Blockchain

What is a blockchain?

Cryptocurrencies such as Bitcoin et Ethereum functioning avec unites blockchain technology. Basically, a blockchain is a list of transactions that anyone can review. For example, the Bitcoin blockchain contains a record every time someone has sent or received Bitcoin. Cryptocurrencies and the blockchain technology that powers them make it possible to transfer values ​​online without the need for an intermediary such as a bank or credit card company.



How does it work

Here is an example of how blockchain is used to verify and record Bitcoin transactions.

A consummator who sells bitcoins.

The transaction data is sent through Bitcoin's decentralized node network.

The nodes validate the transaction.

Once approved, the transaction is grouped with other transactions in a block that adds to an ever-growing chain of transactions.

The entire block is encrypted and the transaction record is permanent; it cannot be deleted or changed on the blockchain.

The Bitcoin blockchain is public, which means that anyone who owns Bitcoin can view the transaction log. While it can be difficult to trace the identity behind an account, the log shows which accounts are transacting on the blockchain. Public blockchains also allow any user with the necessary computing power to participate as a node in the approval and recording of transactions in the blockchain.


But not all blockchains are public. Blockchains can be designed as private ledgers so that an owner can restrict who can make changes or additions to the blockchain. While the group of participants in a private blockchain may be smaller, it is still decentralized among participants. Private blockchains guarantee the security of all data stored in the database using the same encryption methods.


The idea of ​​a decentralized permanent information register and secure has sparked interest in various industries and potentially offers solutions to many of the security concerns, record-keeping processes, and ho data ownership issues that we face Read More...

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