Blockchain types, immutability & other features - Introduction

Welcome to the module on Blockchain features! Having understood the concepts of cryptography, hash, Merkle root, digital signatures and consensus mechanisms, you now know how blockchain is an amalgamation of all these features that provides a robust solution.

In this module

In this module, you will explore the different types of blockchains and understand why a specific type applies to a scenario. You will also understand how blockchain leverages cryptographic hashes and consensus mechanisms to ensure immutability of data.

Further, while blockchain provides the quantitative benefits of disintermediation and immutability, you will learn about the qualitative benefits of global reach and trustlessness that leads to flexibility.

Next, you will learn about a crucial element that enhances trustlessness and eliminates the need for an intermediary - smart contract.

Finally, we will end the module by providing you with a high-level architectural overview of the complete blockchain ecosystem.

In this session

In this session, you will learn about the various types of blockchains in addition to the features of immutability and the qualitative features of global reach and trustlessness. The topics covered in this session are

• Types of blockchains
• Immutability
• Blockchain as a future promise

Session objectives

By the end of this session, you will be able to

• Evaluate the applicability of different types of blockchains in a business scenario
• Determine how a blockchain ensures immutability of data
• Discuss the blockchain features of global reach and trustlessness in doing business

Prerequisites

You should have gone through the 'Blockchain Basics' module to have a basic understanding of the key terms used in the blockchain system.

People you will hear from in this session

Subject Matter Expert
Shebin John Samuel

Managing Consultant, IBM

Shebin John Samuel has 11+ years of experience, with Global Technology organizations, in delivering innovative business solutions for Banking & Financial Services industry both in Indian and International markets. He has led transformative digital projects at the intersection of Finance and Technology while mentoring high performing consultants all along. His analytical decision making & 'Design Thinker' mindset has enabled enterprises to drive their vision successfully. He believes in the power of ecosystems and is an active follower of Blockchain technology and its use cases.