What is Blockchain Technology And How Does it Work?

Block and chain, as the word suggests, a series made of blocks! So we determine what are these blocks. Blocks are a kind of database! People who work with computers know databases adequately! And for those who do not know, as we say in simple language, then your database is known as Collection of Data! Data, nothing else, whatever information you type on your computer, that facts are stored inside electronic form in the computer! Similarly, every information on the Internet is a form of data! And this is a collection of data database! This database is held in the computer so that it can be easily searched. In blocks, the database is collected in groups this also group is named blocks. Each block includes a limited space or capability to collect the database! And every time a block is entirely filled while using database, it's automatically linked to the next block! In this way one block gets attached to another block! And there's a series! This is what is termed the chain of blocks, that is, the blockchain! What would be the elements of Blockchain? There are three kinds of elements in a very blockchain- Data stored in blocks Hash (Transition Hash) generated from that transition Hash.(Previous Hash) with the first block related to that block Note – The first block in the blockchain is called the Genesis Block! What are nodes in blockchain? The computers where blockchain info is stored! They are called nodes and all sorts of the nodes that are connected to the blockchain possess a copy from the blockchain! Which updates every 10 minutes! With the help of these nodes, it could be found out using a Hash make sure that there has been no alternation in it. If all of the transitions in the blockchain are approved by the nodes, that's, the proof work is approved, they are developed in blocks! With the help of nodes, the data with the blockchain is stored, spread and preserved. A copy of every transition made inside blockchain on each from the nodes is updated every 10-10 minutes! That's why it can be considered safe! How does blockchain process? Each block features a cryptographic hash with the previous block which can be generated on every transition made in the blockchain! Hash is often a string of numbers and letters. That is, Hash is a mathematical function that encrypts the input data to the output of a hard and fast length. So, whatever the size with the input data, the Encrypted Unique Hash is usually of a hard and fast size! And at the same time it is also linked to the Hash made out of the previous block's transition! Why is blockchain technology considered secure? If someone would like to edit the database of this Blockchain Technology, another new hash is generated! Due to which the setting of all after blocks is changed and it's easy to know the location where the setting may be changed! So no-one can tamper with the info on this blockchain! Now if you realize that you have to make some changes in the block chain, then you've got to show the proof of work, that is, for whatever changes you're going to make, all the computers (Nodes) connected to the blockchain need to make this change. The information should be sent and just if the majority in the computers approve, you'll be able to change it! Where can blockchain technology be used in the future? In preventing corruption Yes, corruption may be prevented by using blockchain technology because whatever database is saved in the blockchain is copied on every nodes if anyone would like to change your data then everyone else will know about this! In maintaining government records The using blockchain technology in government offices can be very secure. Anyone whose name is held in the database cannot be easily changed while exchanging properties using Blockchain technology! Due to which any disputes regarding properties arrive down. Patient record keeping inside hospital If each of the information in connection with patients is kept in the blockchain, then it will be correct and anyone is going to be able to can get on. In virtual currency | In Cryptocurrency People previously started investing inside the cryptocurrency you're seeing in the online market like bitcoin, ethereum, dogecoin etc and this currency keeps growing faster than gold! One advantage of the is that it's decentralized i.e. it doesn't require any middleman like in the ordinary currency we use, we must use banks to transfer money from place to another! And they also charge some fees with this, banks will never be needed within the transition to Cryptocurrency! And you will be able to transact with crypto currency anywhere within the world!