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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. podcast.blockshots.net
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Episode 116 - Parallel Execution in Blockchains
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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. This is a public episode. If you would like to discuss this with other subscribers or get access …
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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 reco…
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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 d…
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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 toke…
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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 la…
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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 bonu…
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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 …
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Episode 109 - On-chain vs Off-chain Governance
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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 (a…
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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 val…
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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 prev…
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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 t…
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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/epis…
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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…
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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 Ethereu…
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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…
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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 le…
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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.…
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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, vis…
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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 acc…
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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 o…
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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 subsc…
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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…
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Episode 94 - Probabilistic Vs. Deterministic Finality
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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: htt…
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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-pl…
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Episode 92 - Delegated Proof of Stake (DPoS)
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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 …
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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-…
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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.ne…
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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…
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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.blo…
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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 li…
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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…
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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.bl…
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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 m…
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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, v…
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Episode 82 - Smart Contracts Development: How is it different?
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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…
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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…
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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 …
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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 ac…
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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. …
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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 …
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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 ep…
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Episode 75 - Virtual Machines and Blockchains
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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 thi…
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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. U…
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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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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 …
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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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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 w…
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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 o…
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Episode 68 - Use-cases of Zero Knowledge Proofs
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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…
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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 s…
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