Blockchain internals
Blockchain: A Graph Primer
Abstract
Bitcoin and its underlying technology Blockchain have become popular in recent years. Designed to facilitate a secure distributed platform without central authorities, Blockchain is heralded as a paradigm that will be as powerful as Big Data, Cloud Computing and Machine learning. Blockchain incorporates novel ideas from various fields such as public key encryption and distributed systems. As such, a reader often comes across resources that explain the Blockchain technology from a certain perspective only, leaving the reader with more questions than before. We will offer a holistic view on Blockchain. Starting with a brief history, we will give the building blocks of Blockchain, and explain their interactions. As graph mining has become a major part its analysis, we will elaborate on graph theoretical aspects of the Blockchain technology. We also devote a section to the future of Blockchain and explain how extensions like Smart Contracts and De-centralized Autonomous Organizations will function. Without assuming any reader expertise, our aim is to provide a concise but complete description of the Blockchain technology.