Block and chain, because the word suggests, a chain made of blocks! So we know very well what are these blocks. Blocks really are a kind of database! People who work with computers know databases perfectly! And for people that do not know, as we say in simple language, then a database is known as Collection of Data! Data, nothing else, whatever information you type on the pc, that facts are stored within the electronic form inside computer! Similarly, every information about the Internet is a kind of data! And this is a collection of data database! This database is stored in the computer in such a way that it can be easily searched.

In blocks, the database is collected in groups and also this group is named blocks. Each block features a limited space or capability to collect the database! And each time a block is totally filled with all the database, it is automatically of this particular next block! In this way one block gets that come with another block! And there’s a sequence! This is what is called the chain of blocks, that is, the blockchain!

What will be the elements of Blockchain?

There are three types of elements inside a blockchain-

Data stored in blocks

Hash (Transition Hash) generated from that transition

Hash.(Previous Hash) from the first block related to that block

Note – The first block in the blockchain is termed the Genesis Block!

What are nodes in blockchain?

The computers which blockchain details are stored! They are called nodes and the nodes that are connected to the blockchain possess a copy from the blockchain! Which updates every ten minutes! With the help of these nodes, it could be found out using a Hash be sure there has been no change in it. If each of the transitions in the blockchain are approved by the nodes, that’s, the proof of work is approved, chances are they are developed in blocks! With the help of nodes, the data of the blockchain is stored, spread and preserved. A copy of the transition made inside blockchain on each with the nodes is updated every 10-ten mins! That’s why it really is considered safe!

How does blockchain process?

Each block features a cryptographic hash of the previous block which is generated on every transition made inside the blockchain! Hash is a string of numbers and letters. That is, Hash is really a mathematical function that encrypts the input data in to the output of a set length. So, no matter what size in the input data, the Encrypted Unique Hash is always of a fixed size! And at the same time it can be also of this particular Hash made out of the previous block’s transition!

Why is blockchain technology considered secure?

If someone really wants to edit the database on this Blockchain Technology, another new hash is generated! Due to which the setting of after blocks is changed and it’s easy to know the location where the setting continues to be changed! So no-one can tamper with the information on this blockchain! Now if you already know that you have to make some changes inside block chain, then you’ve to show the proof of work, that is certainly, for whatever changes you are likely to make, all of the computers (Nodes) coupled to the blockchain must make this change. The information needs to be sent and just if the majority in the computers approve, you’ll be able to change it!

Where can blockchain technology be used inside the future?

In preventing corruption

Yes, corruption can be prevented by using blockchain technology because whatever database is kept in the blockchain is copied on every nodes therefore if anyone wants to change the information then all others will know about this!

In maintaining government records

The utilization of blockchain technology in government offices can prove to be very secure.

Anyone whose name is kept in the database cannot often be changed while buying and selling properties using Blockchain technology! Due to which any disputes regarding properties will come down.

Patient record keeping inside hospital

If each of the information related to patients is kept in the blockchain, it will be correct and anyone will probably be able to hop on.

In virtual currency | In Cryptocurrency

People have already started investing inside the cryptocurrency you’re seeing inside the online market like bitcoin, ethereum, dogecoin etc and this currency is growing faster than gold! One advantage of this is that it really is decentralized i.e. no require any middleman like in the ordinary currency we use, we have to use banks to transfer money in one place to another! And they also charge some fees with this, banks will never be needed in the transition to Cryptocurrency! And you will likely be able to transact with crypto currency anywhere within the world!