What is a blockchain?

Blockchain (from English Block Chain, “Blocks”) is a distributed database that any person can get access to access. Otherwise, it is called the “distributed registry technology”, since there is no centralized body or regulator that could dispose of the blockchain at its own discretion.

How the blockchain differs from the classic database?

The classic database is stored on specially for it intended servers, which are controlled by the organization that owns this database. The blockchain is not controlled by any one person or organization, and its safety is ensured precisely by its distributed architecture. If part of the computers on which the blockchain is stored will be hacked, this will not affect the work of the entire system, which is unthinkable for the classic database.

How the blockchain works?

Theoretically, any data can be recorded in https://gagarin.news/news/trend-micro-experts-talked-about-security-problems-in-metaverses/ the blockchain – from cash transactions to a complete collection of world literature. In order for the data to get into the blockchain, they must be verified, that is, to be checked for authenticity. In the case of bitcoin and money transfers, the so -called miners are engaged in this. Having checked the transaction for validity, they write it into the block, after which it remains in the blockchain forever, and anyone can verify its authenticity. Moreover, any such transaction should receive several confirmations from independent sources before it is considered real.

Where the blockchain is stored?

Blockchain can be stored anywhere, and stored everywhere. There are special nodes (nodes) of the network that store the full current version of the blockchain, while the rest of the nodes simply turn to them if necessary to check something. You can download the full version of the blockchain from open sources, then it will be stored and you have.

Why is there such a hype around the blockchain?

Blockchain is often compared with the Internet due to its ability to change the world. Now people need to contain a huge staff of lawyers, notaries, regulators, bankers and other bureaucrats in order to certify and confirm events, for example, paying salaries or selling an apartment. Blockchain technology is able to perform all their work completely automatically, thereby eliminating the very need for intermediaries.

And where now the blockchain is used?

Blockchain technology is used in almost any cryptocurrency, providing its work. The blockchain also begins to actively introduce into banking systems, property registration systems and various state registers, management of supply chains, and in areas such as digital identity, energy, voting, games, the Internet of things, etc. D.

What is the difference between an open blockchain from a private?

Open blockchain is available to everyone, and private – only chosen. There may be a lot of different blockchains, some of which are open, while others are closed. They cannot yet interact, since in each blockchain you can introduce its own rules of work, and the rules of one blockchain can directly contradict the rules of another.

How can you force several blockchains to interact?

To solve this problem, a variety of options are offered. The most popular of them are the so -called side chains, “side chains”) – special blockchains. The latter are needed exclusively for connecting one blockchain with another bypassing a possible contradiction between their rules.