Blockchain is a decentralized and distributed database in an open-source model, in a peer-to-peer character internet network (a communication model in a computer network that provides all its "hosts" with the same rights), without central computers and without a centralized storage space. It is encoded with the usage of cryptographic algorithms.Innovative and revolutionary blockchain technology is a public and open register that is accessible to virtually anyone. It is fully protected against unauthorized access, however, thanks to the complex cryptographic tools. Blockchain is mainly used for "booking" individual transactions, payments or accounting records. Generally speaking - its basic tasks are: storing and sending information about transactions concluded on the Internet, which are arranged in the shape of consecutive blocks of data.In practice, it means that one block includes information about a determined number of transactions. After its "saturation", another block of data is automatically created, then another block and one more, making a kind of a "chain". In this chain, every 10 minutes a new block appears and is sent, containing information about various commercial transactions, shares or stocks, sales, cryptocurrencies and electronic currencies.The block size depends both on the particular implementation as well as on the characteristics of the specific cryptocurrency. For instance, the size of a Bitcoin network block cannot be bigger than 1 MB, which is a direct result of the BTC protocol specification.Transactions are digitally signed with a public key cryptography. Although the transactions themselves are public, all users remain anonymous for the whole time.Although blockchain technology is currently used to service diverse transactions (trade, currency, stocks), there is an ongoing research on the usage of the blockchain as a banking book, document authentication system, digital signature in government administration, or notarization. All transactions under this technology could take place outside the system that has been functioning for centuries and, therefore, without the participation of public institutions, directly between the parties of the transaction.The blockchain - as the banking book of transactions, with the current technology and computing power of computers - cannot be faked. It is estimated that the power required to break the blockchain network equals... half the Internet!More reliable and valuable information as well as trivia about this cryptocurrency can be found in the Blockchain News category. It includes the most interesting information about the cryptocurrency world, useful for all cryptocurrency supporters. Interesting and extremely useful news available in the articles, make it easier to understand this difficult, constantly evolving industry and the innovative technology that surrounds us.
Mastercard, has joined the ID2020 Alliance, a global company whose main goal is to create a digital identity for every person in the world by 2030. According to the company this would improve quality of life.
One of the most popular cryptocurrency exchanges, Binance, is returning to the Chinese market after China introduced a ban on cryptocurrencies trading in 2017. However, Binance's target this time is returning to China for another purpose. The company will develop and promote blockchain technology.
TradeLens is not slowing down as, some time ago, another large member joined the platform. In what way will blockchain technology help the platform solve the problems associated with the shipping industry?
During the qualifying match (between Estonia and the Netherlands) for the European Championships, the Royal Dutch Football Association tested a new solution based on blockchain technology. How was the experiment conducted?
Experts present on the BlockShow Asia 2019 conference gave their opinions about blockchain, discussing what it represents and what advantages this technology might provide when it comes to national economies or corporations. Let's see what they had to say.
No one can deny that blockchain is a kind of technology that is at a premium. Its potential is used in a great number of industries. The food industry, which has recently developed transparency in food supply chains, is one of them.
On October 26, the Chinese Congress passed a cryptography law, which is supposed to come into force on the 1st of January, 2020. What changes in the field of blockchain and cryptocurrency technology can we expect in this country?
Who would have thought that blockchain technology could be applied in the theater industry as well. It turns out that it is a powerful weapon in the fight against an increasing number of fake tickets. The wave of fraud can finally be tamed!
Walmart, an American retail giant, has announced that, together with IBM, it will run a pilotage, in which it is to take advantage of blockchain technology in order to track the supply of shrimp from Indian producer - Andhra Pradesh.
E-sport is enjoying a significant popularity growth and people are more and more eager to watch players equipped with controllers. How to make this sector even more attractive? Cryptography comes handy!
The number of supporters of the TradeLens platform is constantly growing. In order to increase their efficiency, organizations associated with transport decide to shift away from traditional forms of documentation in favor of solutions based on blockchain technology.
Coinbase is one of the largest cryptocurrency exchanges in the United States. Moreover, its reliability was unwavering until a certain abuse caused the exchange to go to court. The case is still ongoing, there's no end in sight, and the result is still unpredictable.
Amazon is trying to become popular in every possible industry. And, apparently, it is unlikely that the company is going to slow down over the coming years. One of the largest global trading companies is now looking for an engineer that would join the blockchain team.
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