Steemit Crypto Academy Contest - S1W3 | Review Blockchain Through the Concept by @zonash
I am Zonash and i also fine and happy by the grace of Allah Almighty.
Here as you know the steemit crypto academy engagement challenge week 3 is start ans many of members this wonderful platform is showing his interest to take part in this wonderful Contest that cause i also try to take part on this wonderful contest and i hope you i will be try to do my best on this participating post.
No . 1 :- Tell us About Your favorite concepts or term that is related to blockchain, try to be a explanatory & make it sure to give in your opinion?
Many of peoples on the crypto academy is also think that about the blockchain technology and also think about the distributed ledger technology DLT are the one and a same thing but in my opinions they are a so different and change from to each other. The Blockchains technology is built a using the some different technologies, and they can also distributed ledger technology is one of them if we say it is really & most important then I cannot be wrong because the distributed ledger technology is is also as the type of database that is en-coded and the distributed ledger, an-acting as the ledger that a records to the transactions across to a system & networks. And here this is a also the same technology that is Bitcoin the cryptocurrency uses.
In the simple way to understand It, If think you work in a small shop and sell some food products there. One day a person come here into your shop and bought a some food products through your shop and paid you a money.And now here if you have a ledger where you record the all of that your food products. So, in which then you can also have a recorded transactions that is made it by leader..
The Distributed Ledger Technology like DLT has play a significant part on building up the Blockchains technology. That is the technology has been helped to make a decentralized app on Blockchain, like as the "DAPPs" and also the Distributed ledger technology (DLT) is also now as to becoming the underlying the layer of the futures of the internet technology.
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Now here through this wonderful technology all the transactions like as a Peer-to-Peer Networks, Contract's, Linked to the blocks, and a Cryptography is also used in this wonderful is called distributed ledger technology DLT. No lw here this is also in this technology the every records is saved in the distributed ledger technology has been a unique with the cryptographic signature which is makes it more secure or save.
The distributed ledger technology is also can be spreaded from this whole in the world, and it's can be reorganized & held by a someone different parties in to the some different places. And this is most famous example of a distributed ledger technology (DLT) is GoogleDocs , such as if we share it with some peoples, it gets a distributed to among the peoples and they did not not transferred a fully. They don't you think that is this Blockchain technology might not be a most famous and secure & have a save this transparent transactions systems without this wonderful technology is know as distributed ledger technology.
Here if i can write in the simple words, then i cannot be saying that is the data of the Transactions that is the distributed to all the nodes on in the network. And here all the records of ledger it is already permanently made a block, and those is the multiple in the blocks that is make in a whole blockchain as only 1 oe 1 block that is connected to the other block, through out a this chains and that a chain is also known as Nodes.
No. 2 :- Why do you think that it is important in the Blockchain?
A distributed ledger technology DLT is a most and very important part of the Blockchain technology, here and Why do I think ? Because it is have many good & important benefits for the Blockchain technology here now that you can see in the below:
Security of DLT : The Blockchain is also works on the wonderful technology is called Distributed ledger technology DLT, then the transactions are enter into the database after the cryptographic signature and after the signing to the Contract's, that is also known as Hash or hashing.
Synchronized of DLT: I also know about this is the distributed ledger technology like DLT can be held & reorganized by a someone different peoples and on the some different places, so then here if all the participants can be used the identical copies of this, and take a any editing will be a bethened to the participants. So, here now to make the blockchain technology is an accurate, the distributed ledger technology like DLT has a technology to be a Synchronized.
No Third Party: In this technology the Distributed ledger technology (DLT) is no have any third-party to involvement in the our database, like as someone can not be alter to the data or transactions and until it's is distributed to a someone, so it also make it a highly transparent like well see in the below.
The Highly transparent: The Distributed ledger technology like DLT is also the highly transparent as in the informations in the database are can be easily be viewed by anyone. Ethereum & the Ripple are the most famous examples of the wonderful technology is known as blockchain technology that have been used to the Distributed ledger technology.
No 03 :- Do you thinking's that the extension of the blockchains is would be possible without this concept is there an alternative or in the similar term?
This is the alternatives for the distributed ledger technology DLT like as a Hashgraph like hashing, such as , The Lota Tangle & the R3 Corda. And they will be also all the worked on the as a alternative data to structure that is also used for the maintaining of ledger. But in the honestly, I do not thinking about that is a existence of this wonderful technology is know as Blockchain technology would have been to be possible without this wonderful concept or this distributed ledger technology.
Even as you can be also know the Bitcoin the cryptocurrency is was made a using the Distributed Ledger Technology in Blockchain technology. So, that is also takes us to the conclusion because that is not the distributed ledger technology means no bitcoin.
But of i sure, these are many intelligents peoples on the world and in our earth, maybe someone would be have to made something else or maybe made a something are very good and it is might to get a replaced soon at possible. But here till now this is still, and I think the wonderful technology is called distributed ledger technology is the most important part of technology for the blockchain technology.
No. 04 :- Do you think it is the possible to improve the term in some way ? and Explain us how?
The wonderful technology is know as the Distributed ledger technology has been played a very important role in the Blockchains technology. But here it is also still, there have to nothing in the world that is 100% of perfect and correct. So, the some is that i think & needs a improvement is firstly in the speed of transactions of blockchain technology , as you can also know I guess there should be a some mechanisms that is should not be used to minimize the noises or also increase the transactions speed. This is a also the threat of a 51% Attacks or hacked That is the most enduring concern for the lovers and users of this wonderful technology is called distributed ledger technology. So there is should be some the mechanism to save themselves from this attacks or hackers or scamers.
And here with this wonderful technology that is know as distributed ledger technology in short like as DLT, the sun has to come to dusk and now here this is the little introduction about this wonderful technology is distributed ledger technology that is is ended. I hope my today post was a very helpful for everyone on steemit, and know this is end and i hope i will be write goid about my favorite concept that is distributed ledger technology.
Regards,
@zonash
I agree with that because security is important part of every concept
In keeping with your words, I must say that Distributed Ledger Technology (DLT) is a very important and very popular part of blockchain technology.