• News
    • Latest News
    • Press Releases
  • Markets
  • Articles
    • Opinion
    • Explainers
    • Guest Posts
    • Sponsored Posts
  • Policy
  • Videos
  • Podcasts
  • Learn
    • DeFi Basics
    • Blockchain Fundamentals
    • Tutorials
    • Reviews
  • Research
    • Case Studies
  • Explore
    • NFTs
    • DAOs
    • Crypto Gaming
    • Metaverses
    • Web3
    • Stablecoins
    • CBDCs
    • DeFi
  • Markets Pro
    • Swap Crypto
    • DeFi Planet Pro
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
  • News
    • Latest News
    • Press Releases
  • Markets
  • Articles
    • Opinion
    • Explainers
    • Guest Posts
    • Sponsored Posts
  • Policy
  • Videos
  • Podcasts
  • Learn
    • DeFi Basics
    • Blockchain Fundamentals
    • Tutorials
    • Reviews
  • Research
    • Case Studies
  • Explore
    • NFTs
    • DAOs
    • Crypto Gaming
    • Metaverses
    • Web3
    • Stablecoins
    • CBDCs
    • DeFi
  • Markets Pro
    • Swap Crypto
    • DeFi Planet Pro
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home Articles

Blockchain Infrastructure 101: A Look Inside the Blockchain Engine Room

3 November 2022
in Articles, Blockchain Fundamentals, Research
Reading Time: 8 mins read
108 1
Blockchain-Infrastructure-101-A-Look-Inside-the-Blockchain-Engine-Room

Contents

    • What Is Blockchain Infrastructure?
  • Why Do Blockchains Need Infrastructure?
    • A Brief Overview of Bitcoin
  • Blockchain Infrastructure Requirements 
    • Software Requirements
      • Solidity
      • Geth
      • Remix
      • Metamask
    • Hardware Requirements
      • CPU
      • GPUs
      • Nodes and Clients
      • Clusters
    • How to Participate in Blockchain Infrastructure
      • Large Token Holder
      • Minor Token Holder
      • Institution
    • In Conclusion,

Every complex system requires suitable infrastructure (or resources) as well as an underlying architecture. Proof-of-Stake networks require nodes, software implementations, and cloud- or hardware-based systems, much like a power grid, power plants, and pipelines are required to provide electricity to a region. 

Platform-as-a-service (PaaS) providers for blockchain infrastructure coordinate and manage access to the infrastructure that drives blockchains (such as developer tools and nodes) as well as the infrastructure that their systems require to run (like cloud storage and security). 

This article explores blockchain infrastructure and its application in network operations. 

What Is Blockchain Infrastructure?

Source: iMi Blockchain

Blockchain infrastructure is an essential component of blockchain architecture. It refers to the systems or facilities put in place to ensure the success of blockchain technology. Blockchain is much more than just software. Hardware is also involved. 

The system requirements for blockchain development are less important than running a node 24 hours a day, seven days a week. 

To properly pilot blockchain projects, it is critical to plan for infrastructure resources that will support the initial pilots and lay the groundwork for scaling if and when the pilots are turned into live, competitively crucial production implementations.

As a result, in addition to considering the business implications of emerging blockchain trials, the implications of blockchain for data centre architecture must also be taken into account. 

Why Do Blockchains Need Infrastructure?

The word “blockchain” was first used in 1991. A group of researchers sought to develop a technique for time-stamping digital documents so that they couldn’t be modified or backdated. They built the world’s first blockchain ecosystem.

Satoshi Nakamoto adopted and reinvented the blockchain system. In 2008, Nakamoto launched the first cryptocurrency, a blockchain-based project named Bitcoin.

A blockchain is a network of blocks containing specific information (database) that are securely and authentically linked together (peer-to-peer). 

In other words, a blockchain is a network of interconnected computers rather than a centralized server, implying that the entire network is decentralized. After learning how to develop a blockchain, it is also necessary to understand its open-source nature. 

A Brief Overview of Bitcoin

The domain name bitcoin.org was purchased in 2008, and an academic whitepaper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” was published. It outlined the concept and architecture of a digital money system that is not controlled by any organization, central authority, or government. 

According to Satoshi, “The root problem with conventional currencies is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. ” 

The software described in the paper was completed and released the following year. The Bitcoin network went live on January 3, 2009. 

Nakamoto worked in collaboration with numerous developers on the project until 2010 when he (or she) withdrew and left it to its own devices. The true identity of Nakamoto has never been established, and they haven’t made any public statements in years. 

Blockchain Infrastructure Requirements 

A blockchain, a type of distributed ledger, is much more than a new type of software or database. This is why a smart and comprehensive infrastructure is required. This section delves into the blockchain infrastructure’s software and hardware requirements. 

Software Requirements

Solidity

This is, without a doubt, one of the most popular languages among blockchain developers. It was created to target the Ethereum Virtual Machine and was influenced by Python, C++, and JavaScript (EVM). Solidity is statically typed and supports inheritance, libraries, and advanced user-defined types.

Solidity supports the most generally used OOP paradigm and CIS for developing smart contracts. Blockchain developers can use Solidity to create apps that can execute self-enforcing business logic contained in smart contracts, resulting in an authoritative transaction record. This is useful for establishing voting contracts, crowdfunding contracts, multi-signature wallets, and blind auctions. 

Geth

The Ethereum node implementation was built using the Go programming language. It is offered in three different interfaces: a command-line, a JSON-RPC server, and an interactive console. Geth can be used to develop blockchain applications on Windows, Linux, and Mac.

Geth is used for a variety of functions on the Ethereum blockchain, including token transfers, ether token mining, smart contract creation, and block history exploration. Users can join an existing blockchain or create their own after installing Geth. The good news is that Geth simplifies things by connecting to the Ethereum mainnet automatically. 

Remix

Remix IDE is a browser-based blockchain application for developing and deploying smart contracts. Remix, which is written in Javascript (and thus accessible via any modern browser), can be used to author, test, debug, and deploy Solidity smart contracts. It can be used locally or in a browser. 

Remix has excellent documentation and can easily connect to the Ethereum blockchain via Metamask. 

Metamask

Metamask is a wallet that links the Ethereum blockchain and a browser (Firefox or Chrome). It essentially functions as a browser extension. Metamask provides a software framework for serving Ether and other ERC-20 assets as well as interacting with Ethereum Dapps. 

Shapeshift, and Coinbase also support the sale and purchase of ETH and ERC-20 tokens. Metamask can also be used to store ether keys and ERC-20 tokens. It is ideal for blockchain developers because it is capable of interfacing with different Ethereum test networks. After installing the program, users can easily have an Ethereum wallet built into their browsers. 

Other software requirements include mist, solc, ganache, truffle, blockchain-as-a-service, and blockchain testnet.

Hardware Requirements

CPU

A CPU can be considered the system’s brain. It handles high-level activities that affect the entire computer. A fast CPU means increased performance, which translates to faster task completion. 

For decades, this was the standard (and it is still the standard today). However, blockchain technology is fundamentally altering how we think about computing power, particularly in terms of latency and real-time transactions. 

GPUs

Graphics processing units (GPU), also called graphics cards, are specialized for handling computer display functions such as video rendering. 

A GPU is designed to perform a large number of calculations quickly, which means it can perform more calculations per second. However, the calculations must not be overly complex. 

Nodes and Clients

Nodes are critical components of the Proof-of-Stake infrastructure. A node is a computer that performs network-critical services such as transaction validation, blockchain record keeping, blockchain data storage, and network governance voting. A client is a program that controls how these fundamental functions are performed. 

Clusters

The term “cluster” refers to a network-specific node (or collection of nodes) and the infrastructure that supports it, such as load-balancing tools, monitoring, and alerting systems.

How to Participate in Blockchain Infrastructure

Large Token Holder

Those who have a large number of native tokens for a Proof-of-Stake network can set up their first node using Coinbase Cloud. They can strengthen their networks and earn participation rewards by assisting in securing one of the more than 20 networks supported by Coinbase.

Since Coinbase Cloud is noncustodial, participants can keep ownership of their digital assets while Coinbase manages the participants’ infrastructure with 24/7 monitoring and industry-leading engineering response times. 

Minor Token Holder

Those who do not have enough tokens to run their node can delegate (or stake) their tokens to Coinbase Cloud’s public validators and be rewarded with participation incentives while helping to secure these networks.

In most protocols, no minimum number of tokens is required to delegate to an operational validator node. As a result, even people with few digital assets can participate in a network through delegation.

When the risks and trade-offs are considered, delegation can be a way for token holders to support and participate in blockchain networks while earning more digital assets. 

Institution

Technological and regulatory breakthroughs are hastening the institutional adoption of cryptocurrency. Proof-of-Stake blockchains are becoming increasingly popular. Currently, they power more than $200 billion worth of assets, providing institutions with a new opportunity to grow and offer more value-added services to their clients. 

The in-house development and maintenance of blockchain infrastructure is expensive and time-consuming. The Coinbase Cloud can provide non-native businesses with the tools needed to participate in Proof-of-Stake networks. 

Coinbase Cloud allows participants to offer and grow their services faster and for less money while still meeting the participants’ requirements for security and reliability. 

In Conclusion,

  • Blockchain infrastructures are the components or systems that enable platforms built using blockchain technology to function.
  • Customers can gain direct access to blockchain infrastructure providers, for example, if they operate data centres, implement security measures, and maintain servers.
  • Access to these services is set up and maintained by a blockchain infrastructure platform-as-a-service provider. They also provide the code to build on, the platform on which they are accessed, development tools, container services, metrics and analytics, and community support.

 

If you would like to read more articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Share64Tweet40Share11
Previous Post

2022 Crypto Exchange Review: Getting the Most Out of KuCoin

Next Post

Binance Announces Partnership With Ledger

Adedamola Ojedokun

Adedamola Ojedokun

Related Posts

Chinese Suppliers of Fentanyl Precursors Accept Cryptocurrency Payments - Research
Latest News

Chinese Suppliers of Fentanyl Precursors Accept Cryptocurrency Payments – Research

24 May 2023

A recent study conducted by Elliptic, a leading provider of blockchain analytics and crypto compliance solutions, has shed light on the alarming connection between the fentanyl epidemic in the United States and cryptocurrency transactions. The research identified over 90...

CurveFi’s-CrvUSD-Stablecoin-All-you-need-to-know
Articles

CurveFi’s CrvUSD Stablecoin: All You Need To Know

24 May 2023

Introduction Stablecoins, with a market valued at an impressive $130 billion, have become a vital tool in DeFi to safeguard against market volatility and the risks of traditional finance. However, most stablecoins available today are centralized and prone to...

Careers-In-Cryptocurrency-How-To-Land-Your-First-Crypto Job
Articles

Careers In Cryptocurrency: How To Land Your First Crypto Job

23 May 2023

Introduction If there's one thing everyone can agree on, it's that "cryptocurrency" is no longer just a buzzword. In a remarkable feat, it has become the fastest tech product and industry to hit the trillion-dollar mark, achieving this milestone...

Popular-NFT-marketplaces-and-what-they-offer
Articles

Popular NFT Marketplaces And What They Offer

19 May 2023

Introduction The NFT market is predicted to grow to a valuation of $211.72 billion by 2030, demonstrating the enormous potential for wealth creation through this innovative concept. The sector's current valuation of $10 billion, as well as the estimated...

Swap Crypto

Markets Update

DOGE Hits $10B Market Cap; Community Criticizes New Twitter CEO Appointment

1 week ago

NFT Market in Q1 2023: A Tale of Strong Starts, Mixed Performances, and Shifting Market Dynamics

2 weeks ago

Pepe Coin Makes Impressive Market Debut, Surpasses Shiba Inu and Dogecoin in Market Capitalization

3 weeks ago

Litecoin (LTC) Retraces After Hitting $100: Can LTC Halving Lead to New ATH?

4 weeks ago

Bitcoin Shows Potential to Reach $30,000 Amid Volatile Market Conditions

4 weeks ago

XRP Fluctuates As Ripple-SEC Case Nears Conclusion and Regulatory Pressures Mount

1 month ago
Read More

Spotlight

All about SolChicks

All about Algorand

All about Bitcoin

All about Goracle

Press Releases

BitMEX Introduces a New PnL Realisation Feature for More Capital-Efficient Cross-Margining

BitMEX Introduces a New PnL Realization Feature

byGuest Author
13 April 2023
0

...

BitMEX Joins TRUST Protocol to Expand Travel Rule Compliance Capabilities, Aims to Adapt Swiftly in an Evolving Landscape

BitMEX Joins TRUST Protocol to Expand Travel Rule Compliance Capabilities

byGuest Author
13 April 2023
0

...

Vybe Launches Bntyhntr: A Digitalized Treasure Hunt Product on the Algorand Chain

Vybe Launches Bntyhntr: A Digitalized Treasure Hunt Product on the Algorand Chain

byGuest Author
25 January 2023
0

...

BetDEX-Exchange-to-Launch-on-Solana-Mainnet-Ahead-of-2022-FIFA-World-Cup.jpg

BetDEX Exchange to Launch on Solana Mainnet Ahead of 2022 FIFA World Cup

byGuest Author
8 November 2022
0

...

BetDEX-Exchange-Becomes-First-Fully-Licensed-Sports-Betting-Exchange-on-Blockchain.jpg

BetDEX Exchange Becomes First Fully-Licensed Sports Betting Exchange on Blockchain

byGuest Author
1 November 2022
0

...

Read More
  • About Us
  • The Team
  • Careers
  • Contact
  • Partnerships

© Copyright 2023 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

No Result
View All Result
  • News
    • Latest News
    • Press Releases
  • Markets
  • Articles
    • Opinion
    • Explainers
    • Guest Posts
    • Sponsored Posts
  • Policy
  • Videos
  • Podcasts
  • Learn
    • DeFi Basics
    • Blockchain Fundamentals
    • Tutorials
    • Reviews
  • Research
    • Case Studies
  • Explore
    • NFTs
    • DAOs
    • Crypto Gaming
    • Metaverses
    • Web3
    • Stablecoins
    • CBDCs
    • DeFi
  • Markets Pro
    • Swap Crypto
    • DeFi Planet Pro
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$27,596.003.05%
    BITCOIN
    24H : 3.05%
    Volume : $8,080,661,837.00
    Marketcap : $535,046,207,989.00
  • ethereumEthereum(ETH)$1,856.141.55%
    ETHEREUM
    24H : 1.55%
    Volume : $5,783,010,853.00
    Marketcap : $223,280,575,109.00
  • tetherTether(USDT)$1.000-0.04%
    TETHER
    24H : -0.04%
    Volume : $16,629,377,782.00
    Marketcap : $83,229,156,017.00
  • binancecoinBNB(BNB)$309.241.08%
    BNB
    24H : 1.08%
    Volume : $479,793,555.00
    Marketcap : $48,857,096,065.00
  • usd-coinUSD Coin(USDC)$1.0000.030%
    USD COIN
    24H : 0.030%
    Volume : $3,182,752,964.00
    Marketcap : $29,080,609,248.00
  • rippleXRP(XRP)$0.4791.48%
    XRP
    24H : 1.48%
    Volume : $620,553,727.00
    Marketcap : $24,908,411,727.00
  • cardanoCardano(ADA)$0.3782.99%
    CARDANO
    24H : 2.99%
    Volume : $213,580,166.00
    Marketcap : $13,247,573,637.00
  • staked-etherLido Staked Ether(STETH)$1,856.131.65%
    LIDO STAKED ETHER
    24H : 1.65%
    Volume : $14,837,465.00
    Marketcap : $12,644,904,742.00
  • dogecoinDogecoin(DOGE)$0.0731.43%
    DOGECOIN
    24H : 1.43%
    Volume : $233,851,033.00
    Marketcap : $10,185,213,106.00
  • matic-networkPolygon(MATIC)$0.9311.11%
    POLYGON
    24H : 1.11%
    Volume : $196,048,858.00
    Marketcap : $8,648,692,436.00

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00