How you ever wondered how each blockchain is created visually?
If you are not a tech-savvy person like me, it is hard for us to visualize how the blockchain is being created from one block to another after miners validate each block with a new chain. Well, for me, it is difficult to visualize how the system works! LOL! |｡･ω･|ﾉ ﾈﾏｽｰ
On the website of Bitcoin.org, it says ” The blockchain is a shared public ledger on which the entire Bitcoin network relies. All confirmed transactions are included in the blockchain. It allows Bitcoin wallets to calculate their spendable balance so that new transactions can be verified thereby ensuring they're actually owned by the spender. The integrity and the chronological order of the blockchain are enforced with cryptography.” (2) o(´^`)o ｳｰ
Well, I am confused…I need some visualization!
If you wonder there is a website to visualize the blockchain process… Yup! There is a website for us! Thank you, txstreet.com!! (･д･)ﾎｫｰ
Txstreet.com visualizes how each blockchain is created using a cute child-like character waiting for a bus to get on. Children are waiting for getting on a bus (which is a blockchain). Each person represents a transaction we create all over the world.
If there are many children (people) waiting to get on the bus, which means that the transaction causing some conjunction.
If you use a dual-screen, it can show both Bitcoin (BTC) and Bitcoin Cash (BCH) transactions. And, it is easy to see how fast BCH transactions are being handled and put in a new blockchain. For BTC, it has been congested all the time with very high transaction fees. And, I would like to mention that on the screen, it tells the average transaction fees at the moment. Bitcoin (BTC) is usually more than 5USD or more, and Bitcoin Cash (BCH) is 0.001USD. (･ﾛ･)ﾎ(‘ﾛ’)ﾎ–ｯｯ!!!
And, on the BTC screen, you sometimes see a person gets on a bus cutting the line! Well, it is a transaction that pays a very high transaction fee to put itself on the blockchain to be confirmed. In the reality, sometimes, some rich people cut the line (which I wait in the line!) then get on the bus or the taxi. I get fed up with it. Well, this is what is happening in Bitcoin now. The cryptocurrency for the rich. Bitcoin has become (sadly) the cryptocurrency for the rich to store the wealth. The rich get richer storing Bitcoin paying very high transaction fees cutting the line which many ordinary people have been waiting in line. In contrast, Bitcoin Cash shows that the total amount of transactions is very low. And, it shows that Bitcoin Cash is functioning as a currency which people use daily. That is one of the reasons why I love Bitcoin Cash. (人´∀`)ﾀﾞﾖﾈ!
Besides, it is very cool that we can see details of each transaction if we click on a person icon. It shows, “status”, “hash”, “fee/satoshi”, “total sent”.
If you click the screen on the left, there are several icons you can check.
List of icons on TxStreet on Bitcoin Cash
1. Simple ledger Protocol - Tokenize anything with Simple Ledger Protocol (SLP) - an emerging standard protocol for issuing security tokens on the Bitcoin Cash blockchain.
2. Donate to TxStreet - This project is funded by the community
3. Cash Fusion - CashFusion provides high levels of privacy via a flexible scheme that allows an arbitrary number of inputs and outputs of non-standard amounts. It provides anonymous, trustless coordination with usually zero-knowledge of linkages revealed to other players or the server.
4. Cash Shuffle - CashShuffle is a fully decentralized coin mixing protocol that shuffles your Bitcoin Cash with other network participants. This shuffling process obscures your real spending and makes it difficult for chain analysis companies to follow your transactions.
5. EatBCH - eatBCH is not a typical charity. We simply provide food to people that prepare and deliver meals to their community. Kind of like when a neighbor knocks on your door to share a freshly baked slice of apple pie.
The website helps me understand how the blockchain works for a person like me who has very little knowledge of programming or computer science. I hope you also enjoy the website!
Mizuo – April 1st, 2021
Other stories in my blog (As of Mar. 2021)
1 - Reasons why I started becoming interested in cryptocurrencies.
2 - At last, I encountered Bitcoin and Bitcoin Cash!
3 – My first question towards BTC and BCH. What are cryptocurrencies anyways!?
5 – At last, I encountered Bitcoin.com
6 – Cyberpunk!!
8 – BTC and BCH help “unbanked” people (・∀・)ｲｲﾈ!!
References
1) TxStreet.com (Bitcoin Cash)
2) Bitcoin.org
https://bitcoin.org/en/how-it-works
3) Simple Ledger Protocol (SLP)
4) Anyhedge
5) Cash Fashion
https://github.com/cashshuffle/spec/blob/master/CASHFUSION.md
6) eatBCH (charity)
7) txstreet wiki
https://wiki.txstreet.com/en/home
