Hi everyone!

I hope you are all doing Great and having a good time. I am happy to tell you that I am taking part in the Steem Blockchain sequencer Contest . We are going to learn about how blockchains like the one on steemit work. Blockchain are like digital notebook that keep information safe and clear. They use something called transaction sequencing to make sure everything is correct. In this Contest we will learn about the Steem blockchain sequencer. Its an important part of how Steemit works. We will also talk about how blockchain decide on thing together and why its important.

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Understanding Transaction Sequencing from My Perspective

The blockchain is like digital ledger or record book that keeps track of transactions just like bank keeps track of your money. Now let dive into the main building blocks of a blockchain and how transactions are sequenced

1. Blocks:

Imagine each block as page in the record book. It contains a bunch of transactions kind of like entries on a page in your checkbook. These transactions could be anything from sending money to someone like when you transfer money to a friend using a payment app or even more complex things like buying and selling digital assets.

2. Transactions:

These are the actual actions or records of what's happening. For example if you send $10 to your friend that a transaction. If someone buy a digital artwork online using cryptocurrency that another transaction. Each transaction gets recorded in the block.

3. Consensus Mechanism:

This is like the rulebook or the way everyone agrees on what valid and what not. Different blockchain have different way of doing this. For instance some blockchain use something called Proofs of Work where miner solve puzles to validate transactions and add them to the blockchain. other might use Proof of Stake where validators are chosens based on how much cryptocurrency they hold.

drow in flow chart

Now lets talk about how transactions get sequenced or ordered in a blockchain

1. Transaction Creation:

Whenever someone wants to make a transaction like sending money or buying something they create digital message that says what they want to do. This is like filling out a form before you make a payment online.

2. Transaction Propagation:

Once the transaction is created its send out to all the computers or nodes in the blockchain networks. Its like sending out invitation to a party to all your friend.

3. Transaction Verification:

Every node in the network checks the transaction to make sure its valid. They look at things like whether you have enough money to make the transaction and if your digital signature matches. Its kind of like having multiple people double checking your work to make sure everything is correct.

4. Inclusion in a Block:

Valid transactions are then grouped together into a block. Think of it like batch of transactions being added to the record book. Miners or validators compete to be the ones to add this block to the blockchain.

5. Consensus:

The network needs to agree on which block to add next. This is done through the consensus mechanism we talked about earlier. Once there agreement the block is added to the blockchain and the transactions inside it are officially recorded. Its like everyone coming together and saying "Yep this looks good!"

6. Block Confirmation:

Once a block is added to the blockchain its considered confirmed. Its like sealing the deal. Subsequent blocks are added on top of it creating chain of blocks which is where the term blockchain comes from.

Understanding the Blockchain Sequencer Journey

let me walk you through how the Steem blockchain sequencer work Think of it as me sharing my experience of how transactions are processed and recorded on our platform.

Transaction Submission:

We are constantly engaging on Steemit whether its posting content commenting on others posts or transferring tokens. Each of these actions is like transaction and we submit them to the Steem network.

Transaction Pool:

Once we submit our transactions they hang out in what known as the transaction pool. It's like a waiting room where our action queue up waiting for their turn to be Processed.

Sequencing Algorithm:

Now here where the magic happens. The sequencer step in acting like our personal traffic director. It uses smart algorithm to decide which transactions should be processed first considering factors like transaction fee and timestamp.

drow in flow chart

Consensus Protocol (Delegated Proof of Stake DPoS):

The Steem blockchain uses DPoS which mean we have a group of elected witnesses who validate transactions and create new blocks. We the community vote for these witnesses to represent us.

Witness Selection:

We play crucial role in selecting these witnesses by casting our votes for our preferred candidates. Once elected these witnesses become responsible for validating transactions and adding them to the blockchain.

Block Production:

With our elected witnesses in place they work together to create blocks containing validated transactions. It's like they are ensuring the smooth flow of our interaction on Steemit.

Block Validation:

Once a block is created it undergoes validation by other nodes in the network. They check to make sure our transactions are legitimate and follow the rules of the platform.

Consensus Agreement:

If the majority of nodes agree that the block is valid its added to the blockchain. This process ensures that we are all on the same page about the validity of our actions on Steemit.

So as Steemit users we are part of this incredible process of creating validating and recording transactions on the Steem blockchain. Its like we are contributing to the smooth functioning of our own community driven platform.

A Users Guide to Understanding Transaction Sequencing

1. Proof of Work (PoW):

• In PoW miners compete to solve complex mathematicals puzzles to validate transactions and create new block.
• The first miner to solve the puzzles get to adds the next block to the blockchains.
• Transaction sequencing is indirectly influenced by PoW miners include transactions in the block they are trying to solve based on transaction fees or other Criteria.

2. Proof of Stake (PoS):

• PoS selects validators to creates new blocks based on the amount of cryptocurrency they hold and are willing to 'Stake' collateral.
• Validators are chosen in a deterministic manner with those holding more cryptocurrency having higher chance of being selected.
• Transaction sequencing in PoS is typically more predictable validators have known order in Which they will propose block.

3. Delegated Proof of Stake (DPoS):

• DPoS is a variation of PoS where token holders votes for limited number of delegates to validate transactions and produce blocks on their behalf.
• The elected delegates or witnesses take turn creating blocks in predetermined order.
• Transaction sequencing in DPoS is controlled by the elected witneses who prioritize transactions based on various factor such as fees or timestamps.

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4. Proof of Authority (PoA):

• PoA relies on a limited number of approved validators known as authorities to validate transactions and create new blocks.
• Authorities are typically trusted entities or individuals chosen by the blockchain network organizers.
• Transaction sequencing in PoA is controlled by the authorities who may prioritize transactions based on Specific criteria or rules.

5. Proof of Burn (PoB):

• PoB requires users to 'burn' or destroy cryptocurrency tokens to earn the right to validate transactions and Create new block.
• The more tokens a user burn the greater their influence in the consensus process.
• Transaction sequencing in PoB may be influenced by the burn rate or Amount of tokens destroyed by Participants.

Understanding the Essential Roles of Nodes in Blockchain Transaction Sequencing

1. Full Nodes:

• My View: Full nodes are like the backbone of the blockchain. They have complete copy of all transaction ever made on the blockchain.
• Example: Its like having detailed record book of every transactions in town. Full nodes make sure everything in order and follow the rule.

drow in flow chart

2. Light Nodes (or SPV Nodes):

• My View: Light nodes are like the 'lite version of full nodes. They dont store all transactions but rely on full nodes for information when needed.
• Example: Think of light nodes as people who don't carry heavy bag but instead ask others for directions when they need to find something. They trust others to have the information they needs.

3. Mining Nodes:

• My View: Mining nodes are the ones trying to solve puzzles to create new block and add them to the blockchain.
• Example: Imagine a contest where people compete to solve Puzzles. The first one to solve it gets to add a new page to the town record book (the blockchain) with bunch of transaction listed on it.

4. Validator Nodes:

• My View: Validator nodes are like judges in competition. They check if transactions are valid and propose new blocks to be added to the blockchain.
• Example: Just like judge ensuring that contestant follow the rules in a game validator nodes make sure transaction meet all the requirement before adding them to the blockchain.

5. Listening Nodes:

• My View: Listening nodes are like information carriers. They passively listen to what happening in the network and share important update with other.
• Example: Think of listening nodes messengers who deliver news from one part of town to another. They ensure everyone stay informed about what going on.

6. Archive Nodes:

• My View: Archive nodes are like historians. They keep complete history of all transaction and blocks ever created on the blockchain.
• Example: Picture archive nodes as the town library storing old records and documents. They help us look back and understand how things have evolved over time.

Different types of nodes in the blockchain network have their own roles to play ensuring transactions are process verified and recorded accurately. Together they maintain the integrity and reliability of the blockchain justs like how everyone in town work together to keep things running smoothly

Decentralization and Governance: Keys to Steem's Success

1. Decentralization:

• From My View: Decentralization means power isn't in the hands of just a few. It's about sharing control among many user making sure no one has too much influence.
• Example: Picture big potluck where Everyone bring something to Share. Decentralization on Steem is like that with lots of people contributing to decision and no one person calling all the shot.

2. Governance:

• From My View: Governance is about how we make decisions and keep things running smoothly on Steem. It's like having rules and processes in place so everyone knows what's going on and has a say.
• Example: Think of governance as the steering wheel of a car. It helps us navigate and stay on course. On Steem governance lets us propose changes vote on them and make sure everything fair and transparent.

Impact of Steem Governance Structure on Transaction Sequencing and Network Security

Now let see how our governance structure affect how transactions are sequenced and keeps our network safe

1. Transaction Sequencing:

• From My View: On Steem the order of transactions is decided by elected witnesses. These witnesses are chosen by us through voting and they make sure transactions are processed fairly and efficiently.
• Example: Imagine you're part of team organizing a school event. Each member has a role like deciding the order of activities. Witnesses on Steem do something similar prioritizing transactions based on what best for the community.

2. Network Security:

• From My View: Our governance structure helps keep our network secure by making sure power isn't concentrated in one place. Everyone has a say in decisions making it harder for anyone to take advantage.
• Example: Think of network security like guarding a treasure. Instead of one big lock we have lots of smaller ones each with its own key. This way if one lock fails the others keep our treasure safe. Similarly on Steem our decentralized governance makes it tough for anyone to harm our network.

Practical Example: Witness Elections

Lets look at how this works in action with witness elections. We all vote to choose witnesses we trust to validate transactions and keep our network secure. These witnesses play a vital role in deciding which transactions come first based on what best for the community. Its like having guardians watching over our town making sure everything run smoothly and fairly