Home Work Task of Tron Fan Club Tutorial || (Learning basics concepts of blockchain) || 10% for tron-fan-club

Hello Tron Fans,
How are you? Hope you are all good by the grace of Allah. This is going to be my Third post in this awesome community. At the beginning of my home-work task I specially provide thank you to our honorable professor @engrsayful who arranged a home work courses by which we are continously learning new topics about blockchain. Let's take the exam.

Blockchain is a decentralized modern technology where the systems provides much more efficiency and security of data than the centralized organizations. let's take a example- facebook is a centralized social media platform. In this platform, the user's data are recorded their own databage. Now the organization can change the users information of data if they want. On the other hand steemit is a decentralized social media platform. It uses the blockchain technology. The organization can not change the data which is already recorded or attached with a ledger block. This is the main features of blockchain technology where the trust and security systems exists in the users. None of the data tampering are held in blockchain technology that's why this technology are very trustable and becomming popular day by by among the people.

In blockchain, we know that a group or packet of data are added to the previous block and it forms like a chain. These packet of data or transactions are verified by the group of people. They verify the transactions with their nodes. When the transacitons are valid, then it is send to the ledger and added to the previous block. This process is called mining. Those group of people who are contribute to validation of each transactions and run the server smoothly they are rewarded by some extra tokens. This tokens are created when a new code or hash will be created for each transactions.After a certain period this tokens are distributed in the specified syestem.

DPoS means Delegated proof os stake. DPoS is a mining system where miners are selected from a election based on the users choice. This mining system is use the fundamental concepts of Proof of stake. The users have full democracy to vote their candidate and these top miners are participate to varify blocks at a certain period of time. This miners are also callded witnesses or block producers. Steem blockchain mining syestem works on the Delegated Proof of Stake mining system.

We know that Mining system is the mechanisms of blockchains's cryptocurrency where each transactions are validate by the group of nodes and add them to the blockchain ledger to create new tokens. Proof of work mining system mechanisms is, here miners are validate and solve the critical algorithms of each transactions by their powefull nodes and added the ledger blockchain and get rewarded. They get tokens by their work. On the other side, Proof of Stake mining system is the mining process where several number of users who purchaged a top amount of tokens can participate mining with next 6 hours. Proof of stake miners is callded Super Representative (SR). Proof of work miners haven't any specifiq name. Proof of work miners required energy to win blocks and Proof of stake miners required coins to win blocks. proof of work is more secure than proof of stake.

We all know that the world's most powerful nations control the world economy. The main reason for this is that when a country is in a leading position in the world economy, the currency of that country will act as a medium of exchange around the world. And that is why powerful countries always want to keep the world economy under their control. When a country has a hostile relationship with another country, one country imposes sanctions on the other and this affects to the common people. The world monetary system then became questionable. To get rid of this, many countries are showing more interest in gold based exchanges because gold is a valuable resource in all countries. In this case cryptocurrency can play a very good role because cryptocurrency has gold and silver digital electronic coins. We know that cryptocurrency runs through blockchain technology and this technology is not controlled by any specific person or country. Therefore, if a country imposes sanctions on another country, it will not have much effect on the economy of that country. Ordinary people can exchange with each other from any part of the world and no one can consume anyone's wealth. That's why boundaryless trading is important.

Blockchain and cryptocurrency are two different things. Blockchain is a technology while cryptocurrency is a type of digital currency. Some of the main features of blockchain technology are that the data stored in this technology cannot be changed by anyone. The data is verified by many computers and added to the blockchain's ledger. Since cryptocurrency is a type of digital currency, it is managed through blockchain technology for its security. Blockchain and cryptocurrency are related to each other so they cannot be called same. Blockchain technology is used to record data and cryptocurrency is used to buy goods and for investments.

Finally I've answered all of the questions in my own words. I'm trying to my best to answer all the question. If I wrong in any concept, please correction me. I appriciate your patience. Thank you so much for reading my post.