Beginner Guide of Blockchain Technology: Simple & Easy Guide of Block Chain

By Matthew Roy

What is Blockchain?

The beauty of Blockchain when it comes to protecting our data is that there is no single creator. Entries are added and checked by different contributors and so a "block" of transactions are created. The security of this system is due to the fact that multiple verifications are carried out. Also, as the data is stored in blocks from different sources, rather than as a single entity, the system's security is increased further. - actually, it is virtually impossible to hack or amend the data in the system because there are so many people inputting and checking it.

Building a house is a good analogy for how the system works - first, the foundation is laid and checked for sturdiness. When this has been deemed satisfactory, bricks are added one at a time to make up the walls of the house. A building inspector will check that the building is being carried out properly and give clearance for the project to continue. If one of the builders decides to make changes, they have to do so with the permission of any others involved in the project. No one person will build the entire house - you will need to call in roofers and plumbers, etc. and each will do their bit - and so you have a lot more eyes on the project.

By the same token, Blockchain uses different makers and checkers. Each individual is given part of the information to input or check. No one person in this process has access to all the data and, most of the time, they will not even be aware of what it is that they are inputting as a whole. As a result, they never receive the full details necessary to enable them to misuse the information for crimes such as identity theft. In addition, the maker and checkers' IP addresses are recorded making all data input traceable.

Each person does their bit and inputs their bits of data, thus building up the whole. The transactions are linked via a timestamp to the block preceding them. In addition, the data is spread over a number of different computers so that even if one has been compromised, the data is safe.

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• Format: Paperback
• Language: English
• ISBN: 1091176086
• ISBN13: 9781091176089
• Release Date: January 1
• Publisher: Independently Published
• Length: 52 Pages
• Weight: 0.18 lbs.
• Dimensions: 0.1" x 6.0" x 9.0"