WHAT IS BLOCKCHAIN ?

INTRODUCTION:
A blockchain is, in the simplest of terms, a time-stamped series of immutable record of data that is managed by cluster of computers not owned by any single entity. Each of these blocks of data (i.e. block) are secured and bound to each other using cryptographic principles (i.e. chain).


SCOPE:
The blockchain network has no central authority. It is the very definition of a democratized system. Since it is a shared and immutable ledger, the information in it is open for anyone and everyone to see. Hence, anything that is built on the blockchain is by its very nature transparent and everyone involved is accountable for their actions.

A blockchain carries no transaction cost. The blockchain is a simple yet ingenious way of passing information from A to B in a fully automated and safe manner.

One party to a transaction initiates the process by creating a block. This block is verified by thousands, perhaps millions of computers distributed around the net. The verified block is added to a chain, which is stored across the net, creating not just a unique record, but a unique record with a unique history. Falsifying a single record would mean falsifying the entire chain in millions of instances. That is virtually impossible. Bitcoin uses this model for monetary transactions.

The blockchain database isn’t stored in any single location, meaning the records it keeps are truly public and easily verifiable. No centralized version of this information exists for a hacker to corrupt. Hosted by millions of computers simultaneously, its data is accessible to anyone on the internet.

“Blocks” on the blockchain are made up of digital pieces of information. Blocks store information about transactions, about who is participating in transactions and information that distinguishes them from other blocks. Much like people have names to distinguish us from one another, each block stores a unique code called a “hash” that allows us to tell it apart from every other block.

CONCLUSION:
Blockchain is the future of internet due to its guarantee of security and protection of information. But the technology also poses several disadvantages as it is a threat to the present business model of several service providers and banks, as the blockchain technology eliminates the transaction cost. Hence the disadvantages must be addressed before adopting the technology in large scale.

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JK 370 Bill moved by Shree Ramnath kovind

ஜம்மு காஷ்மீர் ஷரத்து 370 & 35A பற்றிய முழு தகவல்கள் ஆதி முதல் அந்தம் வரை

Jammu and Kashmir 370 | 35A Part -1
https://youtu.be/A_52PckV_eA

Jammu and Kashmir 370 | 35A Part -2
https://youtu.be/JFIWcD-YzSU

Constitution of India vs Jammu Kashmir
https://youtu.be/qq8_bKFlrC0

Rajya sabha Bill:
https://youtu.be/JM_s0LSkIrY

Jammu and Kashmir Geography:
https://youtu.be/YwA544H8wEU

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