What is blockade technology in simple words

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Recently, Internet users have increasingly faced a new term - "blocking technology." He doesn’t say anything to many, and only a few are familiar with this concept. It is especially known to miners who are engaged in the extraction of cryptocurrency. In translation, blockchain means "chain of blocks," but what is blockade in simple terms? Where is this technology used, how does it work and what are its advantages? This is to be found in this article.

What is a blockchain?

In simple terms, the blockchain is a distributed database in which storage devices are not connected to a common server. This database stores a chain of ordered records that is constantly growing. These records are called blocks. Each record (block) has a link to the previous one and a time stamp.

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Due to encryption, users are able to change only those parts of the chain of blocks that "own".In other words, they have private keys that are needed to write to the file. In addition, the encoding is a guarantee of synchronization of copies of a distributed chain of blocks for each user.

Simple example
To better understand the blockchain technology, it is worth explaining its essence with even simpler words. For this, one can cite as an example a digital medical history. Record in it is compared with the block. In the record of the medical history, as well as the block on the technology of blockade, there is time and date of application. It is not possible to change this entry, as this is prohibited by law. Dates of diagnosis, treatment and other things should exactly correspond to the real data. The person who makes them, that is, the doctor, has access to the records of the medical history. In addition, they are available to the patient.

The situation is the same in the distributive database of blocking data. The creator and the user who has the secret key have access to the block from the chain. Thus, it can be said that a technology very similar to a block system is used even in a medical database.

How does blockchain technology work?

Quite often, the technology of blockades is called "Internet of values" and many consider it a good metaphor. Any user can post information online.

Internet, and another person find it and read it. That is, any user has access to this or that information, and anywhere in the world.

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Thanks to the chain of blocks, you can send a file from the blockchain system anywhere. To access the block, you need a private key, which is created using a cryptographic algorithm. If you transfer this key to another person, in essence, money is deposited in a certain part of the chain of blocks.

If we consider the blockchain technology from the point of view of mining cryptocurrency, the secret key is used to gain access to the addresses where the bitcoins are stored. Due to this, the function of registering the transfer of funds is carried out, which is entrusted to banks in transactions with ordinary electronic currency.

Also with the help of the blockchain technology it is possible to carry out another quite important function, which is to establish trust relationships and confirm the identity of the person. The point is that no one has the right to change the chain of blocks without specific keys. Of course, they can be stolen, but you can protect several lines of code in a computer without significant costs.

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Which one can finally conclude about the work of the blockchain technology? The main functions entrusted to banking organizations (checking personal data of the client and registering transactions) carry out a chain of blocks on a computer more accurately and quickly.

Merits

If we consider the features of the blockchain technology when working at a computer, we can conclude that it has a number of advantages, among which are the following:

  1. Lack of a central server - the database is divided into all participants, which means the complexity of its hacking, and if this happens, other copies will instantly refuse changes made in one or several copies.
  2. Each user has a full copy of the database, which contains the entire chain of operations in coded form.
  3. Each user can track any operations performed with data using the blockchain technology - the system is completely transparent.
  4. The data in the database, which is organized according to the blockchain technology, is added in the form of new blocks, and the decision to add them is agreed with the users - if we take the mining (mining) of bitcoins as an example, the new cryptocurrency unit (new block of the chain) is checked by other miners, and then only added to the database.
  5. If attempts are made to illegally make changes to the database, which is based on the blockchain technology, they will be stopped after comparison with copies (they are kept by other users of the system).

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It is worth noting that it is almost impossible to hack or forge a database created using the blockchain technology. And in this the merit of decentralization and copying information a huge number of times.

On a note! In this distributed blockchain database is similar to DNA in the cells of the human body. There are many elements of the chain, each link carries full information, and failures in individual copies are easily detected and eliminated.

Blockchain usage examples

The distribution database created using the blockchain technology was initially compared with the banking system. Thus, developments with its use are used, as a rule, in the field of financial accounting.

In addition, there is an application that creates digital publications, confirming the authenticity and authorship. Quite often, systems for online voting are based on the blockchain technology. Blockchain is also used to create many social networks.

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In operations where precious metals are involved, blockchain technology also finds its application. In addition, it is used in the energy sector to regulate and control the supply chain. This database is considered to be convenient and easy to use; therefore, they want to incorporate it into the public administration and healthcare of many countries in order to simplify various bureaucratic procedures.

In some cities of Russia, several companies are developing software blockchain technology.

Of course, the blockchain technology is relatively new, so it causes a lot of controversy. Immediately after the advent of this technology, there were many of its opponents and supporters. Although some users found flaws in the blockchain technology, they cannot but agree that this is an important invention over the past few decades. Such technological innovation is quite capable of completely changing the financial sphere, as well as other areas of human life.

Blokchein and bitcoin

Cryptocurrency can not be called ordinary money. Rather, it is an analogue of gold, only on the Internet. The most common type of cryptocurrency is Bitcoin. Users get cryptocurrency by mining, that is, mining on the Internet. But it is not so easy. Miners should equip your computer with everything you need, purchase powerful equipment, which will have to spend a lot of real money.

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What is the connection between bitcoin and blockade? The fact is that this cryptocurrency is a product created on the basis of this technology. Bitcoin mining is carried out by searching and decrypting the block of the chain.

Some believe that the cryptocurrency is a testing ground for the blockchain. In this case, it doesn't matter what happens next with bitcoin. It is a “bubble”, with the technical side of which everything is in order. And if it bursts, the reason will not be in the flaws of the blockchain technology, but in a completely different one.

Examples of the work of the blockchain in a bitcoin system are as follows:

  • transactions are signed in blocks;
  • new blocks are periodically added in accordance with a specific algorithm — to release a new bitcoin (block), it is necessary to find a hash;
  • Miners can generate a huge number of operations per second;
  • the operation is confirmed only after the new blocks appear.

Other types of cryptocurrency are created on the same base.This technology could be used even if virtual digital coins are recognized by the state. If this happens, not now, but in the future. And today we only have to observe what will happen to the cryptocurrency. It is worth noting that bitcoin is harder to get every year, so miners are thinking about starting another kind of digital money.

Video about blockchain technology in simple language

For systems where there is a possibility of fraud and it is required to save information, the blockchain fits perfectly. In addition, this technology is ideal for all that spend large sums of money. It is in the security, reliability and security are its main advantages.

Of course, it's quite difficult to tell in plain language about what blockhouse technology is. Given terms unfamiliar to a simple user, it's not easy to understand. Perhaps the essence of the blockchain technology will become more understandable if you watch a video about the blockchain technology.



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