What Is Blockchain Technology

in Tron Fan Club6 months ago (edited)

Assalamu Alaikum


How are you? By Allah's grace, I'm fine. Today, the topic I want to discuss is Blockchain technology.

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Blockchain is a collection of blocks. which carry data in the form of a chain. Blockchain is a ledger that anyone can see. Any data in Blockchain can be accessed by anyone from any part of the world. Like you will also see the amount of transaction from which wallet, to whom sent, to whom given. But you will not know his name address etc. You can only know its Hash address.

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Now we know what is the block? Block has three parts. The first is the data, the second is the Hash and the third is the Hash of previous block. The first one is the data. Data mainly depends on the blockchain. For example, if we talk about the block of Bitcoin, there are three types of data in a block of Bitcoin. That is Sender, Receiver, Amount. Here when you send Bitcoin to someone, the sender address is the receiver's address and the amount you want to send is the data. Then comes the work of Hash. Hash is a computer generated number. Which will create a Hash when you write it first time. And when you change any data, the previous Hash will be changed. And when a hash changes, the old block will not exist but a new block will be created. Next comes the hash of the previous block. This is when a block is linked to another block in the blockchain. For example, a hash has a previous hash associated with it. Besides, if the data is changed in a block, but the hash in which the data was, then the hash is also changed. And if someone changes the data of the block, then the previous hash will no longer match and the blockchain will automatically detect that something has been done with the block. And then it will not be included in the blockchain.

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But nowadays computers are very fast. Any block changes the data or hash that each block contains but they calculate that anyone can put it. So to prevent this there is a system in the blockchain called proof of work. Proof of work is how long it takes for a block to be created or edited and saved. So it takes roughly 10 minutes for the blockchain to recalculate the new block. When you write new data it will take 10 minutes to recalculate and add a new hash to it. Because after ten minutes it will reset again. As a result, it is not possible to hack the blockchain.

Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.

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Thank you for educating us on what blockchain technogy is at this time, great stuff you have shared here.

Such a beautiful article about Blockchain technology. We can use this masterpiece technology in every where. Thank you so much for sharing your post with us.

Thanks my friend

This basic information is required for many new members and also for old members. Thank you for this great post.

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