What is blockchain, and how does blockchain work on the Steemit.com system?

3년 전

View the original post on Musing.io

This blockchain itself is a block network which is the biggest finding after the first biggest finding (internet). In other words, the list of records is growing, interconnected with cryptography. For ordinary people, this accuracy is rather difficult to understand. Because it is widely used for profit. The presence of this blockchain is inseparable from technology that is growing so rapidly.

Maybe for crypto experts it's a bit easier to understand blockchain, and it's very difficult to understand by ordinary people.

In history, this blockchain technology was first introduced by Stuart Haber and W. Stornetta. Currently the first process is carried out on blocks safely using crytographically, precisely in 1991. And then in 1992, Haber and Stornetta collaborated with Bayer to create a formula between trees and blockchain that could increase the number of letters to one block.

Satoshi Nakamoto is the first person to initiate blockchain to become the basis of technology. At that time the distribution was not only carried out by him but also supported by a group of anonymous, right in 2008. In 2008, blockchain technology again became a very popular technology when applied as one of the components of bitcoin (digital currency) which has functions for ledgers from all bitcoin transactions (digital currency).

Therefore, therefore, the use of blockchain makes bitcoin one of the digital currencies capable of being trandring ganta. Only in 2014, this blockchain technology continues to innovate until it releases the blockchain 2.0 version, the usage of which is easier. You can find smart, more sophisticated contracts and allow you to make invoices that can pay for your own fees. It really is amazing.

Simply put, blockchain is a technology or facility for transacting online that is safer, and on blockchain is a data base that has a very wide use. Blockchain is often referred to as a recording system or a database (distributed ledger) containing records of financial transactions that have occurred and are stored on a computer and spread across the network.

the way blockchain technology works doesn't involve other parties, with the blockchain recording system being distributed to all computer networks that have been involved in the system. Uniquely, this ledger is identical or has the same nature. The occurrence of the transaction must be claimed to be carried out by the computer involved cannot be declared valid. When the transaction has been verified, it will be printed on the block that is encrypted with a block of transactions that were carried out previously and also very important from hacking.

Image source: https://www.duniafintech.com/pengertian-teknologi-blockchain-adalah/

Read More here: https://www.andryo.com/id/blockchain/

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!