Hello everyone Assalamualaikum

Hope everybody is doing well mentally and physically. And as well as having a good time with family. I am also well with your prayers. Today I am participating in this test as a candidate for the homework test organized by @engrsayful brother. The questions that have been asked to be answered. I have tried to write the answers in my own way. I hope you enjoy my writings.

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Q1. Explain the security feature of blockchain.

Ans:-

At present blockchain is a technology that has the highest security. Because blockchain is a technology where many blocks are connected in the form of chains. When a transaction is completed here, a new block is created and each blog carries new data. And at the same time these data become permanent. This data is so permanent that no one can delete it even if they want to. As seen in many financial institutions or different organizations to delete different information or manipulate the information. As a result, people's confidence in those institutions went up. But blockchain is a technology where no one can delete or change any data.

Moreover, because blockchain technology is decentralized, no organization or individual can give authority here. As a result every data is very secure and a place of human trust. Another important point is that even if a hacker tries his best, he cannot hack any information from this technology. So at the present time blockchain technology is the highest security, now people are gradually becoming aware of blockchain technology and are becoming interested in using blockchain technology.

Q2. What do you mean by mining in Blockchain?

Ans:-

The word mining means digging as many of us know. That is, mining is the process of extracting or extracting minerals from the crust. However, the term mining is used differently in blockchain technology. Blockchain is a decentralized technology that does not delete any data stored in the chain. And anyone can access this data from anywhere in the world.

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Simply put, mining is about verifying every transaction. Usually those who run the server and assist in the transaction are given some tokens for their efforts. And this process is called mining. Blockchain Mining is distributed to all users involved in a blockchain. Which involves transactions in existing blockchain ledger transactions.

Q3. What do you mean by DPoS system of mining? Differentiate Proof of Stake and Proof of Work.

Ans:-

DPoS System

DPoS means Delegated Proof of Stake. This is a branch of Proof of Steak. Here the Miners are selected by voting. Where all users select the Miners of their choice through democratic process. The more stakes a user has, the more voting power he will have. Since the miners are selected by the votes of the users, the more votes they get, the more chances they will have to stay at the top. And if they can stay at the top level, they will get the opportunity to do mining. The top witnesses who got 20 + 1 votes got the opportunity of mining. Such is a beautiful example of steam blockchain mining.

Differentiate Proof of Stake and Proof of Work.

Proof of Stake	Proof of Work
Proof of Stake system is very expensive	Proof of Work is less expensive
A lot of energy is required here	Less energy is required here
These are less reliable	These are more reliable
An important algorithm needs to be solved here to validate any transaction	Here miners usually have to solve complex puzzles using their computer processing power
Here the one who mines the block first basically gets a reward	Here the miners are rewarded for their contribution
Tron Blockchain is the best example of this method	Bitcoin Blockchain is the best example of this method

Q4. Why boundaryless trading is important?

Ans:-

The current world is a competitive world. There is a kind of undeclared war or competition between the developed countries for representation at all levels, starting from the economic sector. As a result, different currencies are banned in different countries at different times for different reasons. Moreover, when a war breaks out in some countries or a shadow war continues, it is seen that one country confiscates or bans the currency of another country. As a result, many ordinary people lose their money or face problems. For example, in the current war, the money of the people of a certain country has been blocked by some institutions.

And to get out of this predicament, if boundaryless currencies like cryptocurrency were introduced, the common man would never get into trouble. Nor will they ever lose the hard earned money. Nor will it be stuck by any particular financial institution. Since no single group can influence cryptocurrency. Moreover, being decentralized, everyone can enjoy the benefits. So I think people's currency remain safe and boundaryless currency to look after themselves. Where they can safely trade from anywhere in the world.

Q5. Differentiate Cryptocurrency and Blockchian

Ans:-

Blockchain	Cryptocurrency
Blockchain is the name of a technology	Cryptocurrency is the name of a digital currency
Blockchain technology is used to store data on decentralized networks	Cryptocurrency is basically a transaction or a medium of exchange
Blockchain technology can be used in many sectors, including banking and healthcare, in addition to cryptocurrency	Cryptocurrencies can be used for digital money and investing. It can also be used to buy or sell products
Blockchain is a public ledger where everything is absolutely transparent. Anyone can view the available information on a blockchain network	Cryptocurrency basically offers anonymity where no one can find out who is behind this transaction

Thanks to everyone for reading my articles patiently.