Blockchain Technology and Way to Use It

It is a database distributed over the network on a large number of computers, and when a record is sent to this database it is difficult to change it, and to ensure that all copies of the database are compatible and that they are identical, the network performs continuous checks, and the blockchain is used mainly for digital currencies On top of it is bitcoin. 

How the blockchain works

1. Business process registration

Let’s take an example that Mr. Samer wants to sell two of his currencies to Mr. Walid for $ 100. The record of this deal contains all of its details, including the digital signature from both parties.

2. Check the deal and get confirmation

The transaction is examined by the network, where the computers on the network called the Nodes contract to verify all the details of the deal and make sure that they are valid.

3. Add the deal to the block

The process of entering records whose approval has expired into the block begins, with each block having a unique special number called Hash and it also holds the number for the previous block in the series. You can visit website bitcoin-optimizer.com below:

4. Add to series

When the block declares that it is ready, it performs a verification process that matches the number of the previous block in it with the actual number of the previous block and upon confirmation it is added to the chain 

The unique numbers that each block carries includes the security of the block information … The process of creating a unique hash number for each block is essentially dependent on the block content and the content of the records within it by performing a mathematical operation that takes numeric information and generates a text string of characters and numbers from it.

First: No matter how large the original files are, the process of generating the block number always creates a number of the same length.

Second: Any change in the original file will be offset by a change in the block number, so if one of them decides to delete a comma from a large text containing 587,287 words, this will lead to completely changing the block number.

Third: Changing the block number hash simply leads to breaking the chain, as we mentioned that each block carries its number and the previous series number and therefore the next block carries the old number of the block that was modified and thus the next block number will be modified, which will consequently lead to modifying the number of the block after the next, so No hacker in the world will be able to perform all the mathematical operations of all the blocks because it requires excellent computer capabilities, so penetration will be impossible.

How to guarantee confidence in the blockchain

Unlike traditional networks, blockchain computers do not have any central computer. In such networks, there is no director who adds only trusted employees to his network. Trusting a computer needs other methods, given that the Calbetcoin network is an open network for everyone and in it Unidentified members, no ways to know if they are trustworthy, the following is followed:

Evidence by action: to add mass to the chain, the nodes must demonstrate that they were implemented, through an increasingly difficult computer puzzle and use this method called large-scale computer power mining, but members here get rewards for their work, for example, bitcoin cryptocurrencies.

Proof by ownership share: Participants buy codes that allow them to enter the network, and the more symbols they have, the higher their capabilities.

Blockchain uses

There are a lot of useful uses for blockchain and we can say that it is the best option in all your information or documents that should not be modified at all. Here are some examples:

Digital currencies: The blockchain is the basis of bitcoin and other digital currencies.

Healthcare: With blockchain technology, patients’ medical history can be stored safely and under patient control.

Voting: A blockchain can be used to conduct safe, fraud-free election processes.

Ownership records: Files of land ownership, real estate, etc. can be saved, which helps to prove ownership in politically unstable areas.