Crypto Academy Season 3 Beginners' course - Homework Post for Task 2: Blockchain Technology

in SteemitCryptoAcademy3 years ago (edited)

Hello my professors and friends in the Steemit Crypto Academy community. I am delighted to be a part of the course by Professor @yousafharoonkhan and to have completed the homework task by the Prof.
I was able to attempt the first question in the homework task.

Here is my homework submission below.

Write the definition of blockchain. And how our data on Blockchain is protected from hackers. ? And write details about Data, Hash and Previous Hash tag and explain through screenshot.

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BLOCKCHAIN

Blockchain is one of the words that is often used in the cryptocurrency word. Before I write the definition of blockchain, let me explain the two words that forms the term, **block and chain.
A block is a square-like or rectangle object that is made up of particles.
A chain is an object that links up different objects or similar objects to make them stay together.
Combining these two meanings together, a blockchain is a system of interconnected square or rectangular objects that are filled with particles.

Relating this to cryptocurrency, a blockchain is defined as a group of connected systems that keeps the financial records or information of a block. It is a decentralized system that involves the duplication and distribution of information and transactions of cryptocurrency information across a network of computer systems.
A blockchain is made in such a way that the different computers connected has acces to the info in the blocks independently and each block in the chain contains a number of transactions which may look similar but different from each other. Once a block is filled and can no longer accept information, a new block is formed and chained to the previous ones. This new block is added to all the systems connected to blockchain. Blockchain work with Distributed Ledger Technology.

For anyone to access information in a blockchain, he must have the digital signature called hash. The hash protects the blockchain from fraudulent persons who are out there tamper with the data in it and steal if possible.
Therefore, the key to safely secure blockchain data is through an algorithm known as hashing.

DATA

Data is simply the information stored in a block. It is the content of the block that forms a chain. Simply put, data is the content of a block. Every data sent to a blockchain contains information of the sender, the content of the data, the receiver's account information, the transaction ID, timestamp, transaction number and the source from which the data was sent. All these information makes up data in a blockchain. Different data from different different persons and sources makes up the data in a blockchain.
The blockchain explorer for each cryptocurrency blockchain helps with the provision of all the you need to know about a new data in a block.

See example in the screenshot below
Screenshot_20210624-072350_1.png

HASH.

This is the unique alphanumeric code that is used to represent a transaction or block in a blockchain.
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Source
Hashing is the process of converting a transaction verified transaction to be added to a block to a set of unique numbers and letters in process of building a block. This is done by putting the transaction through a hash algorithm. Hashing is started with the first data, information or transaction that starts a block. As soon as another data comes into the block, an hash will be formed for it. The first and second data is hashed together to produce another unique set of numbers and letters. This process continues until the block is filled and the last hash called the roof has h is formed for all the transactions.
This hashing of blockchain is used to protect each block from fraudulent acts.

PREVIOUS HASH TAG.

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source

As stated earlier, blocks are chained to form a blockchain. This blocks are not just chained together but the chaining is to systematically connect them together to have the unique code of the previous blocks in the new one.

I don't know if I have explained this well but let me try to explain in another way.
When a block that houses different data is filled up, a new block is created which is connected to the old one this goes on and on to form a long chain of blocks. A unique hash called the roof hash is formed for right from the first block and this unique hash from the first is put in the second so the data contained in the first is contained in the second and this process continues to the third, fourth, fifth and so on.
This means that the summary of the first block is contained in the second and the summary of the second block is contained in the third like that to the very last.

Special Mentions:

@steemitblog

@yousafharoonkhan

@sapwood

@stream4u

@reminiscence01

@awesononso

@wahyunahrul

@lenonmc21

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I think you made a mistake in the title. This assignment is for Task 2. Please Edit it before the professor's review. Thank you.

 3 years ago 

Thank you. I have done that.

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