Decoding about blockchain and the achievements of this technology

What do you know about blockchain? What jobs does it help you with? In the following article, we will learn all about blockchain together!

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1. What is Blockchain?

Blockchain (or ledger) is a database system that allows users to store and transmit blocks of information. They are linked together by encryption. These information blocks operate independently and can expand over time. They are managed by system participants and not through an intermediary.

Simply put, it is a tool that helps us save and transfer information quickly and efficiently such as gg drive, onedrive, ...

2. What is the use of blockchain in practice?

As mentioned in the definition of Blockchain, it is a tool or system that helps us to store data in the most efficient and fastest way.
- Through the encryption system, we can transmit information effectively and quickly without having to go through a third-party intermediary such as a government or a corporation.
- It helps to transmit information quickly because it does not go through any intermediary to censor or confirm the information you want to send. However, this system is absolutely secure, hacked or stolen information is recovered and because of their independent nature, they do not affect each other nor affect the system. system. This gives you complete peace of mind when sharing and sending important information and documents through this system.

3. Learn about the structure of a blockchain

What parts will a blockchain consist of, like other data sharing software or not. Let's find the answer in the section below!
Each block will be stored in 3 parts:

+ Data
The data will depend on the type of Blockchain. For example, Bitcoin's blockchain will contain transaction data. Transaction data includes: Information about the sender, receiver and the amount of coins sent. Data is the information that users share on it

+ Hash of current block
The hash of the current block is considered unique. Without any matching hash of the current block, we can understand it as a password or fingerprint of each person. No one can copy the hash of the current block.

+ Hash of previous block
This is a bridge between blocks, creating a link to connect blocks together. However, this block does not link the first block to other blocks. Since the first block is a self-generated block, it is not linked to other blocks by the hash of the water block

4. The advantages of blockchain

One of the outstanding advantages of Blockchain technology is to ensure high security, eliminating theft or modification of information. Unaffected by third parties when sharing resources on the blockchain. However, besides the advantages of blockchain, like other issues, it always has two positive and negative sides. On the downside of blockchain you can refer to it!

5. Why Use Blockchain?

It can be said that more and more people are using the blockchain system because of the preeminent features that this system brings. Since the data storage is not limited to the capacity and the security of the system is highly appreciated with the utilities that this system brings, consumers are increasingly giving preference to this tool. Choosing to use blockchain can give you many benefits, but everyone should also learn how to use this system because the system is not simple, it is used by many people.
Above are shares about blockchain. Hopefully after reading this article, we can have a broader and more in-depth look at the blockchain system. If you have any questions, do not hesitate to contact us via hotline: 0911 904 968

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