Block and chain, because the word suggests, a chain made of blocks! So we know very well what are these blocks. Blocks can be a kind of database! People who focus on computers know databases adequately! And for people who do not know, when we say in simple language, then a database is named Collection of Data! Data, little else, whatever information you type on the computer, that facts are stored inside electronic form inside computer! Similarly, every facts about the Internet is a sort of data! And this is often a collection of data database! This database is kept in the computer such that it can be easily searched.

In blocks, the database is collected in groups which group is known as blocks. Each block carries a limited space or ability to collect the database! And each time a block is completely filled using the database, it really is automatically linked to the next block! In this way one block gets attached with another block! And there’s a sequence! This is what is named the chain of blocks, that’s, the blockchain!

What would be the elements of Blockchain?

There are three types of elements in the blockchain-

Data saved in blocks

Hash (Transition Hash) generated from that transition

Hash.(Previous Hash) in the first block related to that block

Note – The first block inside the blockchain is named the Genesis Block!

What are nodes in blockchain?

The computers on what blockchain data is stored! They are called nodes and many types of the nodes which are connected to the blockchain have a very copy in the blockchain! Which updates every 10 minutes! With the help of these nodes, it is usually found out with a Hash check that there has become no difference in it. If all of the transitions inside the blockchain are authorized by the nodes, which is, the evidence of work is approved, then they are developed in blocks! With the help of nodes, the data of the blockchain is stored, spread and preserved. A copy of the transition made inside the blockchain on each of the nodes is updated every 10-ten mins! That’s why it is considered safe!

How does blockchain process?

Each block features a cryptographic hash from the previous block which can be generated on every transition made inside the blockchain! Hash is often a string of numbers and letters. That is, Hash is often a mathematical function that encrypts the input data in the output of a limited length. So, no matter what size in the input data, the Encrypted Unique Hash is usually of a hard and fast size! And at the same time it really is also from the Hash made out of the previous block’s transition!

Why is blockchain technology considered secure?

If someone desires to edit the database of this Blockchain Technology, another new hash is generated! Due to which the setting of most after blocks is changed and it really is easy to know the place that the setting has become changed! So no-one can tamper with your data on this blockchain! Now if you realize that you need to make some changes inside the block chain, then you’ve to show the proof work, that is certainly, for whatever changes you are going to make, every one of the computers (Nodes) attached to the blockchain need to make this change. The information must be sent in support of if the majority from the computers approve, then you can definitely change it!

Where can blockchain technology be used inside future?

In preventing corruption

Yes, corruption may be prevented by utilizing blockchain technology because whatever database is kept in the blockchain is copied on every nodes therefore if anyone would like to change the information then all the others will know over it!

In maintaining government records

The using blockchain technology in government offices can be very secure.

Anyone whose name is saved in the database cannot easily be changed while exchanging properties using Blockchain technology! Due to which any disputes regarding properties will come down.

Patient record keeping inside the hospital

If every one of the information related to patients is kept in the blockchain, then it will be correct and anyone will be able to hop on.

In virtual currency | In Cryptocurrency

People have started investing in the cryptocurrency you are seeing inside online market like bitcoin, ethereum, dogecoin etc and this currency keeps growing faster than gold! One advantage of the is that it is decentralized i.e. no require any middleman like within the ordinary currency we use, we must use banks to transfer money from one place to another! And they also charge some fees for this, banks will not be needed inside the transition to Cryptocurrency! And you will likely be able to transact with crypto currency anywhere inside world!