MI_COIN_LEDGER

Inspiration

Thia project is inspired by the BUCC Hackathon and the drive to understand how the most revolutionary financial system works.

What it does

This project simulates the fundamental properties of a deFi system or the distributed ledger system called block chain. It provides security and prevents financial fraud.

How we built it

This project is built in Python

Challenges we ran into

I ran into some challenges such as:

1. How to implement an algorithm to pay the miner on the block chain for their job.
2. How to implement an algorithm to restore the block chain to stability when a potential fraud is detected.

Accomplishments that we're proud of

I am happy that I was a ble to reach a fair compromise on the algorithm that pays the miner. I have been able to pay the miner for each successful transaction but I can only accomodate one miner at the moment on this block chain

What we learned

I learnt a lot about how block chains work under the hood, how security is maintained on them, hoe transactions are processed etc. This project also challenge me to study more on OOP in Python

What's next for MI_COIN_LEDGER

I hope to be able to fix the issue of a system restore on the block chain in the future and also accomodate more miners.

Built With

• python