן מסופק על ידי Gautam Dhameja (web3gautam). כל תוכן הפודקאסטים כולל פרקים, גרפיקה ותיאורי פודקאסטים מועלים ומסופקים ישירות על ידי Gautam Dhameja (web3gautam) או שותף פלטפורמת הפודקאסט שלהם. אם אתה מאמין שמישהו משתמש ביצירה שלך המוגנת בזכויות יוצרים ללא רשותך, אתה יכול לעקוב אחר התהליך המתואר כאן https://he.player.fm/legal.
דומה לBlockShots: Blockchain Simplified
Show notes are at https://stevelitchfield.com/sshow/chat.html
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The director’s commentary track for Daring Fireball. Long digressions on Apple, technology, design, movies, and more.
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Android Backstage, a podcast by and for Android developers. Hosted by developers from the Android engineering team, this show covers topics of interest to Android programmers, with in-depth discussions and interviews with engineers on the Android team at Google. Subscribe to Android Developers YouTube → https://goo.gle/AndroidDevs
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Download This Show is your weekly guide to the world of media, culture, and technology. From social media to gadgets, streaming services to privacy issues. Each week Rae Johnston and guests take a fun, deep dive into how technology is reshaping our lives.
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The power of Data is undeniable. And unharnessed - it’s nothing but chaos. Making data your ally. Using it to lead with confidence and clarity. Host Jess Carter is solving problems in real-time to reveal what’s possible. Helping communities and people thrive. This is Data Driven Leadership, a show brought to you by Resultant.
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Redefining AI is the 2024 New York Digital Award winning tech podcast! Discover a whole new take on Artificial Intelligence in joining host Lauren Hawker Zafer, a top voice in Artificial Intelligence on LinkedIn, for insightful chats that unravel the fascinating world of tech innovation, use case exploration and AI knowledge. Dive into candid discussions with accomplished industry experts and established academics. With each episode, you'll expand your grasp of cutting-edge technologies and ...
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On The Bike Shed, hosts Joël Quenneville and Stephanie Minn discuss development experiences and challenges at thoughtbot with Ruby, Rails, JavaScript, and whatever else is drawing their attention, admiration, or ire this week.
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We help founders make something people want.
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This is the audio podcast version of Troy Hunt's weekly update video published here: https://www.troyhunt.com/tag/weekly-update/
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The Big Pitch with Jimmy Carr
1 Phil Wang Pitches Psychological Thriller Starring WHO?! 24:35
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אהבתיIt’s the very first episode of The Big Pitch with Jimmy Carr and our first guest is Phil Wang! And Phil’s subgenre is…This Place is Evil. We’re talking psychological torture, we’re talking gory death scenes, we’re talking Lorraine Kelly?! The Big Pitch with Jimmy Carr is a brand new comedy podcast where each week a different celebrity guest pitches an idea for a film based on one of the SUPER niche sub-genres on Netflix. From ‘Steamy Crime Movies from the 1970s’ to ‘Australian Dysfunctional Family Comedies Starring A Strong Female Lead’, our celebrity guests will pitch their wacky plot, their dream cast, the marketing stunts, and everything in between. By the end of every episode, Jimmy Carr, Comedian by night / “Netflix Executive” by day, will decide whether the pitch is greenlit or condemned to development hell! Listen on all podcast platforms and watch on the Netflix Is A Joke YouTube Channel . The Big Pitch is a co-production by Netflix and BBC Studios Audio. Jimmy Carr is an award-winning stand-up comedian and writer, touring his brand-new show JIMMY CARR: LAUGHS FUNNY throughout the USA from May to November this year, as well as across the UK and Europe, before hitting Australia and New Zealand in early 2026. All info and tickets for the tour are available at JIMMYCARR.COM Production Coordinator: Becky Carewe-Jeffries Production Manager: Mabel Finnegan-Wright Editor: Stuart Reid Producer: Pete Strauss Executive Producer: Richard Morris Executive Producers for Netflix: Kathryn Huyghue, Erica Brady, and David Markowitz Set Design: Helen Coyston Studios: Tower Bridge Studios Make Up: Samantha Coughlan Cameras: Daniel Spencer Sound: Charlie Emery Branding: Tim Lane Photography: James Hole…
BlockShots: Blockchain Simplified
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תוכן מסופק על ידי Gautam Dhameja (web3gautam). כל תוכן הפודקאסטים כולל פרקים, גרפיקה ותיאורי פודקאסטים מועלים ומסופקים ישירות על ידי Gautam Dhameja (web3gautam) או שותף פלטפורמת הפודקאסט שלהם. אם אתה מאמין שמישהו משתמש ביצירה שלך המוגנת בזכויות יוצרים ללא רשותך, אתה יכול לעקוב אחר התהליך המתואר כאן https://he.player.fm/legal.
Welcome to BlockShots, your guide to demystifying the world of blockchain in a clear and approachable way. Whether you're a crypto enthusiast or just starting out, our goal is to provide you with a solid foundation in blockchain technology. BlockShots is your trusted source for blockchain education in a down-to-earth, no-nonsense style. Tune in, learn, and navigate the world of blockchain with confidence.
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116 פרקים
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Manage series 2823149
תוכן מסופק על ידי Gautam Dhameja (web3gautam). כל תוכן הפודקאסטים כולל פרקים, גרפיקה ותיאורי פודקאסטים מועלים ומסופקים ישירות על ידי Gautam Dhameja (web3gautam) או שותף פלטפורמת הפודקאסט שלהם. אם אתה מאמין שמישהו משתמש ביצירה שלך המוגנת בזכויות יוצרים ללא רשותך, אתה יכול לעקוב אחר התהליך המתואר כאן https://he.player.fm/legal.
Welcome to BlockShots, your guide to demystifying the world of blockchain in a clear and approachable way. Whether you're a crypto enthusiast or just starting out, our goal is to provide you with a solid foundation in blockchain technology. BlockShots is your trusted source for blockchain education in a down-to-earth, no-nonsense style. Tune in, learn, and navigate the world of blockchain with confidence.
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116 פרקים
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Traditionally blockchains execute transactions sequentially. Some of the newer chains have been trying parallel execution of transactions to improve blockchain performance. In this episode we understand what are parallel transactions and how they work.
In this episode we understand what are real world assets and why they are being tokenised. What are real world assets?Any thing of value that has been generated or created in the real world before being represented digitally. For example: Fiat currencies, Art, Commodities, etc. Benefits of tokenisation: Enhanced liquidity, easier trade, easier record keeping and tracking of ownership. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
After a brief break, we are back with new episodes. Ethereum recently upgraded to a new update called Dencun. In this episode we understand what this update is and how it is important. 9 different updates clubbed together. Biggest and most important — introduction of blobs. Protodanksharding. Reduce transaction fee on rollups by providing cheaper data availability. EIP 4844. No fee reduction on Ethereum L1 transactions. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
Restaking is staking of already staked tokens. But how is the possible? If tokens are staked for one purpose — providing econoimic security for consensus of a network — they could be further staked to provide security to other networks or apps. The process of restaking works by overriding the withdrawal and slashing conditions of user’s staked tokens. Listeners are encouraged to also check out the Episode 22 where Proof of Stake and Staking are explained. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
Modular blockchains has been one of the buzz words in the last year. In this episode, let’s understand modularity in blockchains. In the beginning, consensus and execution were part of the same blockchain like Ethereum 1.0. Then execution was decoupled and put into rollups. Then came the need for storing rollup data in the L1. And then we got DA layers as separate networks. Now we have consensus on L1, execution on L2, and data on DA layers. This is how we have modularised the blockchains. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, we understand what are altcoins? Altcoin was first used for any coin other than bitcoin. But the definition has evolved a bit among different circles in the crypto land. Listen to the full episode to explore the topic in detail. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, we understand what are orphan or uncle blocks. This is more of a Proof of Work related concept where two blocks are produced at the same time. One of them becomes part of the chain - based on the longest chain consensus rule - while the other becomes and orphan (Bitcoin) or uncle (Ethereum 1.0) block. Listen to the full episode to understand what eventually happens to these blocks and transactions inside them. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, we understand the two ways of doing blockchain governance - on-chain and off-chain. When the decisions to update the blockchain software are driven by processes off the chain (online forums, meetups, etc.) then it leads to off-chain governance. When the decisions are made using a voting process that is recorded on the blockchain (as transactions) and when the update of the blockchain is driven via this voting, then it is on-chain governance. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
A fork choice rule is part of the blockchain consensus mechanism and it is used to find out the canonical chain for adding new blocks. Fork choice rule becomes relevant when there is a fork caused by network partition or two blocks being produced at the same time. A fork could also happen when there are dishonest validators in the network. When validators produce new blocks, they need to identify which block should be the parent of the block being produced. To find the parent block, validators have to run a function to find out the longest chain. This function is called the fork choice rule. Depending on the blockchain consensus rules, the fork choice rule takes as input the current chain, the votes or attestations on finalized or seen blocks, and other relevant consensus data. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
Rollups are L2 scaling mechanisms where transaction execution is done offchain in the rollup node or sequencer. The state is updated on the L1 based on this execution. Rollup nodes also publish transaction data “rolled up” as batches and blocks on the L1 chain. When it comes to following the blockchain data structure of adding the reference of previous (parent) block to the next block — rollups do that. But the representation of blocks and consensus on L2 could be different. In addition sequencers could just be centralized in some rollups. Hence, rollups do use some characteristics of blockchains while customising some things to suit the execution on L2s. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
When users stake their tokens to provide security and validation in a PoS network, those tokens are locked for the duration of staking. The users can’t use staked tokens for anything else. This is native staking. In Liquid Staking, a liquid token is generated and given to the user in return of staked tokens for the duration of staking. The liquid tokens could be used in some scenarios like DeFi, effectively making the staked tokens useful while staking. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
Sharding in blockchain is of two types — execution sharding and data sharding. There could be other types in the future, the crypto space evolves quickly. In episode 41, what I explained was primarily execution sharding. Where the transaction execution is divided across several sub-chains for faster throughput. https://episodes.blockshots.fm/p/episode-41-blockchain-sharding#details However, Ethereum has moved away from the execution sharding roadmap and is now moving towards data sharding. In data sharding, the validators form smaller subnets (shards) to verify and validate chunks of data posted by the rollups. Hence data sharding is a way to scale and improve data availability on Ethereum. Not every validator has to download all the data chunks, they only have to download and verify on a subnet level. Hence, data is sharded across several shards (logically). This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
To scale blockchains, we need scalability solutions like rollups. To make sure that the rollups are doing the right thing, we need data availability. And to ensure that data availability is done right, we need data availability sampling. This episode explains data availability sampling at a high level and tries to paint a bigger picture on how some of the above mentioned concepts are connected. For details, I encourage to check out the article linked below: https://www.paradigm.xyz/2022/08/das This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
Validiums are L2 scaling solutions similar to ZK Rollups with a basic difference that they use a separate data availability layer instead of posting rollup data on the execution layer (Ethereum mainnet). Validiums also use ZK proofs to prove state transition validity to the L1. Similar to ZK Rollups, Validiums post the validity proof on the Ethereum mainnet (execution layer). However, unlike ZK Rollups, they don’t post the rollup transaction data on Ethereum mainnet. Instead, they post the data on a separate data availability layer. This allows validiums to scale more than ZK Rollups, because they are not limited by data availability bandwidth of Ethereum. However, it also makes them relatively less secure because the user withdrawls from L1 could be restricted if data is not properly made available by the external offchain data availability layer. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
There is a new term in the crypto land — blobspace. Before understanding blobspace, let’s first do a quick refresher on data availability. Check out Episode 88 of the podcast. https://episodes.blockshots.fm/p/episode-88-what-is-data-availability#details Data availability is about making the L2 block data available on the L1s. For Optimistic rollups — to build fraud proofs. For ZK Rollups — to know the state transitions. How do we make data available? By posting it on the L1 chain. Currently it is being posted as a hack — utilising the CALLDATA field in Ethereum transaction format. But that is inefficient and expensive. To improve data availability on Ethereum, an update is planned to introduce posting of data blobs on the L1. This would make data availability cheaper and more efficient for rollups. The data blobs posted by L2s with their transaction data have their own dedicated space inside the blocks. This space is logically separate from the L1 transaction data and is informally called as blobspace . This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
Just a couple of days ago, in a work call, someone asked me the difference between blockchain and blockspace. Blockspace is a bit of a abstract concept. The capacity to fit transactions in a block. Check out episode 44 for a overview of block limits. https://episodes.blockshots.fm/p/episode-44-block-gas-limit-block#details Blockspace is a higher lever concept that refers to the overall capacity of the blockchain to process transactions and data, per block. When we evaluate blockchains, looking from the blockspace perspective can be useful. If the blockspace is secure, that means a blockchain has strong security and decentralization properties. There are less chances for hacks or exploits. If the blockspace is highly available, that means the blockchain has more capacity and throughput to process more transactions. https://www.generalist.com/briefing/blockspace This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this 100th episode we do something special. We look at the Bitcoin whitepaper and summarize the key points. We understand what are the design goals and the problems to solve for Bitcoin. You can read the full Bitcoin whitepaper here - https://bitcoin.org/bitcoin.pdf. Thank you for your support till 100 episodes. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode we understand what is latency in blockchains and how it relates to throughput. We also look at various factors and variables impacting the latency and throughput in blockchains. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode we understand what are Intents in blockchains and how they are different from transactions. We also understand the different usage and needs of intent based approach in designing blockchain applications. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
In this episode we understand what are ASICs (Application Specific Integrated Circuits) and why they are used in Bitcoin and other crypto mining. We also understand their relation with the hash power based proof of work systems. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, we understand the two state models in blockchains - UTXO and Accounts based. Bitcoin uses the UTXO model while Ethereum uses the accounts model. Let’s understand what these are and what are the differences between them. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, we do one more dive into the topic of block finality and discuss the various tradeoffs associated with achieving fast finality. We also discuss some factors impacting finality, and how they further impact our applications. For more details, check out the blog post here - https://www.gautamdhameja.com/instant-finality-feature-or-bug/ Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode we continue the discussion on block finality and understand two different types of finality - Probabilistic Vs. Deterministic. We also look at how these two are applicable in different kind of consensus systems. For more details, check out the blog post here - https://www.gautamdhameja.com/instant-finality-feature-or-bug/ Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, we understand what is finality in blockchains and why is it needed. We look at a few scenarios where the concept of finality plays an important role in determining the state of the blockchain. For more details, check out the blog post here - https://www.gautamdhameja.com/instant-finality-feature-or-bug/ Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, we understand what is Delegated Proof of Stake (DPoS) consensus mechanism and how it is different from normal Proof of Stake. Check out episode 22 first to get the best out of this one. https://episodes.blockshots.fm/p/episode-22-proof-of-stake-492 Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
In this episode, we understand what is Account Abstraction and how it can make user experience much more simpler and easier. To get the best out of this episode, it is encouraged that you check out the following two episodes first. https://episodes.blockshots.fm/p/episode-8-accounts-and-keys-15d https://episodes.blockshots.fm/p/episode-63-not-your-keys-not-your Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, we learn about what are Decentralized Social Networks and how they work. We also understand the issues with current centralized social networks and how decentralization solves some of them. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
In this episode, the topic is Fractional NFTs. Fractionalization of NFTs allows low barrier partial ownership of NFTs. The episode goes into explaining what is partial ownership and how do Fractional NFTs enable it. Previous episodes about NFTs: https://episodes.blockshots.fm/p/episode-31-non-fungible-tokens-nfts#details https://episodes.blockshots.fm/p/episode-69-how-nfts-work#details Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
This episode covers the famous data availability problem in blockchains and how it impacts the security and verifiability among different kinds of scaling and synchronization techniques. This one is slightly more technical. It is recommended that you check out the Light Clients and Rollups episodes before listening to this one. https://episodes.blockshots.fm/p/episode-49-light-clients#details https://episodes.blockshots.fm/p/episode-46-rollups#details Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, we understand what are BRC20 tokens and how they work. They are based on the Bitcoin ordinals and it is recommended that you listen to the Ordinals episode before listening to this one. https://episodes.blockshots.fm/p/episode-78-bitcoin-ordinals#details Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
This episode covers blockchain token standards, how they came up, and what do they solve. It also covers what are ERC20 tokens and why they are so popular. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, the topic is Multiparty Compute (MPC). We go into some basic explanation of what MPC is, how it works, and how it is used as a security measure for crypto wallets. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, the topic is Unstoppable Applications. We understand how applications dependent on others’ platforms and infrastructure can be stopped and how decentralized systems make them unstoppable. To learn how to build Unstoppable Applications and blockchains and the core concepts behind them, do check out Polkadot Blockchain Academy. See more information at the following links. https://linktr.ee/polkadotblockchainacademy https://polkadot.network/development/academy/ https://www.youtube.com/@polkadotblockchainacademy This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
This episode is about AppChains - blockchains designed and built for specific application needs. Understand how AppChains are different from smart contract platforms and what problems they solve. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
In this episode, we do a slightly tangential topic about how smart contracts development is different from conventional software development. This stems from the last few episodes covering virtual machines and blockchain attacks. These create special conditions for execution of smart contacts. Let’s understand that. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
In this episode, we understand MEV Boost - a protocol to reduce the bad effects of MEV. The episode goes a bit deep into how MEV boost works and how it distributes the MEV opportunities and value among all parties. This one is a bit more deep into tech. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
In this episode we do a double click on how MEV works and who gets to make the profit when there is an opportunity. The episode also covers behind-the-scenes components of MEV with clear explanation of the entire process flow. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
In this episode, the topic is another one of blockchain attacks - the 51% Attack. The episode covers what is this attack, how it effects the blockchain consensus systems, and what is the effect on users and applications. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
In this episode the topic is the newly famous Bitcoin ordinals. We understand what are ordinals and how they enable NFTs on the Bitcoin blockchain. We also understand the basics around the ordinal theory. You can also read more about the ordinal theory here - https://docs.ordinals.com/ Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
In this episode, we understand what is a distributed denial-of-service (DDoS) attack and how it is relevant in context of blockchains. We also understand how DDoS attacks have negative impact on the functioning of blockchains. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
In this episode, we understand what is the Ethereum Virtual Machine (EVM) and how it works in the Ethereum blockchain. We also look at how the EVM makes sure all nodes reach consensus while running on different kinds of hardware. It is recommended that you listen to the previous episode about virtual machines to better grasp the concepts in this episode. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, we understand what are virtual machines and how they are relevant in terms of blockchains, decentralized systems and consensus mechanisms. This will help build a foundation to understand other related concepts like EVM in later episodes. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, we clarify what are Staking and Yield Farming, and how they are different from each other. Staking — Generally related to Proof of Stake systems. The block rewards get distributed to the stakers. If the block producer don’t follow the rules, stakers risk losing the stake and the rewards. Yield Farming — Generally related to DeFi. Users provide liquidity to pools and exchanges, and they get returns. These returns come from a share in the exchange fee, interest from loans, etc. In staking, you risk losing your stake if you or the block producer you are backing does something bad. In yield farming, there is no such risk. On the other hand, staking rewards are generated regularly while yield farming happens when users use liquidity pools. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
In this episode, let’s find out how AMMs work, how the price and formulae for liquidity is determined, and what happens when the liquidity changes. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
Initially, I wanted to do a double click on AMMs and how they work. But first I thought I should do a bit of a refresher with my new understanding of AMMs. In this episode, I have explained them with some new examples too. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
These days the term ‘Tokengating’ has been going around quite a bit. In this episode, let’s understand what tokengating is and how it works. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
In the last episode, we understood how NFTs work. In this one, let’s explore top five use-cases of NFTs. From gaming to identity to real estate, let’s understand how NFTs could be used to represent several things on blockchains with full transparency. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
In this episode, let’s understand how NFTs work and how different components come together to create them. There is a lot going behind the scenes from where the assets are stored to how they are linked with their token identity. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In the last episode, we learned about how zero knowledge proofs work. In this episode, let’s go a step further and explore some of their use-cases. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, let’s do a double click on Zero Knowledge Proofs. Let’s understand how they work and how they are implemented for blockchains. This episode goes slightly deeper into the ZK stuff, but still in a easy to understand language. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In the last episode, we touched on how rollups work. In this episode, we go a step further. Let’s understand what are Fraud and Validity proofs and how they are used in rollups. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In the episode 46 of Block Shots, we did a brief introduction of blockchain rollups. In this episode, we go a bit deeper into how rollups work and what components are involved in the block production and verification of rollup blocks. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
You must have heard about the term Metaverse quite a bit in the last few months, ever since NFTs became famous. In this episode, let’s try to explore the most basic understanding of Metaverse and how does blockchain come into the picture. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
You must have heard this phrase quite a few times — Not your keys, not your crypto. Let’s find out, in this episode, what it actually means and how it effects you and your crypto currency holdings. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
Smart contracts are simply code stored and executed on a blockchain. But how do they work? What happens when a user sends a transaction to deploy or execute a smart contract? Let’s find out in this episode. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
Most of us are fans of computer or online gaming. In this episode, we discuss how blockchains make gaming more fun and fulfilling. They also allow different revenue streams though novel economic models in the world of gaming. Let’s explore. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
In this episode, the topic is Soul Bound Tokens. In the most basic sense, they are just non transferable NFTs. However, SBTs open up quite a few interesting use-case cases for blockchains. Listen to the episode to learn more about what are Soul Bound Tokens and how they could be used in several blockchain applications. Vitalik’s blog post about SBTs - https://vitalik.ca/general/2022/01/26/soulbound.html Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, we cover Directed Acyclic Graph or DAG. In blockchain, we have blocks as collection of transactions and the current block references the previous one, and a chain is formed. In DAG, we don’t have any blocks. Transactions directly reference previous transactions. The nodes verify the previous transactions by referencing them in new transactions. When a new transaction is submitted to a DAG, some previous transactions are referenced in it. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, we cover Inter-planetary File System (IPFS) and decentralized file storage protocols in general. We also take a slightly deeper look into how IPFS works. * NFT storage. Metadata storage of on-chain assets. * Distributed, cannot be controlled by single organization. * Censorship resistant. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, we cover Verifiable credentials. These are a standard to represent digital credentials that could be issued for an identity by an identity, and could be verified cryptographically. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
We need a standard for representing identity on decentralized systems to use our decentralized identity across several applications. Decentralized Identifiers or DIDs allow users and applications to represent and use identity related information in a reusable and app or platform agnostic manner. DIDs are described in a DID document. So, the main identifier is the DID, and the associated metadata is stored in the DID document. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
Self-sovereign Identity paradigm refers to identities owned by people themselves without depending on centralized systems or organizations. Facebook, Twitter, LinkedIn, GitHub are all centralized identity platforms. Identities created by these platforms are not exportable or usable across apps. Not in user’s control. Self-sovereign Identity (SSI) is about getting users the control on their identity using decentralized systems. Users create and own their identities on blockchains. They prove ownership using cryptographic signatures. They hold private and PII data in their identity wallets. They could use their identity across several app without copying or creating them again and again. At any time, they could stop sharing their data. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, we cover Automated Market Makers or AMMs. Traditionally exchanges are based on order books. Buyers and sellers are matched with quantity and price in their orders. AMMs are different. They use a conversion formula for trades. They use decentralized liquidity pools for liquidity. Any user can send one asset and get another asset from AMM, as long as there is a liquidity pool with enough liquidity in it. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
In this episode, we discuss Front-running of transactions in blockchains. It is the most common type of MEV. We also touch on Back-running and Sandwich attacks. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
In this episode, we cover Maximal Extractable Value (MEV) and how it works. Miners or Validators are responsible for selecting and including the transactions in a block. They are free to choose any transactions from the mempool. Miners can choose not to select certain transactions. They can also manipulate the order of transactions. This leads to MEV. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
In this episode, we cover what makes Blockchains and decentralized systems censorship resistant. Centralized systems are owned or controlled by organizations. They could limit the usage of some actors depending on local laws. Decentralized systems are not controlled by any single party. They are made equal for everyone, based on the rules of the network. No local laws apply. Users could send their transaction to several nodes, and one of them would include it in a block. No user is disallowed to use the system. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
Blockchains are built for transparency and verifiability. Most of the data on a blockchain is publicly verifiable. For example, all transactions sent to bitcoin are public and anyone could query the balance of any account. Generally, this is not an issue because blockchain accounts are random strings and it is not easy to link an account to a human. This property of blockchains is also called pseudo anonymity. However, sometimes we need privacy on blockchains for some use cases. For example, let’s say two supply chain participants want to transact over a blockchain and they don’t want to disclose their vendor costs to other participants who could be their competitors. In such a scenario, we need a way to hide data on the blockchain. Zero-knowledge proofs are one way of doing it. Zero-knowledge proofs allow a prover to prove that they have some data without disclosing the actual data itself. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
In the episode 3 of the podcast, I covered different kind of blockchain nodes and one of them is light client. In this episode, I’ll cover light clients in a bit more detail. Light clients are special in the sense that they allow more decentralization. Unlike full nodes, light clients do not process all the transactions and blocks. They only synchronize block headers and are much light in terms of resource usage. Any user could run a light client without using any specialized hardware or servers. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
There are different blockchains built to serve different kind of users and use-cases. Bitcoin is for peer to peer transfer of currency while Ethereum is a smart contracts platform. Flow is for NFTs while ZCash is for private transactions. What if applications and users on these blockchains need to interact or integrate with each other? Imagine a use-case where a smart contract on Ethereum, on successful execution, needs to transfer some bitcoin from one account to another on the Bitcoin blockchain. This is where blockchain bridges come into the picture. Bridge allow message passing between two blockchains. Using a bridge, a user on one blockchain could move their assets or token to an account on a different blockchain. The way it works is by locking or burning assets on the source chain and then minting them on the destination chain. The communication to mint the assets on the destination chain is done via messages sent over bridges. Simply put, bridges deploy smart contracts on both source and destination chains and have message relayer software in between the two chains. The user takes action on the source chain smart contract which emits an event. Based on the event the message relayer relays a message to the destination chain. The smart contract on the destination chain then executes the logic on the destination chain based on the message received. Bridges have different kinds of security models. Trusted and trustless. In trusted bridges, some third parties operate relayer nodes and bridging smart contracts on either side. The users and DApps have to rely on the honesty of these third parties. In trustless bridges, the state of either side (chains) is verified using smart contracts and the dependency on third parties is minimal. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
A block is a collection of transactions and some metadata. Let’s take a look at how a block is produced. Let’s just assume that according to the algorithm we already have the node (validator or miner) selected to produce the next block. The first thing that this block producer node would do is to choose which block to build on. Remember blockchain is a chain of blocks. For each new block we need to refer to the hash of the previous block. Hence, the node would first choose or select which block to build on. Recall that all nodes in a blockchain store all the data about the state of the blockchain. So, the node would just pick the hash of the latest block from its local state. Next, the node would pick the transactions waiting in its transaction queue or mem-pool and create a new block by ordering and packaging them together. This process is call block building. The output would be a block — a data object with metadata and a list of included transactions. Once the block is built, it is then broadcasted on the peer-to-peer network for other nodes to download and verify it. The details of broadcast and propagation are depend on the specific implementation of networking protocol for different blockchains. Each node in the network then verifies the block by executing all the transactions in it. If they find everything ok, they update their local state based on the transactions in the block. And the block is added to the chain. This is how a fully decentralized network of nodes updates the state of a distributed ledger. The next block is the built on top of this block, and the process continues. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
Rollups are layer 2 blockchain scalability solutions where the execution of transactions is moved off the main blockchain. Basically, the layer 1 chain is used for keeping the ledger state and providing consensus, while the off-chain layer 2 framework — rollup-is used to execute the transactions and submit the updated state to layer 1. This approach decouples the work to store the ledger state and execute transactions between the layer 1 and layer 2 respectively. The way it helps achieve scalability is by executing many more transactions within the same block period. The users send transactions to the rollup. The rollup gets the previous state of the ledger from the layer 1, executes multiple transactions based on this state, and then submits the updated state to the layer 1. The rollup also “rolls up” or bundles all the transaction data and stores it on layer 1 so that any other verifier or rollup node could check the correctness of execution. There are two kinds of rollups — optimistic rollups and Zero Knowledge (ZK) rollups. In optimistic rollups the transaction execution is verified by other verifiers and they could submit a fraud proof if they find anything wrong with it. While in ZK rollups a cryptographic proof of correct execution of transactions is also submitted along with the updated state and transaction data. Optimistic rollups are hence less secure than ZK rollups, while ZK rollups are slower because of additional proof generation. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
Initially, there were only one kind of blockchain networks where ledger storage and execution of transactions both happened on-chain. These blockchains were not scalable because of the topics and reasons mentioned in some of the previous episodes. To achieve scalability and throughput, some solutions try to decouple or divide this work across on-chain and off-chain systems. Some solutions move the execution of tractions outside the chain while keeping the ledger state on the chain. Some other solutions delegate the work to smaller blockchains outside the main chain. All the these solutions, broadly, come under the umbrella of layer 2 scalability solutions. The main chain where the ledger state and security comes from is the referred to as layer 1. The basic concept is to scale layer 1 blockchains, we offload or delegate some of the execution to layer 2 solutions. The security comes from layer 1 while the scalability comes from layer 2. For example, Ethereum and Bitcoin are layer 1 blockchains and plasma and lightning network are layer 2 solutions. There is one more layer — layer 0. Layer 0 blockchains connect and secure layer 1 blockchains. This is more in terms of blockchain sharding. When we have multiple layer 1 blockchain shards and when we need to verify and connect them all, we use a layer 0 chain. An example of a layer 0 blockchain is Polkadot. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
When we talk about blockchain scalability — which has been the theme for some of the current episodes — we must understand how the block gas limit plays an important role in the scalability discussion. In general, for any public smart contracts blockchain, it is important to measure and charge for the resource usage while executing smart contract logic. For this, we have gas. The concept of gas makes sure the user pays for the logic they want to execute on the chain. This discourages several kinds of attacks on the blockchain. Now let’s understand what block gas limit is. A blockchain block is basically a collection of transactions along with some metadata. A transaction is a packet of data that represents a message from a user to a blockchain. So, in totality, a block is just a bigger packet of data. Another thing is blockchains are peer to peer networks. Which means nodes propagate blocks to their peers during the consensus process. There is also a concept of block time which is the period between the production of two blocks. When we want to propagate a packet of data (a block) across several nodes of a network (blockchain) within a time limit (block period), we need to make sure the size of the data packet is not too large. This allows the block to propagate to maximum number of nodes so that it could be verified in a fully decentralized manner. Hence we need to put a limit on the size of the block. How do we limit the size of the block? By limiting the number of transactions in it. And how do we measure the size and complexity of transactions? Gas. Hence, the block gas limit is the maximum amount of gas which could be used by transactions in that block. If we increase the block gas limit, we will have to increase the block period as well. And if we increase the block period, we will have to wait longer for the transactions to be executed by the blockchains. This is how the block gas limit and block period impacts the blockchain scalability. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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BlockShots: Blockchain Simplified
Since its beginning, the Ethereum network has been using the Proof-of-Work consensus mechanism. As we know, PoW consumes a lot of energy. Now the Ethereum network is moving to Proof-of-Stake consensus mechanism. The merge is when the switch from PoW to PoS is going to happen. Since the December of 2020, there has been a PoS network running in parallel, called the beacon chain. The existing PoW network (main net) and the beacon chain would merge into one and the block production would happen via PoS mechanism. That’s the merge. All accounts, balances, and smart contracts history of the current Ethereum network would remain intact and only the block production mechanism would change. Before merge — PoW blocks. After merge — PoS blocks. Read more about the merge here — https://ethereum.org/en/upgrades/merge/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
When it comes to blockchains, we use the terms performance, scalability, transactions per second (TPS) many times interchangeably. But these are all very different things. I recently read an article on a16z crypto where all these terms were nicely explained and clarified. I encourage you to read this article. https://a16zcrypto.com/why-blockchain-performance-is-hard-to-measure/ In this episode of the podcast, I am sharing my understanding, mainly after reading this article, of blockchain performance and scalability and how they are different from each other. Basically, performance is about the current throughput of a blockchain while scalability is about the capability of a system to increase performance by taking certain measures. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net…
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This is the audio podcast version of Troy Hunt's weekly update video published here: https://www.troyhunt.com/tag/weekly-update/
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