If you know about IT (Information Technology) then you probably know in the ware of Blockchain. If you do not know then believe me, this article is going to be very useful for you. What is Blockchain i.e. what is Blockchain, how does Blockchain Technology work, how and where did Blockchain start? Know all this in detail.
For the last few months, Digital Currency i.e. Cryptocurrency has been very much discussed. You must have also heard about it somewhere, otherwise, at least what is bitcoin, etc. So what is all this and why are we talking about Cryptocurrency here right now. Friends, the reason for this is simply that we understand anything better when we try to understand it with an example. What is Cryptocurrency or Bitcoin and why its price is increasing so fast, all these will also help us to understand Blockchain. So let us now know what is Blockchain i.e. what is blockchain?
A few years ago, as the internet had changed the way the world looked, Blockchain is also going to do something similar in the coming days. Although Blockchain is not a new concept, but still we have some problem somewhere in understanding it. But we will know in detail what is Blockchain from its inception to its future.
What is Blockchain in simple language
Blockchain is a method or system in which data / information is stored and kept, which cannot be hacked, changed or any kind of fraud.
Who Invented Blockchain Technology?
David Chaum, who was a cryptographer, gave his thesis for the first time in his dissertation in 1982 in Ware of Blockchain. But what is Blockchain, this question came on everyone’s tongue in the year 2008. Because this year Satoshi Nakamoto created Bitcoin on Blockchain technology. It became the world’s first digital currency, which is also called cryptocurrency.
The motive behind making this saree has the potential to change the world. By removing the banking system of the world’s banking system, the cryptocurrency saree made by the technology of Blockchain can make you, me, all of us the owner of our own money. We will not have to deposit our money with any bank or government.
Who is Satoshi Nakamoto, where is he coming from, whether he is a person, male or female, is it a ritual or something, no one knows anything. But in today’s date Bitcoin mining is happening and it is getting great respect in all Biswa. The basis of Bitcoin is called Satoshi.
How does Blockchain work?
This question must have come not only in you but in everyone’s me at some point or the other. By the way, how does Blockchain work? Let us understand through an example.
Suppose some children are playing cricket. He and another child who was not playing, he has been made umpire. Umpire is also remembering all the scores of the game. Now it is not necessary for the umpire to remember the sari things properly. He may forget, or the figures may be wrong etc. At the same time, if all the children themselves remember the scores, then if any one forgets, they will remember the rest. That is, everyone is remembering one information.
Here that umpire is the centralized system and the technique of remembering all the children together is the decentralized system. In Decentralized system, one information is saved/stored in thousands of millions of computers/servers. That is why they remain very secure.