What is blockchain?

What is Blockchain?

Blockchain is built from layers rather than in one big piece. Cryptographic algorithms and data structures are part of the lowest layer of blockchain technology. Blockchain blocks hold information like metadata and transactions. Hashes are used  to bind blocks. These hashes constitute the chain in blockchain. Once a blockchain is set it is hard to modify. Blockchain uses public keys like in asymmetric cryptography but if the cryptography is effective, the first layer should be secure.

Blockchain consensus likes to create party unity without a central digital ledger. Blockchain uses consensus algorithms but the algorithms are flawed. Blockchain security can fail, allowing outside entities to take control of a blockchain network. Blockchain is entirely dependent upon security that uses cryptographic algorithms and protocols. It doesn’t trust individuals or a centralized digital ledger. 

Asymmetric Cryptography

Having a strong hash function is critical. It’s nearly impossible to find blocks with the same hash value. This is because the header of the last block is stored in the next block. So, if someone wants to create a fake individual block, they have to also create all of the blocks that come after it, which is very difficult. Asymmetric cryptography, also

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