BlockChain System
Blockchain is a system in which data is distributed between different computers in a secure and transparent manner. It is a digital ledger in which all transactions are stored in blocks, and each block is linked to the previous block, thus forming a chain. supply chain management is being revolutionized in various sectors.
Why Blockchain is Important
Blockchain system is the most secure system in the world. User data and transactions through this system are considered to be the most secure in modern times. In blockchain system, a data is stored in different parts on multiple systems which is very difficult for anyone to hack.
In this system, the identity of the user is his wallet and access to the wallet is by the user making his security public. A blockchain system uses a peer-to-peer algorithm with no middleman company or source. It provides direct transaction and direct transmission of data and it is difficult to hack by tracing the transaction within seconds.
Blockchain has no central authority to control the blockchain system. This is the beauty of the blockchain system is that once the data in each block is stored in it, it cannot be changed again, making it Transparency increases. By using this blockchain syst
Hacking the blockchain is really difficult and impossible because the data in this system is distributed across different computers to form a single solution. Every transaction in this system is secured by cryptography and verified by all the nodes involved in the network.
Therefore, if an attempt is made to change a block in this system, the change is detected in the entire system. Therefore, the blockchain system is a highly secure system
How Blockchain Works
A blockchain system is a decentralized system in which user data is not under the control of a single person or system, but consists of a network of computers that together verify and store data. Blockchain system is known as the most secure digital ledger in modern times.
- The reality and base of this system is on its block system. How do blocks work?
Each block has its own hash, which is a unique code (hash) that identifies it. - Each block stores transactions or data.
- Each new block also stores the hash of the previous block. This makes the previous block secure and easy to use in the verification system
- Each new block is linked to the previous block and works like a chain, hence the system is called a blockchain system.
Decentralization, Transparency, Immutable, Security
A blockchain system has several layers that are used to make it the most secure. In this system, there is a journey up to layer zero, layer one, layer two, layer three, in which the strongest and grounded layer is called layer zero.
A blog will be posted on layer zero very soon but a little introduction is necessary because I think layer zero is as important in this system as the foundation of a building. The stronger the foundation, the stronger and more durable the building will be. Layer Zero is the foundation on which blockchains up to Layer Zero, Layer Two and Layer Three are built and Layer Zero helps verify these blocks.