Nion Blockchain

Overview

This blockchain system is a decentralized and transparent digital ledger of transactions managed by a distributed network of computers. Each computer, or node, in the network participates in the verification of transactions and helps maintain the integrity and security of the blockchain. This implementation includes a mining pool system, wallet management, and transaction verification features.

Key Features

1. Genesis Block:

   • The blockchain begins with a genesis block, which serves as the foundation of the chain. This block contains default data and marks the start of the blockchain.

2. Wallet Management:

   • Wallet Creation: Users can create new wallets, each containing a unique public-private key pair generated using elliptic curve cryptography (ecdsa).
   • Persistent Storage: Wallets are stored in a JSON file (wallets.json) to ensure data persistence across server restarts.
   • Balance Management: Each wallet maintains its balance, and transactions update wallet balances accordingly.

3. Transaction Handling:

   • Creating Transactions: Users can create transactions specifying the sender, receiver, amount, and private key for signing.
   • Signature Verification: Each transaction is signed by the sender's private key and verified by the receiver's public key, ensuring authenticity and integrity.
   • Cents to Dollars Conversion: The system ensures that fractional amounts are converted into dollar amounts for consistency in transactions.

4. Mining Process:

   • Proof of Work: The mining process involves solving a cryptographic puzzle using the proof of work (PoW) algorithm.
   • Mining Pool: The implementation supports a mining pool where multiple miners collaborate to solve the PoW. When a block is mined successfully, rewards are distributed equally among all miners in the pool.
   • Reward Distribution: The reward for mining is taken from a designated wallet ('0'), and 1 unit of fund is divided equally among the miners.

5. Blockchain Integrity:

   • Block Validation: Each new block is validated by ensuring it contains the correct index, previous hash, and valid hash.
   • Chain Continuity: The blockchain maintains continuity by ensuring that each new block points back to the previous block, forming an unbroken chain.

6. API Endpoints:

   • New Wallet Endpoint: Creates a new wallet and returns the wallet address and private key.
   • New Transaction Endpoint: Creates a new transaction based on the provided sender, receiver, amount, and private key.
   • Register Miner Endpoint: Registers a miner in the mining pool.
   • Mine Block Endpoint: Initiates the mining process for pending transactions.
   • Full Chain Endpoint: Retrieves the entire blockchain for inspection.
   • Wallet Balance Endpoint: Retrieves the balance of a specified wallet.

This repository also comes with an API wrapper if you want to create your own wallet.

Usage

To interact with the blockchain, users can make requests to the various endpoints to create wallets, submit transactions, register miners, mine blocks, and query the blockchain.