Briefly about blockchain: the essence of the technology
Posted: Wed Jan 22, 2025 6:33 am
Let us recall that blockchain is essentially a technology for building databases, but "tweaked" to the point of allowing trusted use. The use of blockchain technology allows recording all completed transactions and does not allow unnoticeable changes to previously posted data. The direction has been known for a long time: the first theoretical works in this area appeared in 1982.
In the early nineties of the estonia whatsapp number database last century, the basic principles of the blockchain (distribution of the database and unification into blocks of data on the authenticity of the document) were developed, based on even earlier mathematical concepts. Mathematicians described the technology of sequential creation of data blocks, in which the certificate of authenticity and information on the generation date are recorded, using cryptographic algorithms and a tree of hashes. However, at that time there were no technical possibilities for the implementation of this technology, they appeared already in the new century.
Satoshi Nakamoto brought the blockchain to a tool ready for use in the industry while working on Bitcoin. Working tools for decentralization were added to the "chain" technology - when each block stores data about the previous one, which makes it difficult to forge. As a result, the system automatically confirms the correctness of the next block - based on the consensus of the nodes of the distributed network - which makes verification by a trusted agent-administrator redundant.
Briefly about blockchain: possible applications
Blockchain solutions can work both in a public and closed network, and hybrid implementations are also possible. When implemented in a closed network, the solution loses some important general features (for example, stability due to decentralization), but at the same time gains additional ones (for example, in a closed network, different levels of access to the database can be implemented and different levels of encryption can be applied). Blockchain has its limitations and alternatives. For example, the trustworthiness of information can be ensured by the presence of the mentioned agent-administrator in the person of authorized structures (government, banking, etc.), only their work will have to be paid for.
Eliminating agents from the process — which is what blockchain allows — makes it possible to achieve significant savings in a number of tasks. Blockchain is actively used to store digital information about assets. These can be both financial and non-financial assets. There are many examples of non-financial assets: rights to digital images or in-game objects, cryptocurrency, etc. Blockchain technology allows you to create solutions that record the assignment of unique information to an asset about its ownership by a specific person, which is almost impossible to forge, delete, or change unnoticed.
Instead of a conclusion
Metaverses, Web 3 and other areas of blockchain application are not yet popular in Russia. Cryptocurrencies or non-fungible tokens - and blockchain is necessary for them - are more in demand, but this is not the main application of the technology in question.
The most promising at the moment are smart contracts, which also require blockchain. Such solutions - they are also called "smart", self-executing or digital contracts - have begun to enter the practice of the largest financial organizations and receive legislative regulation.
To be continued
In the early nineties of the estonia whatsapp number database last century, the basic principles of the blockchain (distribution of the database and unification into blocks of data on the authenticity of the document) were developed, based on even earlier mathematical concepts. Mathematicians described the technology of sequential creation of data blocks, in which the certificate of authenticity and information on the generation date are recorded, using cryptographic algorithms and a tree of hashes. However, at that time there were no technical possibilities for the implementation of this technology, they appeared already in the new century.
Satoshi Nakamoto brought the blockchain to a tool ready for use in the industry while working on Bitcoin. Working tools for decentralization were added to the "chain" technology - when each block stores data about the previous one, which makes it difficult to forge. As a result, the system automatically confirms the correctness of the next block - based on the consensus of the nodes of the distributed network - which makes verification by a trusted agent-administrator redundant.
Briefly about blockchain: possible applications
Blockchain solutions can work both in a public and closed network, and hybrid implementations are also possible. When implemented in a closed network, the solution loses some important general features (for example, stability due to decentralization), but at the same time gains additional ones (for example, in a closed network, different levels of access to the database can be implemented and different levels of encryption can be applied). Blockchain has its limitations and alternatives. For example, the trustworthiness of information can be ensured by the presence of the mentioned agent-administrator in the person of authorized structures (government, banking, etc.), only their work will have to be paid for.
Eliminating agents from the process — which is what blockchain allows — makes it possible to achieve significant savings in a number of tasks. Blockchain is actively used to store digital information about assets. These can be both financial and non-financial assets. There are many examples of non-financial assets: rights to digital images or in-game objects, cryptocurrency, etc. Blockchain technology allows you to create solutions that record the assignment of unique information to an asset about its ownership by a specific person, which is almost impossible to forge, delete, or change unnoticed.
Instead of a conclusion
Metaverses, Web 3 and other areas of blockchain application are not yet popular in Russia. Cryptocurrencies or non-fungible tokens - and blockchain is necessary for them - are more in demand, but this is not the main application of the technology in question.
The most promising at the moment are smart contracts, which also require blockchain. Such solutions - they are also called "smart", self-executing or digital contracts - have begun to enter the practice of the largest financial organizations and receive legislative regulation.
To be continued