What is "block chain"? And why are they becoming commonly used?


Bitcoin, which is the most famous virtual currency and the first virtual currency that appeared, was born in 2009, after that, with the maturity of the Bitcoin market the virtual currency became widely known among the world. But now it's the basis of Bitcoin "Block chainAttention has gathered to those who are technologically.

What is a blockchain, and why is it growing in popularity? | Ars Technica UK

Sweden has adopted a block chain at the new land registry place, and dozens of other startups and block chains are also being used in the European Parliament.

There is a data batch called "block" in that block chain.

This block is connected in a mesh shape, and the block stores not only data but also the wholeValidationIt is also a system to do. Each block of the block chain is designed to construct a complete chain (chain) by referring to and identifying other blocks by hash function, which is also the origin of the name.

The excellent point of the block chain is that it is not managed by a specific organization or terminal because blocks are not stored in one place. Block chains are "distributed databases", because data is present on many computers at the same time, it is possible for anyone interested to maintain that copy.

In addition, the block validation system is designed so that no one can tamper with the data record. To put it correctly, even if new data is processed, old data is kept stored, so that you can recall past data at any time. In addition, since anyone can check data processing done on the block chain within the block chain network, it is difficult for illegal processing to occur.

Block chains are independent, highly transparent and also a permanent database, but from this point they are also called interdisciplinary ledgers (MDL). The origin of this MDL is "1976" proposed in the "Diffie-Hellman key sharingIt seems to be in ".

The disadvantage of the block chain is that it has a distributed nature so that it requires more than a certain machine power for the computers making up the network and it requires a lot of power to operate them. Indeed, it is a think-tank of financial technologyZ / YenMichael Meinelli, who is chairman of the company, said, "I may have heard rumors that Bitcoin will consume Ireland's energy, but this is not the case, as Bitcoin consumes Ireland's energy consumption It's only 50%, "I can tell how hard it is to build a block chain.


Also, since the registry is not managed by a central third party in the block chain, it is possible to quickly examine the data processing from the machine forming the network and all the data. Furthermore, it is no wonder that if it thinks of the potential of MLD it can be adopted by various services across financial services.

Since we can leave the date and location information on which data processing was done, we can quickly identify what kind of processing, when and where it was done, so we can manage the source of valuable assets It is considered to be a new solution to the problem. In other words, the block chain powered up not only to the virtual currency but everythingAudit Trail"It is thought that it can be used as.

in Note, Posted by logu_ii