Blokchan, it's the simple word to do

Easy to block, sound and work!
Based on the technology of block-technology, the crypto currency work has been created. Naturally, the first association goes with Bitcoin, it's the first, but not the only.

For the use of crypto currency, do not know all the technical details of the blocking device. At the same time, a common understanding is useful and still no one has resisted.

After reading, you can understand why a perfect translation can not be canceled, why certain specifications of transaction confirmation and why the security of the system is so high.

Yes, it is not possible to refund the wrong purse number. Did not you know?

Block or block chain
Literally Blokchein and translation - a discipline of blocks. Actually, so this is it. Many blocks are connected to one circuit because they contain information from the previous block. A database is obtained from blocks containing specific information.

Blocks and hashing
Where do the blocks come and what they do? I have a good analogy for explaining simple words, blocking what is and how it all works

Remember what you do when you send a translation. Call me and tell me that any amount of money has come. To save the secret transfer amount, it can be encrypted. You are encrypted and the recipient, please check. If the code is correct, then almost

This process is called hashing in a block system, there is a hash link for each block in the chain.

Each operation of the block has a hash addition

Now imagine that the transition is not private, but with the help of banks worldwide, continuously sending certain currency to each other, directly.

Everyone keeps a record on their computer: the start of the warlet, and then all the translations, how many and for whom? At the same time, each partner in the chain can assign a hash number to each of its entries so that no one can change its translation. Hashing algorithm may be different in each crypto currency.

And all new records will be passed to a person who uses this encryption translation system - to perform the operation performed synchronization

If System 3 rights are easy, synchronization itself is easy to operate. And when these people are millions! Easy to get confused. Who is sent, and who does not. Who kept the record and who missed it.

Naturally, for us, such transmissions are made by the computer in an automatic mode.

This is when you use a local purse - you keep the entire history of a particular crypto currency transfer and periodically get new records for database adjustment.

To reduce the load on the network, no translation of the block is written, but it is written soon. Hash deposit is not for every transaction in the block, but the whole block is its own. This hash is a reference to the previous block and the sum of its transaction values, the date and time the block was created. All blocks contain their own sequence numbers.A chain of blocks is a block

When your transaction is written in a block, it is equivalent to 1 confirmation. When the block is created with your transaction in 5 blocks, your transaction will be in total 6 supporting records.

That's why you can not cancel a perfect transaction - for this you will not only need to modify the block with the same transaction, but all of the later forms are there. It is not real or safe to delete this amount of information.

So, it turns the block that hashes blocked - the discipline of the rock is blocked.

Construction of blocks and mining
If you need to create a hash using complex encryption system, nobody wants to do this. These roles are engaged in partners, on their computer, the transaction for a particular fee is collected, signed with a hash quantity and sent to the network. Who are mining with their farms.

TO BLOCK BITCOIN, FOR EXAMPLE, IT IS ALLOCATED TO CREATE 10-MINUTE BLOCKS AND SYNCHRONIZATION.
FOR THE AUTHORS OF THE BLOCK, THE PRIZE INITIALLY IS 50 CUE, THEN 25, NOW 12,5. THE NEXT AWARD WILL BE REDUCED TO 2020 YEARS. AND SO EVERY 4 YEARS (LAST TIME IS 2016 YEAR).

The computation of hash counting and computation of block structure has been on the mine. The author of the block is selected at random, everyone has the opportunity to create a block before others. But more powerful iron, more likely. For example, a mine algorithm in Bitcoin's war. Some crypto currency blocks are used, an algorithm: there are more opportunities for blaming those who own big crypts in his wallet.

If it happens suddenly the same block is made, and after that it is created two new branches, then the main branch recognizes the time which is longer. If the branches are the same length, then the chain gets the original, last block where it was created earlier.Home firm

Is it possible that a person in a super-mega-cooler farm will always be a writer? Its probability is like a superman in his city. To do this, you need to own 51% of the total iron used in the mine. Considering the matrimonial investment, equipment costs and the popularity calculations of the world's mining.

And if there's a lot of mining? What is my chances? Block system is a self-regulatory system. If the block is calculated very quickly, then computational complexity increases.

USEFUL READING: MINE CRYPTO CURRENCY AND THIS IS WHAT YOU NEED

How fast will your transaction be in the next block? Depending on the commission. It is possible and zero, but in general the transaction will not normally be written in the block. The commission will receive the required number of confirmation numbers greater, faster.

Advantages of Block Technology
So, in simple words, blocks are a database that uses encryption technology to distribute the chain participants to computers. That is, the database is not stored in one place, but is spread all over the world and constantly synchronized.

So the first advantage:

The database will not be lost, the network is closed;
The recording can not be faked. You need too much computation complexity: Repeat as a block hash and follow it all, and then fast for the creation of a new chain in the reconsideration blocks. Even if you try, while synchronizing with the database, millions of users will have an isolation - and the record will be rejected.
The network of blocked transactions goes directly from the person without the intermediary, which gives 2 more benefits:

Low commission when sent through bank;
High transaction speed. It is particularly important for international transfers.
In spite of the fact that there are open trading chains (some crypto-coins are completely anonymous), it is impossible to establish a specific person within a particular wallet. Only if he does not say anything about this.

Plus, you can easily have ten and hundreds of purses.Applicable in block training system

In fact, the advantage of blocking technology is not only money transfer. His argument is that you can use it in any other case, not necessarily financially. Block, in fact, performs a confirmation of the execution.