Home Work Task of Tron Fan Club Tutorial || About Blockchain || 10% to @tron-fan-club
Today i will share My Homwork task in Tron Fan Club Community. This task @engrsayful discussed with us About Blockchain. I have learned a lot about Blockchain from this lecture. I would like to thank @engrsayful for sharing important lectures on blockchain with us.
Blockchain is a state-of-the-art technology, blockchain technology is decentralized. Once any information or data is entered here, it cannot be completely deleted, so the user has the transparency of this technology. . And so the popularity of blockchain is increasing day by day. Because the security system of blockchain technology is very high.
Although blockchain technology is now being used more and more for cryptocurrency, blockchain technology works in a way that we can use for any work, be it data of any company, health sector etc. Because the information here is very secure and once entered the information can not be deleted. And in blockchain technology each data is stored in a block and when a new block is created it merges with the previous block. That is why it is called blockchain, because these blocks are connected to each other like chains.
So I don't think there will be any fraud or security issues as a result of using this technology and the users will benefit a lot from it, because here security as well as transparency works perfectly.
In blockchain technology, those who maintain servers and verify transactions in those blockchain systems are called miners and that process is called mining. In blockchain technology a new hash is created for each transaction and thus a block is created with the hash of many transactions. When a new block is created in this way, it is attached to the previous block in the form of a chain.
Minors are rewarded for their mining activities. For example, if a block mining is done in Bitcoin blockchain now, 6.25 BTC miners get it. It is halved every four years, meaning it was halved on May 11, 2020. This means that on May 11, 2024, it will be 3.125.
Once these blocks are added to the blockchain, they can no longer be changed. If it is to be changed, it can be changed when more than 50% of the miners in the block who made the decision decide to change it. But since the miners are from different countries, it is almost impossible.
The full meaning of DPoS is Delegated Proof of Stake, a branch of Proof of Stake (PoS). Delegated Proof of Stake The miners are elected in full democracy, through a voting system. Users will be able to vote here, the more stakeholders the more voting power they have. Miners are selected on the basis of user votes. Delegators pay commissions to voters.
Differentiate Proof of Stake and Proof of Work.
| Proof of Stake | Proof of Work |
|---|---|
| Determined based on how big a partner is, the possibility of verifying new blocks. | The calculation is determined based on the work, the possibility of validating new blocks. |
| The verifier collects rewards from network fees. | Miners are rewarded, mine to solve the block's cryptographic puzzle. |
| If you want to be a miner, you have to buy shares. That means investment stake their coin. | If you want to be a miner, you have to buy hardware. That means investing in hardware devices. |
| Proof of stake is more expensive than Proof of Work. | Proof of work is less expensive than proof of stake. |
| Example: EOS Blockchain | Example: bitcoin Blockchain |
Cryptocurrency is a boundaryless currency. If this currency were to be introduced worldwide, it would be of great benefit to all people in all countries in general. Because this cryptocurrency is not under the control of anyone or any country. Here a person can keep his hard-earned wealth safe, as it is decentralized so that no one can influence it.
In today's world, when one country is at war with another, the currency is confiscated, resulting in many problems for the common man and loss of his wealth. And the result of this war is a response to all the people of the world and a response to the economies of all countries. But if ordinary people all over the world invest in this cryptocurrency and if the world accepts cryptocurrency as the currency of the world, then it is safe for all people and any common man in the world can trade safely anywhere.
Cryptocurrency
Cryptocurrency is a digital currency, cryptocurrency is based on any one blockchain. Cryptocurrencies are generally of two types: tokens and coins. Tokens are created based on one of the existing blockchains. But coins are usually made by those who have their own blockchain.
Cryptocurrency is a boundaryless currency, it can be used all over the world and there are various centralized exchanges and decentralized wallets to keep it safe. Putting this cryptocurrency coin in a decentralized wallet does not mean that he will lose his assets as long as he has the password of that wallet. Because this decentralized wallet is decentralized, he has no control over this wallet.
Blockchian
Blockchain is a new innovation technology that allows any information or data to be kept secure. Blockchain technology is decentralized. Once any information or data is entered here, it cannot be deleted forever. So it is much more transparent and the security of blockchain technology is much higher. Blockchain technology can be used in various sectors such as health sector, government activities, banking sector, work of different companies and exchange of information. But now blockchain technology is mostly used for cryptocurrency.
Finally, I would like to say that blockchain is a technology that can make people's hard work easier, can take security to a much higher level. If blockchain technology is used properly, it will be accepted by the public. Because it is decentralized and has a lot of transparency.
And by sharing some very important tasks today about blockchain, I have learned a lot myself. So many thanks to @engrsayful for organizing such a homework and many grateful to him.
Thank you very much for your participation and I hope this kind of work participation is very much helpful for all of us to understand Tron and its basic features. thank you
twitter sharing
https://twitter.com/KawsarH67898725/status/1505399687020367872