_{Cover Photo: Edited by myself in canva}

What do you know about blockchain?

Blockchain is a network of bundled information called blocks, that keeps and encrypts bits of information on these blocks. A block can not be changed once it is formed; it cannot be hacked, removed, or changed in any way.

Blocks represent files that keep data on the network or chain and it records data permanently. Block contains recently occurred transactions. When a block is full with transactions it makes way for a new block to be formed on the chain so to continue the blockchain.
There are a number of blocks found on the blockchain. Each block contains the undermentioned features or qualities.

• There is always data available in the block.
• Each block has something called nonce which is a 32-bit number that is generated at a random when a new block is formed.
• There is also the hash, which is contained in every block. This also contains a 256-but long number (hash) that is also generated at a random and used to verify the validity of each block. The hash contains some few zeros in the first digits which indicates if a hash is valid.
  Every block contains a hash of the previous block which is used to continue the blockchain. Most unique about each block is the hash and the nonce.

Describe one type of blockchain

Public Blockchain

This is the type of blockchain on which crypto currencies such as Bitcoin originated from. In this type of blockchain there are no problems with centralization. It is decentralized. There’s transparency and security.
Because it’s decentralized there need to be a way of verifying data authenticity. This is done through a method called, consensus algorithm. Here the users of the blockchain reach a consensus on the current state of the ledger.
Some consensus methods include; Proof of Work (PoW) and Proof of Stake (PoS).

Public blockchain does not have any access levels or permissions. It is not restricted to a particular group of people alone. Anyone with internet access can sign in to the blockchain platform and become a authorized user. This person can access any information on the blockchain, past or present, as long as that particular information is on the blockchain without any restrictions. This user is free the the blockchain platform and everything it serves with no boundaries or restrictions.
Even though no valid information can be changed on the blockchain, anyone can find bugs and verify transactions since the source code is open source.

Advantages of Public Blockchain

INDEPENDENCE: One of the main advantages of public blockchain is the fact that it is independent of any organization. No organization has authority or any form of control over the blockchain. Because there no central servers, even if the organization that started it ceases to function, this blockchain will still function just right as long there are still people (or users) having their computers or devices still connected on this platform. It is blockchain so it depends on the devices connected to it to function. It can only stop functioning when there are no more devices connected to it.

TRANSPARENCY: Another very key advantage of a public blockchain platform is that the it is transparent. In that no one can actually hide and do perform any form of transactions with anyone know about it. All information in a user’s profile is open to everyone. Balance in wallets are open to everyone. Even transaction histories are open to everyone.
A classic example of this situation is the steemit platform, where you can access all information about any user particular as long as that information is put on the platform it is not restricted from anyone. Everyone can access it. This promotes trust among people, as my next point will elaborate.

TRUST: Transparency is the foundation of trust. The system being transparent breeds trust among users. Everyone knows what everyone else is up to. Every transaction in anyone else’s accounts is open to everyone, past and present alike.

Visit Blockchain Demo, what did you learn from that page?

The data entered form a new block with its unique nonce. The nonce is which is encrypted in a hash. Every data has belongs a block, has a nonce, and an encrypted or secured form of the same data called the hash. In the blockchain every data is hashed to ensure security.

Also, you can tap on the menu to view some menus where you can interact with the system to learn more about blockchain terms such as hash, nonce, etc.

The blockchain demo has these menus available to interact with and learn.

• Hash
• Block
• Blockchain
• Distributed
• Tokens
• Coinbase
  Open any of these menus to interacts and learn these terms first hand.

Each block has a unique nonce and a unique hash.

Every data is encrypted in a hash.

Every new block is connected to the previous using the hash of the previous block.

Advantages and Disadvantages of Using Blockchain Technology

As mentioned above, blockchain technology helps to promotes independence, transparency and trust among users.

But there can be issues with performance, scalability, and security, if appropriate measures are not taken.

Conclusion

Blockchain technology is the new revolution. It must be studies very well and understood, then you would enjoy working it and using it to solve problems.

Blockchain technology if adopted by the health sector would go a long way to helping to keep track of patients medical history across hospitals, across states and across the world from anywhere.
Any doctor can easily access their patient’s medical history from the anywhere in the world and from part of the patient’s medical history easily at a go.

Blockchain technology could be adopted by governments to promote democracy as the system would be adequately transparent. Every citizen would would be up to speed on whatever that’s is going on the their state or country.

Thank you

I invite @soweto, @five5, & @phil24 to take part in this wonderful course.