In recent years, many analysts and technology experts have felt the word Blockchain for all its attractions; it is the technological revolution. However, its use does deeply tie to the digital bitcoin currency. Of course, this technology offers considerable advantages beyond the economic sphere.
But what is Blockchain about, and what are its benefits?
Surely you have heard of Blockchain, a technological word that almost always appears associated with Bitcoin, a cryptocurrency you have undoubtedly heard where Bitcoin and mortgage lending exist.
Blockchain is much more than bitcoin; it is vibrant information technology or protocol with much mathematics.
To explain how it works and some of the math that makes them better. What the Blockchain consists of, we must know how it works; it can do use for a thousand things, so in a nutshell, it is an information storage system, safe, anonymous, decentralized, and free of falsifications. That is possible thanks to mathematics.
The Blockchain Name
It means blockchain. The blocks are files, typically text files containing the information we want to save; they form a chain because each block has information about the previous block, which is about the last block. So it’s in turn on the previous block And so on until the first block of the chain to the information that each block has we call it HASH it is a super important serial number and for which you need mathematics.
The second ingredient of Blockchain is a computers network; all the computers on the web keep a copy of the Blockchain; no one has the information on its own, and the others look for it there, as happens with the servers of the data passes. , here everyone has their copy of the information, and so it is more difficult for it to be lost, which makes Blockchain decentralized and is the key to its success,
Blockchain is a chain of files with relevant information that is stored replicated in a lot of computers that only form a network, and not only that, the knowledge of the blocks is encrypted. Only the person who created it can see it; for this, as we imagine, these are the mathematics, precisely public key, and private key cryptography, which makes it secure and anonymous.
Now two essential things are significantly related; how do you add a block? And how do we make sure that all the network nodes have an exact equal copy of the Blockchain? The key is in the X of the blocks and in some particular network nodes called miners.
When a new block is ready to be added to the chain, the miners receive a notice to add the block to the network. It is only necessary for someone to calculate the X and add it to the block; the first one to get it notified does verify that everything is ok and get a prize.
As you can imagine, finding the X is not easy, so as soon as the notice of a new block goes off, the miners begin to compete. The X has to do with the hashes of each block. It’s the serial number we’re talking about; this is where the math comes in.
A hash function is a mathematical function converted into an algorithm that receives a text file, letters, numbers, and all that and assigns a number to it so that first, the number depends on the text.
If you change a comma, one a letter, a space whatever, the result has nothing to do with it two the way to assign it has to be very complicated, that is. If they give you the final number, it is impossible to know the text it comes from, which is what miners do in the Blockchain.
The SA256 algorithms are very secure and are used from packet verification to internet security protocols or even in international courts; whoever manages to mine that block is awarded a prize.
Conclusions
Blockchain is an accounting book; it has characteristics such as the chain of blocks where the users (called miners) are the real protagonists and those entrusted with executing and visualizing the operations.
Blockchain applications are unimaginable; they are already tested in other places such as health, including the internet, to see reliability. Nevertheless, it is a compelling technology, thanks to Hash’s mathematics.
