Setting up a blockchain project in a node.js can be a difficult task. The term “blockchain” is often associated with ledgers, banking and cryptocurrencies. Blockchain is, very basically speaking, a record-maintaining technology behind a network. The most popular blockchain network is probably Bitcoin.
WHAT IS BLOCKCHAIN?
Blockchain is a sort of database, and databases typically consist of specific records and data. The data is recorded electronically in a computer system.
The data is stored so that it becomes easier for the users to retrieve the data and the relevant records as and when required. Moreover, the data stored in a database can be filtered and manipulated using various methods. Any number of users can manage this data.
A blockchain differs from a database in various ways. The most important thing that differentiates blockchain from databases is the structure of the stored data. A blockchain is known to gather information in the form of groups, which are known as blocks.
These blocks contain a set of information and come with a specific amount of storage size. When this capacity gets exhausted, a new block is added to the network. The newly added block takes up all the upcoming information that results from the process. This new block is then attached to the chain as it consumes its storage capacity. Thus, the statement that all blockchains are databases is accurate while vice versa is not true. As the blocks are added to the blockchain, the exact timestamp of their extension is maintained.
WHAT IS NODE.JS?
The many advantages Node.js offers are the following:
- With asynchronous event-centric programming, blocking processes are eliminated. This is said to enhance the scalability of the system.
- It allows a high performing runtime environment.
- With Node.js, the integration of data streaming becomes simple and effortless.
- Various open-source tools and modules improve the function of the ecosystem.
HOW TO SET UP A BLOCKCHAIN IN THE NODE.JS PROJECT
If the node would stop working suddenly, one can expect the loss of information. Though, this is only an issue if the node stops functioning in between a translation. Moreover, all events are stored locally on the hard drive when they are created and before their propagation through the network starts.
This is one way to survive a node shutdown, and in case there is such an event, the transactions are retrieved from the local storage we mentioned earlier. In this manner, the transaction remains safe and secure. As the node re-initiates, the transactions can be propagated through the network.
In an ideal situation, the nodes of the entire network communicate with each other. Now, there is an IP seed which happens to be a regular Node.js service. As a new node is introduced to the network, it communicates with the IP seed asking for the IP of a relevant node. This node is one of those present in the already existing network.
If this IP seed offers an IP in the response, then the new node can join and sync with the existing database and network. Subsequently, the new node to participate in the network also provides its IP to the IP seed. This introduction of new nodes is then used in the network in the future.
But if the IP seed does not present an IP in reply to the new node, the new node is set to be the root node, also known as the genesis node. Therefore, it can establish a new network. Once introduced, it communicates its IP to the IP seed.
The same mechanism is used for introducing new nodes and their interaction with the IP seed. However, this is established using DNS seeds. Once the Node.js service is live and running, it asks the IP seed for an IP of the node under the consideration. As the communication happens successfully and an IP is granted, the service gets connected to the node without delay. This node can then use the service as the database. Once the network is successfully established, whatever transaction occurs will propagate through the entire network.
This makes it simpler for other services to read the transactions in a real-time environment as soon as the information is propagated. If one wants to know whether the blockchain is set up successfully in the Node.js project, you need to test it. To verify its integrity and functionality, you need to subject the network to various tests, analyses, and metrics. Also, it becomes essential to check the performance and stability of the system.
Blockchain is the backbone of digital currencies, such as Bitcoin or Ethereum, for example. Blockchains maintain records that are growing continuously. These records are called blocks which can be connected securely to each other using cryptography. If a blockchain’s implementation and setting up in a Node.js project is carried out correctly, it can become a great success.