- Posted by: admin
- Category: Blockchain
Blockchain is completely on a Open source as it is a piece of software which is designed to store all the history and records related to crypto currency. You can give it edit it or proposed changes but that should be underlined code base. The main question is how does Blockchain work? In the past but this block chain wasn’t that famous until bitcoin crypto currency has taken place.
It’s actually been around since 2008 which makes it a decade old and from there to block chain SMS. The main aim of its designing is to create application which shouldn’t require any processing service of central data as it is built with a top quality system in which you can store tons of data without any disk. It is an independent server which isn’t owned by Central service.
The way block chain works is like a laser which you can store information about the transaction of your cryptocurrency and also you can access it any time you want to. The best security of block chain is that it keeps every data or information encrypt it which means no one can easily access your own personal data as looked and can be used by every single person who is interested in crypto currency.
The encryption also uses a thing called as cryptography which helps in scramble the data which is stored in each block. It helps in securing any new blocks in data which has been created over the server I am there is one thing you should know that location is not a new technology but it has been come into the light light after the bitcoin crypto currency.
The fully understand here are some points
There are many points but only potential guns or needed to be considered in mind as those are the only one which helps in better understanding. Before discussing them some of the basics things should be discuss life block chainis really a secure way in which you can easily store your transaction and also on the other hand you can keep updating your data stored on it without any issue at all. Following are some of the points you need to keep mind:
- Ledger. If you have seen a leisure then in that you Would have noticed that the records of transactions are being kept. Just like leisure block chain works as it store the transaction of the crypto currency so that you can easily access it later on a main part is that the transactions are secured so that no one Can have access to it unless your permission is granted.
- Secured. Block chains are secured which means you do not have to worry about anything at all. If you are willing to store data on local and you can easily store it without any problem. Make sure that you are keeping everything in mind and also the data is encrypted and if you are a new block chain user then you will notice that everything is encrypted.
- Cannot be tracked.The data stored on the block chain or 2-D which ways they cannot be tracked. Also if you’re worried about hackers and you shouldn’t because today data means more security encryption. In this way you can easily store your daughter safely without an issue at all and also there is no need to think about other people who are using the same server.
- Virtual. It is virtual as you cannot touch it all you need to do is start the transaction right away via online services. Blockchain is transparent which can be used by numerous people without any issue at all but your data will be protected safely from those people.
Blockchain are favourite for miners
Miners are those people who mine the crypto currency and then trade it for anything. Their favourite software for mining is blocks in because in that they can keep the records in history so that they can easily track their own records in the future. You cannot attract other people records as you can only do it of your own. This is the algorithm that never fails for the minors which is why they always choose this.
If you are interested then make sure to go for it and do not skip any part of it as discussed above because everything is important if you are a beginner in using block chain. In this way block chain works.