Board Name Topics Posts Last Post
News and Information
What's new?
0 0No recently created posts.
How blockchain works
Who's who in the blockchain and how does it work We will try to decipher who participates in the blockchain and how its technology works. The blockchain, as the name implies, is a chain of blocks. Each of these blocks contains the encoded information of a transaction on the network. Before we did the analogy of the book, where we noted, for example, that A came out and entered B. Well, blockchain behaves the same, but it will be the network of distributed nodes who have to certify that such data are true How do they do? Each block of the chain carries the transaction packet and two codes, one indicating which block precedes it (except the source block, of course), and another for the block that follows it, that is, they are interlaced or chained So they are called codes or hash pointers. Now the concept of mining that the nodes perform, that is, the process of validation of the information comes into play. In this process of mining or verification, when there are two blocks that point to the same previous block, it simply wins the first one to be decrypted by most nodes, that is, that most points in the network must agree to validate information. Therefore, although blockchain generates multiple block chains, the longest block chain will always be legitimized. What is the future of the blockchain? The experts compare the arrival of the blockchain with milestones such as the integration of computers in the domestic use or the development of the Internet, that is, a system that will change the way we understand business and society. One of its greatest potential lies in the so-called smart contracts, that is, with blockchain technology agreements and transactions can be made confidently without revealing confidential information between the two parties and without the need for "arbitrators", as Payments to distributors or, for example, renting a car online. But not only this, based on the same concept, blockchain will be essential for the Internet of things. Our electronic devices can communicate with each other in a safe and transparent way, and soon we will see our refrigerator buying yogurts in the supermarket online as soon as it detects that they are finished. The administration will have an unparalleled advantage with this system of cryptography. Issues such as electronic voting that, despite attempts made with other technologies, have not resisted hacking, now could be a viable option for voters with the assurance that their identity will not be supplanted and the comfort of not having To travel to the polling station. Currently, there are many projects under investigation to implement the blockchain as a structure to support them, so we will soon see if it really becomes the technology of the future.
0 0No recently created posts.
Member Introduction
New here? Introduce yourself to the community.
0 0No recently created posts.
Member Chat
Let's discuss and chat here.
0 0No recently created posts.
Made something recently? Share it with us.
1 0by admin in What is the blockchain