What is the blockchain? Basic concepts about technology.

What is the blockchain? Basic concepts about technology.

 

The blockchain acts as the basis for the existence of any cryptocurrency. In fact, this database network, operating on principles of decentralization, which contains all necessary information for ongoing transactions.

A feature of the blockchain is the record of data blocks that are simultaneously available to all users of the network. Such decentralization leads to amend a record, the control over all participants, is not possible.

For all units, regardless of their sizes, assumed a unity of structure. The unit thus includes a set of data about all the network changes that occurred up to the moment of its generation.

For each block characterized by the obligatory presence of:

  • Name;
  • Individual rooms;
  • Data block size;
  • Transaction counter;
  • The main body, which is inscribed in the transaction.

Given the fact that the unit exists not independently, but as part of a chain, it includes the data of the previous blocks. After he took his place in the chain, any changes made in the entered data can not be.

The use of a cryptographic encryption blocks with the mandatory consensus makes it impossible to forge the block or its substitution in the circuit.

The important point is the capacity of the unit. For example, for Bitcoin it is only 1Mb, which is one of the main limitations of the network and negativeUPE affects the speed of operations. Other networks are consistently expanding the size of the blocks, for example, recently introduced a Cash allcoin Bitcoin has a block size of 8Mb. There are other options.

Species diversity

All blackany can be divided into public and private. In the first case, access to records is granted to all users without exception, and second only to a specific person (company). The latter scheme is used at construction of corporate networks of data exchange. In some cases, to private networks is foreseen external audit, when an access view is available to all, and the right to sign only certain individuals.

There are blackany consortium, providing access to only a few companies, acting together.

 

 

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