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How To Create a PoW Blockchain Network

Blog post from Chainlink

Post Details
Company
Date Published
Author
Solange Gueiros
Word Count
1,859
Language
English
Hacker News Points
-
Summary

The tutorial provides a comprehensive guide on setting up a private blockchain network using Geth, the Go language implementation of Ethereum. It explains the installation process of Geth and how to check its installation, emphasizes the importance of specifying parameters to avoid defaulting to the Ethereum mainnet, and discusses the use of consensus algorithms, like proof-of-work (PoW) and proof-of-authority (PoA), for private networks. The tutorial walks through creating a blockchain network with two nodes on the same computer, detailing steps like generating a genesis block, initializing nodes, and creating accounts. It also covers connecting nodes using enodes and verifying network connections, along with commands for managing accounts and checking balances. The tutorial highlights the process of mining to create new blocks and the importance of using different computers to avoid mining competition, concluding with suggestions for further exploration of blockchain capabilities like transferring tokens and deploying smart contracts on the private network.