Blockchain technology is often referred to as Distributive Ledger Technology. It uses cryptographic hash and decentralisation to make digital assets unalterable. It also makes the history transparent. For instance, google doc is an example of block chain technology. Whenever a user creates a document in Google doc, it can be shared with groups of people. Google doc can be distributed within multiple users without copying or transferring the document. A decentralised chain allows its users to access the document at the same time. Users can modify within the document transparently in real time without being locked out.
Blockchain consists of 3 concepts;
Blocks: In every blockchain, there are multiple blocks that have three basic elements.
There is a data in every block. A nonce consists of 32 bit number. It creates block header hash while randomly being generated as a nonce (Aurnkumar 2020).
A nonce keeps generating cryptographic hash when the first block is created.
Miners : Mining is introduced in this section. It is a process of creating new blocks on the chain. Every block has its own unique nonce and hash within a bock chain. Mining blocks in a chain is not easy because there are references of previous block hash in the large chain.
Nodes: Node is considered to be the most important concept in blockchain technology. Node leads blockchain to decentralisation. Node is actually collection of devices that are interrelated to the blockchain. It is distributed via different nodes that are connected to the chain. Node keeps the blockchain network functioning (Robin 2019).
Blockchain is being utilised in various security applications, going from record-keeping to going about as a component of the dynamic information foundation, and more choices likely are not too far off. Blockchain's latent capacity develops, keep that potential in context.
Block chaining is often referred to as un hack able technology. While no intrusive hacks have been noticed yet at this point, it's inappropriate to state that blockchain can't be hacked. To supervise the greater part of a blockchain's register power and degenerate the trustworthiness of the record, indicated that novel strategies can be successful. While this specific assault is costly and troublesome, the way that it was possible implies that security experts should treat blockchain as a valuable innovation - not a supernatural response to all issues (Jessica 2019).
Blockchain provides security protection against the denial of service (DoS) and Distributive denial of services (DDoS). Virus, Trojans, worms and malware create serious threat to the web applications and users. Blockchain technology is being utilised to overcome these issues. Blockchain based antivirus software can update itself in response to the incoming information. Blockchain offers upgraded public keys for more secured encryption. There are always privacy risks in sharing data in a centralised method. Blockchain security provides privacy in personal data, documents, transactions and files (Kianieff 2019).
Blockchain has a nearly endless amount of applications across almost every industry. The ledger technology can be applied to track fraud in finance, securely share patient medical records between healthcare professionals and even acts as a better way to track intellectual property in business and music rights for artists.
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