Partner links

blockchain

“Blockchain” is the newest term to enter the tech industry’s buzzword repertoire. Whether a company is processing sub-second banking transactions or transporting artisanal goat cheeses across state lines, it seems as though any company not investigating this technology, the same technology that powers infamous cryptocurrencies like Bitcoin, will surely go the way of the dodo. But what is this magical “blockchain” and how can a technology commonly associated with dark and scary cryptocurrencies ever be used to change entire industries as we know them? Well, let’s find out!

“Blockchain” Overload:

Much like the term “cloud”, the term “blockchain” is heavily overloaded and oftentimes used incorrectly. Without delving into the historical origins behind the confusion around the term itself, let’s understand exactly what a blockchain is.

A blockchain is list of transactions that’s stored on many different machines. Sometimes called a “distributed ledger”, modifications to this transactional list are replicated to all connected machines or “peers” very quickly. A blockchain is implemented as a piece of software; in theory, this software contains a local database with its own replicated dataset, capable of notifying other peers when data is changed and guaranteeing that all peers maintain the same data.

While each blockchain implementation is different, most provide key pieces of functionality beyond the ability to store an identical list of transactions on multiple machines; they can also provide permission systems for who can read and write transactions, and perhaps most importantly, they can cryptographically guarantee the validity of transactions, making malicious modifications either glaringly obvious or outright impossible.

It’s important to understand that there is no single “blockchain” in computing much like there is no single “cloud”; rather, a blockchain is a peer-to-peer network with a distributed ledger that’s created by running the same software on many different computers

What About Bitcoin?:

You’ll learn more about that by clicking here.

blockchain

Share:

Share on facebook
Facebook
Share on twitter
Twitter
Share on pinterest
Pinterest
Share on linkedin
LinkedIn

Partner links

Newsletter: Subscribe for updates

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Get the latest

On social media

Security distros

Hacker
Linux distros for hacking and pentesting

Crypto mining OS

Bitcoin
Distros for mining bitcoin and other cryptocurrencies

Crypto hardware

MSI GeForce GTX 1070
Installing Nvidia GTX 1070 GPU drivers on Ubuntu

Disk guide

LVM
Beginner's guide to disks & disk partitions in Linux

Bash guide

Bash shell terminal
How to set the PATH variable in Bash
Categories
Archives
0
Hya, what do you think? Please comment.x
()
x