So can a blockchain can be shutdown by shutting down power supply across the globe? What would happen in such a case?
If the world's power supply was suddenly cut off, then everything electronic would stop working. The blockchain would be 'frozen', each node would retain its local copy, but be unable to communicate with other nodes, and miners would be unable to mine and add new blocks.
I think the transactions that were not added to the ledger would definitely be lost and they would have to be reinitiated.
This depends on what happens to the mempool of each node. If any nodes remembered any unconfirmed transactions from before the power loss, they could simply broadcast those transactions to the network once things went back online.
I think power shutdown would create inconsistency between different instances of the ledger at different nodes and even if the power is back we wouldn't be able to pick a safe state of the ledger.
Each individual node, once it came back online, would reconnect to some peers in the network, and listen for information about new blocks, just like normal. The decision about which chain to follow would also be made as per normal: which chain has the most work? Follow that one. If there are multiple choices for a most-work chain, then the decision about which one to follow will be made when the node hears about a new block, which extends one of those chains (the other chain will become 'stale', and will not be a part of the blockchain history).
What are the possible ways to shutdown a blockchain without having to go to each and every node and taking it down?
This is a strength of the bitcoin network: it is a decentralized network of computers, without any real hierarchy or centralized control. You would have to attack every node, otherwise the un-attacked nodes will be able to maintain the network. Given the highly distributed and anonymous nature of the network, this seems to be an extremely difficult task.
I'm voting to close this question as off-topic because it's about blockchains in general and only bitcoin questions are on-topic here. – David Schwartz – 2019-10-19T19:17:46.983
@David Schwartz I know. But this is the most closest stack I found related to blockchains. Do you know a stack site for asking blockchain based questions in general? Is it better to post blockchain based questions on CS Stack Exchange? – Deep Bodra – 2019-10-19T19:54:47.767
@DeepBodra see the help centre: https://bitcoin.stackexchange.com/help/on-topic . On-topic subjects include questions about: "technologies or events that are applicable and relevant to the Bitcoin network and users of the Bitcoin currency in the past, present, or future". This question is arguably relevant to the Bitcoin network, and with a small edit it could easily be made more explicitly BTC-related -- but I still think it is reasonably fine as in.
– chytrik – 2019-10-19T21:26:28.083@chytrik Unfortunately, what's happening is that it's getting bitcoin-specific answers that are not marked as bitcoin-specific and that's causing people to learn things that are actually wrong. This kind of question degrades the value of the site to future visitors. The alternatives seem to be changing the question to something the original poster didn't ask or closing it. – David Schwartz – 2019-10-19T22:46:00.727
@DeepBodra Unfortunately, I don't have an answer for you. This site recently changed from being blockchain in general to being bitcoin specific and it's made the site much less educational and lead to it having a massive amount of content that's just wrong. (Because it's not clear whether it's bitcoin specific or not.) – David Schwartz – 2019-10-19T22:47:13.280
@DavidSchwartz I have noticed this as well, I think on some level this could have been expected to happen for at least some amount of time as the new site rules become more well understood. In this specific case, I think editing the question slightly will be most beneficial, it is a basic question that may benefit others to read. Perhaps OP is looking for a generalized answer, but 'blockchain' has become such a generalized marketing term at this point, such that it is probably almost impossible to write a legitimately comprehensive answer to cover all cases of 'blockchain tech'. – chytrik – 2019-10-21T21:37:04.340
1@chytrik I don't think it would not have been that difficult to produce a high-quality answer that explains, fundamentally, why blockchains are difficult to shut down without going into the specifics any particular blockchain. But instead, we get one that blurs attributes of bitcoin with attributes of blockchains. Hopefully, the changes to the question will reduce the risk of confusion. – David Schwartz – 2019-10-22T00:51:45.643