It is possible that you have heard the word blockchain or chain of blocks and you perceived it as just a technical term. However, blocking is a technological innovation, which in the future will have a great impact on many businesses and services. A blockchain is a distributed database. This means that the storage devices used for the database are not connected to the shared processor. The database collects a growing list of records called blocks. Each block has a timestamp and a link to the previous block. Cryptography ensures that users can only make changes to those parts of the block that they possess. To do this, users need the private keys necessary to make changes to the file. This also ensures that each copy of the distributed network is properly synchronized.
Imagine a digital medical record: every record in it is a block. There is a timestamp, the date and time when the record was made. And it is so arranged that the records can not be changed retroactively, because we want the records of the diagnosis, treatment and so on to remain clear and unchanged. Only a doctor who has one private key and a patient who has another can access this information and this information can be shared only with those people whom the user wanted to share himself with, for example, with a hospital or other specialist.
The default block chains are safe. The concept was introduced in 2008 by Satoshi Nakamoto, and then was first implemented in 2009 as part of the Bitcoin digital currency. A chain of blocks there serves as a public ledger for all bitlock transfers. With the help of the blockade, bitkoyn became the first digital currency in which the problem of double spending was solved (unlike coins or tokens, electronic files can be copied and thus spend money twice). At the same time, there is no central server or chapter in the system.
Security of the block is provided by a distributed server with timestamps and peer-to-peer networks. The result is an autonomous and decentralized database. This makes the block system an excellent solution for recording events – for example, for recording medical indications, transactions, personal data and proof of origin. Also, the detachment frees merchants from having to resort to intermediaries. Some people call blockade the Internet of values, which I find a good metaphor. On the Internet, anyone can publish information and other people can access it anywhere in the world. Blokchein allows any person to send values to any part of the world in which you can access the blockade. But you need to have a private, cryptographically generated key for this, so that you can access only those blocks that you own.
By providing this key to someone else, you effectively forward the value of what’s stored in this lockbox cell. In the case of bitkoynam keys are used to access addresses that contain units of currencies that have financial value. This serves as a record of the procedure that banks usually perform. It also plays a different role, building trust between the parties, since no one can make changes to the blockade without having the appropriate keys. Edits that are not approved by these keys are rejected. Of course, keys, like a physical currency, can theoretically be stolen, but in general, storing several lines of computer code will not cost you too much. Unlike, for example, the storage of gold bullion in some Fort Knox. This means that many of the basic functions that banks perform – identity verification, to avoid fraud, and record transactions – can now be performed much faster and more accurately with the help of a blockbuster.