The blockchain is a chain of blocks which contain information.
First used in Bitcoin by "Satoshi Nakamoto" in 2009 for Bitcoins(A digital currency)
The blockchain is a distributed ledger.
Now, what is ledger?
The blockchain is a distributed ledger.
Now, what is ledger?
According to Wikipedia ledger is
A ledger is the principal book or computer file for recording and totaling economic transactions measured in terms of a monetary unit of account by account type, with debits and credits in separate columns and a beginning monetary balance and ending monetary balance two account.In simple terms a file which stores information like transactions and account details called Blockand the connection between them is Chain.
A block contains 3 part
- Hash of the previous block
- Data
- Hash
 |
| Block of Blockchain |
Hash is a like a fingerprint, which contains details of data(sender, receiver, content, previous block hash etc)
Hash looks like this "a0680c04c4eb53884be77b4e10677f2d"
If data is manipulated hash reflect the changes, which makes block secure and easy to use.
Once the block is created a hash is calculated and its different for every block.
Data in a block chain contains different type.
Example in Blockchain data contains 3 parts
- From (Sender)
- To (Receiver)
- Amount (Amount to be sent or received)
Hash of the previous block is like a linked list(save the address of the previous node) by this feature block is connected from one block to another.
Block 1 is called Genesis block(first block has 0000 as a previous Hash), if you change any block hash will change and will affect the next hash, then you will understand someone has tempered your data.
but, now technology is evolved and block can be tempered and can be recalculated to stop this a new mechanism is evolved called proof of work
Proof of work
In Bitcoin, you need 10 min to get proof of work (for one block)and because of this it really makes impossible to temper a particular block, if you temper one block you need to calculate all the block.
- Greater transparency
- Enhanced security
- Improved traceability
- Increased efficiency and speed
- Reduced costs
- Financial Services
- Publishing
- Apartment Rentals/Real Estate
- Healthcare
- Music
- Supply Chain Management
- Government
- Internet of Things
- Cloud Computing/Distributed Computing
- Charity
- Messaging
- Digital Identity Management etc
- Blockchain developers
- Blockchain project managers
- Blockchain quality engineer
- Blockchain web designer
Technology skills needed as a developer include: Microsoft SQL Server, Visual Studio, .NET, MVC, AJAX, SQL, C, C++, C#, Javascript, Node.js, JQuery, SOAP, REST, FTP, HTML, XML, XSLT, XCOD, Neural-networks, Regression, Agile Scrum, MYSQL
intellipaat
simplilearn
udacity
edureka
also Read-
Basic Useful Knowledge .
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