Topic: Bitcoin and Blockchain (Read 101 times)

Observed that there are lots of practice about money laundering and lots of under the table corruption and in this corruption lots of transaction of black money but these transaction records is adding some were in any database.
so why we not agree that these database is reliable. we see some reasons no.1 because we have not access to these database and no. 2 reasons that the admin of these database can change easily these data so this is not reliable.

But if we make system who is decentralized and the authority of these system is not one man army
and changing or modify is difficult. so we can trust easily other than other system and these kind of system is Blockchain
if we talk about Blockchain this system is introduce in 1990 but it can implement in 2009 and you know about SATOSHI NAKAMOTO namely anonymous developer make bitcoin with the help of blockchain and from that time cryptocurrency boom in world.

If we know in sample language about Blockchain lets sapos if we thing about a shop were all data maintain by the shopkeeper that what is inter and how much sell and purchase in a whole day or monthly and these all data in ledger.
Actually blockchain is an example of ledger and all single record is a single Block now it means that blockchain is chain of Blocks.
If we talk about a single block now in one block there are some data stored in these single block and
1st thing of storage is (relevant information) for example for bitcoin store transaction and all information that from incoming and outgoing.

And 2nd thing store in block is (HASH #) and we know about HASH is like a fingerprint if we inter some application with biometric. HASH same like that and in Blockchain store all data and generate unique code (HASH #).

And the 3rd one is previous (HASH #) now in previous HASH is save in next Block is save the next block so it make chain of block and in this chain the 1st block is Genesis block and we also tracked history of Blocks and these are the reasons that blockchain is very secure
and now if we talk about security of blockchain there are implement lots of layer.

Lets sapos if we want changing data in blockchain 1st if we change data the HASH is automatic changed and in all chain is missing information and all data in chain is invalid if we says that we change all blockchain HASH # it can possible but spend lots of time and thing of time is implement on Concept of proof of work and it means that you can prove that how many time spend on changing of blockchain.

And blockchain is used in many domains and most booming domain is cryptocurrency domain we take example pf bitcoin domain now bitcoin eliminate middle banks in previous session if we send money from india to US we send ropey and banks convert into us and charge some fees.
and now if we deposit then we send direct bitcoin and fees of this is very low and bitcoin send to bitcoin there is no conversion of currency.