Blockchain won’t get you

Blockchain won’t get you

Hello Concurseir!

From now on, I warn you: Today I am going to make a fresh start Thread With you Let’s talk about it Blockchain – That’s why he can’t catch you!

Blockchain is a “trend topic” in the business world. Since its inception in 2008, in terms of Bitcoin, its application has been grounded. Currently, companies like binance, pixbet and others Players Of the global ecosystem Blockchain Our Brazilian football sponsor team.

But this issue has left the business world and entered the world of competition. This is partly due to the fact that a number of government and non-government organizations are already using and implementing products / services Blockchain.

Definition

First, let’s go to settings:

Blockchain is a data structure organized in a chain of blocks. In other words, it is a continuous, growing list of records. That is, d Blockchain Enables the creation of a decentralized digital laser – irrevocable, secure and timestamp – to be shared across a peer-to-peer distribution network of independent parties (known to us).

Therefore, in this data structure, a block is the smallest part of it Blockchain, Represents a set of data. The blocks are then cryptographically connected to an immutable chain. In short, each block usually has a pointer Hash For the previous block, a TimestampA random integer (No.) And transaction data.

See the image below, by my author, which illustrates this data structure Blockchain (Spoiler: There was a question from Cespe that already used a similar image).

Operation

A. Blockchain, Each new transaction is recorded in a shared block and synchronized by multiple nodes without central control. Then, the consensus process provides security to the chain and a way to verify its accuracy, supporting its immutability.

Then Blockchain Stores accurate information in individual nodes. It happens safely for consensual arrangements. Also, only new transactions are added. Therefore, past transactions (or their data) are not changed or removed.

This allows all nodes to track transaction history. Finally, the network transparently divides the chain formed by the entire node. See also the image below, from my own author, which illustrates its operation Blockchain.

Smart deal

In the evolution of technology, around 2015, Ethereum network came up with the concept of smart contract or smart contract. Thus, smart contracts are programmable electronic transactions. For example, these are computer scripts that, when triggered by a specific message, are executed by the system.

In other words, it is possible to define clauses for a transaction through smart contract programming which, once fulfilled, automatically execute the transaction. Blockchain.

Alphabet Soup

Derived from its implementation BlockchainSome ideas or technologies have also emerged, especially DAO, dAPPs and NFT.

DAOs, or decentralized autonomous organizations, are organizations that operate on their own. Blockchain. DAOs use smart contracts to enable their participants to make collective decisions about the organization’s governance, management and leadership, and its effectiveness.

dAPPs (or decentralized applications) are blockchain applications that, due to their decentralized features, do not require any entity / company to guarantee their operation. Once the smart contract rules are defined, the application will work “always” or as long as the network exists Blockchain.

NFT (Non-Fungible Token or Non-Fungible Token) is a type of digital asset transacted online that represents physical or digital products such as pictures, videos, music and game items. These assets can only have one official owner at a time – with 8 registered Blockchain.

Ufa! This “soup” contains many new ideas, definitions and characters. For now, we’re stopping here. In the next post, I will come up with some blockchain issues to comment on.

Let’s go together, unveil the knowledge related to blockchain and see its collection in competition. Blockchain won’t find you – you’ll be ready!

Good study!


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