Topic: What is Blockchain ? (Read 385 times)
Blockchain is a hierarchical database that stores information in information blocks that are interconnected and expand over time. Each information block contains information about the time it was initialized and linked to the previous block, so this database is called a block of data. Blockchain is designed to resist data changes: Once the data has been recorded there is no way to change it.
Blockchain is a hierarchical database that stores information in information blocks that are interconnected and expand over time. Each information block contains information about the time it was initialized and linked to the previous block, so this database is called a block of data. Blockchain is designed to resist data changes: Once the data has been recorded there is no way to change it.
Blockchain is assured by its design using a hierarchical computing system with high byzantine fault tolerance. Thus, decentralized consensus can be achieved through Blockchain. Therefore Blockchain is suitable for recording events, medical records, transaction processing, notarization, identity and proof of origin. This has the potential to help eradicate the consequences of data change in the context of global trade.
The first blockchain was invented and designed by Satoshi Nakamoto in 2008 and was realized the following year as a core part of Bitcoin, as blockchain technology acts as a ledger for all. Through the use of peer networks and a hierarchical data system, Bitcoin blockchain is managed automatically. The invention of the blockchain for Bitcoin made it the first digital currency to solve the problem of doubling spending. This Bitcoin technology has become a source of inspiration for a variety of other applications and that's what I know about blockchain
Blockchain is assured by its design using a hierarchical computing system with high byzantine fault tolerance. Thus, decentralized consensus can be achieved through Blockchain. Therefore Blockchain is suitable for recording events, medical records, transaction processing, notarization, identity and proof of origin. This has the potential to help eradicate the consequences of data change in the context of global trade.
The first blockchain was invented and designed by Satoshi Nakamoto in 2008 and was realized the following year as a core part of Bitcoin, as blockchain technology acts as a ledger for all. Through the use of peer networks and a hierarchical data system, Bitcoin blockchain is managed automatically. The invention of the blockchain for Bitcoin made it the first digital currency to solve the problem of doubling spending. This Bitcoin technology has become a source of inspiration for a variety of other applications and that's what I know about blockchain
Blockchain is a hierarchical database that stores information in information blocks that are interconnected and expand over time. Through the use of peer networks and a hierarchical data system, Bitcoin blockchain is managed automatically.
I just want to briefly share the meaning of Blockchain technology for the benefit of my fellow forum members. This will be in simple and clear terms without ambiguous writing.
Read below
Blockchain is a comprehensive, up-to-date (real-time) ledger of anything that can be recorded from financial transactions to ownership of physical assets stored in a distributed, peer-to-peer fashion. Every record is encrypted and time stamped. Only users can edit the part of the blockchain that they “own” and they gain access to the file only because they have a private key that allows them to. It also ensures that everyone’s copy of the distributed blockchain is kept in sync.
There are many different blockchains—public and private—and they allow anyone to send value anywhere in the world where the blockchain file can be accessed.
Blockchain technology has solid and effective security and has been described as “hackproof.” Unfortunately, nothing really is fully hackproof, but blockchain technology is more secure than our current technology and should reduce the risk of breaches.
Thanks for your time.
Read below
Blockchain is a comprehensive, up-to-date (real-time) ledger of anything that can be recorded from financial transactions to ownership of physical assets stored in a distributed, peer-to-peer fashion. Every record is encrypted and time stamped. Only users can edit the part of the blockchain that they “own” and they gain access to the file only because they have a private key that allows them to. It also ensures that everyone’s copy of the distributed blockchain is kept in sync.
There are many different blockchains—public and private—and they allow anyone to send value anywhere in the world where the blockchain file can be accessed.
Blockchain technology has solid and effective security and has been described as “hackproof.” Unfortunately, nothing really is fully hackproof, but blockchain technology is more secure than our current technology and should reduce the risk of breaches.
Thanks for your time.
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