Date: 5 months ago   Category: Economy

Alphabet of blockchain

We explain a blockchain on technology basis fingers, than the public blockchain differs from private and also why you shouldn't confuse a blockchain with the distributed register. the blockchain Is explained to

on technology basis fingers, than the public blockchain differs from private and also why you shouldn't confuse a blockchain with the distributed register.

the Blockchain (a chain of blocks) is a technology according to which a certain database is distributed in network in the form of the blocks following one after another which any participant of network can look through or add, but can't change or remove. The technology a blockchain is also technology which is the cornerstone of Bitcoin cryptocurrency, most known in the world.

the Blockchain has conquered the world of IT, allowing the enterprises it is safe to store information in the distributed database and to update it in real time. This technology allows to carry out financial transactions with Bitcoin (for which she also has been thought initially up) and many other operations which safety is ensured by distribution of data in network.

the Blockchain is a public register in which data are stored, and updates are displayed in each his copy in real time therefore information is always relevant. These data are available to any user at any time, however they aren't stored in one place (that is - there is no main storage), and hackers can't steal or damage the basis for data.

Originally developed for digital currencies, begin to use a blockchain now in the most different spheres in which safety of technology with a possibility of updates in real time is important.

New options of use

the Blockchain has been for the first time developed in 2008 by anonymous group or the certain user Satoshi Nakamoto. Whether nobody actually knows who this person / group and the real this name.

the Blockchain has been developed to avoid use of the same digital token several times, that is double expenditure which became a serious problem in the industry of digital currencies. The blockchain has also given an opportunity to decentralization of cryptocurrency that the government and other authorities hadn't to regulate it or to control, doing cryptocurrency by absolutely free world currency.

a blockchain have become interested over time in technology not only cryptocurrency to enthusiasts as the idea to have the public register which belongs to nobody provides considerable advantages to any enterprises. First, it is safe because nobody owns the initial file, secondly it can be updated without breaking threat. It means that any confidential data, personal information, medical information and insurance records, can be stored in the safe place.

Generation of
the Blockchain consists of blocks of the data connected in a chain. The chain cryptographic is protected and distributed between those who want to change or add elements by means of network. On a measure



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