Introduction to block chain
Hello guys, today I will be talking about Blockchain. There are of course many blockchains out there but most of you guys are familiar with the likes of Cardano, Ethereum, Steem, Bitcoin, Tron, XRP, and so on, so in this post, I am going to enlighten you guys about what a blockchain is which you already know, it uses or applications and also to list out the names of other blockchains out there that most people are not familiar with.
BLOCKCHAIN
A blockchain can be defined as a decentralized system that stores and records information to be distributed across an entire system of the computer on the blockchain. A blockchain starts with an initial block commonly referred to as the Genesis block which records the first transaction, the block is also given an alphanumeric string known as a hash and it is based on the block’s timestamp. Then, blocks are then added sequentially to the chain, also note that each block makes use of a hash from the previous block to create its hash, thereby linking all the blocks together. The Blockchain was first introduced in 2008 by a person or group of people under the name of Satoshi Nakamoto, its purpose was to serve the need of bitcoin transactions, its white paper was introduced in 2008 to help establish the model for a blockchain and by 2009 implements the first blockchain as a public ledger used In the transactions of bitcoin and it was in the form of a peer-to-peer (P2P) cash system, there is a shocker in the history of a blockchain and that is despite bitcoin having being operated under the first blockchain it isn’t the first online currency to be proposed to the world. Then, the second generation of blockchains emerged with the likes of ethereum which is the second-largest blockchain after the implementation of bitcoin. I’m not going to emphasize much on the history of other blockchains out there but one thing you should know is that other blockchains made use of alt coins and also operated on different rules and have different applications
USES OF A BLOCKCHAIN
There are so many uses and importance of a blockchain that one would and wouldn’t possibly know, so here are some that would be listed.
- Data sharing: It can be used as a marketplace to share or sell data
- Immutable data: Data stored on a blockchain can’t be changed or accessed by hackers unlike other data storing mediums.
- Ensuring food safety: Surprisingly as use of blockchain, it can be used to ensure food safety due to the fact of data in a blockchain being
unchangeable is helps know where and when a food item originated from and also information containing other food safety protocols... - Keeping Medical Record: Blockchains offers safety in record-keeping of medical operations and other medical activities
- Security: Here in terms of security, a blockchain can be used to protect one’s belongings and other valuables assets like money gold, etc.
- Digital voting: Most people or groups of people in the world are faced with the problem of fraud or malpractices during voting but with blockchain technology, one's vote can truly count because of the unchanging nature of data in a blockchain.
- Money transfer: it serves as a means to transfer funds from a person to another.
Copyright Protection.
Here is a comprehensive list of other blockchains available which you can feel free to research and check how any might benefit you;
Algorand
Chainalysis
Chain
Medical chain
Ligero
DHL
Block
array
Maersk
Shipchain
Candy
Dapper labs
Pixura
State of Delaware
Zilliqa
Waves
NEO
NEM
Nebilo
Enigma
Ardor
Arcblock
Aion
Hyperledger fabric
EOS
Hyperledger
sawtooth
IOTA
Lisk
ICON
Komodo
CIVIL
MADHIVE
VOATZ
NEBULA GENOMICS
PATIENTORY
Wholecare
EVERNYM
HYPR
Filament
Multi-chain
Open chain
Nxt
Qtum
Stellar
Smilo
Wan chain
Tezos
Antchain
Trade lens
IBM blockchain
Quorum
MineHub
Go direct
BC Trade 2.0
Baseline
Move X
Corda
hyperledger Indy
Ocean protocol
Axcore
Hedera Hashpraph
Tendermiint
Finally, they’re lots of blockchains out there that one can’t keep count of
CONCLUSION
In a blockchain what makes it special and gives it great importance is that data is immutable (cannot be tampered with), In the uses of blockchains listed one would notice that the main factor influencing the importance is this characteristic.
Blockchains have various categories e.g. ones used in the healthcare section, NFT’s, Cryptocurrencies, Music, Real Estate, Cyber Security, government, software and hardware, record keeping, etc.
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