What Can a Blockchain Do?
Internet commerce is becoming more popular every year, but it is hindered by the threat of
hacker attacks and distrust of partners by competing with traditional business. This problem is
solved by the new database technology - Blockchain. These databases do not have a single
control center, operations are confirmed by other network members, so they are immune to
hacker attacks and allow verifying the truth of information about a partner - this is the future of
Internet commerce.
Blockchain - a new kind of databases without a single center
Blockchain is a database, that is, an electronic information store, similar to an entry in an Excel
file. For example, in bank bases it is written how much money lays on accounts, and in a
database of police - who and when broke rules. A similar principle here, unlike traditional
databases, in Blockchain the information is not in a single store, but is written to each
participating computer on the network. Blockchain technology registers transactions in such a
way that they can not be deleted or rewritten afterwards, the information is only consistently
updated. Therefore, the data is written in the form of a chain of updates, not a table. You put
100 dollars on the account, and a database with this information appeared in the database. Then
you sent someone $ 50 and put another 100. But in the first block information about the amount
of money will not change by 150 - two new blocks with updates will be added. Each of them has
its own code, indicating a link to the previous and next blocks.