By Carlo Caloisi – Sep 14, 2022
The blockchain is a shared networked, unchangeable ledger that simplifies the process of recording transactions and tracking assets in a commercial network.
It is composed of a blockchain (from which his name is derived) each of which has three basic characteristics:
- Data container: can be, by way of example, transaction data in the case of using a NFT (non-fungible token);
- Hash string, i.e., cryptographic code that uniquely identifies the block and its contents. A new hash is generated each time a block is created;
- Each block contains the hash of the one before it. It is why it is called a chain and it is also why the blockchain is secure, unchangeable; each hash has the information of the one that follows it and the one that precedes it
Added to these three features is proof of work: a series of additional calculations that make hacking even more difficult.
Numerous fields of application: virtual residence (possible in Estonia), energy networks, insurance, real estate, e-voting (anti-election fraud voting), financial transactions.
SOURCES AND IN-DEPTH ANALYSIS
- What is it: https://www.techtarget.com/searchcio/definition/blockchain ;
- The technology: https://www.ibm.com/topics/what-is-blockchain ;
- Application fields between the present and the future:
- BITCOIN: https://www.tiaformazione.org/bitcoin/
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