Introduction to block chain

in CampusConnect3 years ago (edited)

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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.
  1. Data sharing: It can be used as a marketplace to share or sell data
  2. Immutable data: Data stored on a blockchain can’t be changed or accessed by hackers unlike other data storing mediums.
  3. 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...
  4. Keeping Medical Record: Blockchains offers safety in record-keeping of medical operations and other medical activities
  5. Security: Here in terms of security, a blockchain can be used to protect one’s belongings and other valuables assets like money gold, etc.
  6. 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.
  7. 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.

Thank you
@campusconnect
@whitestallion

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 3 years ago 

Hi @obioracharles
Thank you for this wonderful content, keep posting this quality contents on #campusconnect

Thanks for your support

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