How Blockchain Works
How Blockchain Works

What is Blockchain? there are three basic elements used to create a blockchain. None of these are new things, but it is a new thing to put these three together and put them into practice.

These three elements are:

Private key cryptography
A shared network is a distributed network
Encourage network operations, record stance and security
Below we will explain how these technologies come together to secure digital relationships.

Cryptographic Keys
For example:

Two people want to operate on the internet
BlockChain users

They both have a private and public key
BlockChain users switches

The main purpose of this blockchain technology combination is to create a secure digital identity. Your identity is revealed as a mixture of private and public cryptographic keys that you have.

The combination of these keys creates a useful digital signature at an extreme level.

On the contrary, this digital signature gives you a strong ownership.

blockchain private key ring open key digital signature

Having a strong ownership is not enough to secure your digital relationships. It will remove your authentication problem in the meantime, but you still need to be able to approve transactions and authorities. (Delegation).

Distributed Network
The usefulness of a distributed network and the need for this network type can be understood by the idea of ​​a tree falling in the forest.

If a tree falls in the forest and the cameras record it, we can be sure that tree falls. Because, even if we do not know exactly why or how it falls, there is a visual proof that it has fallen.

In Bitcoin, blockchain, there are verifiers spread over a very wide network instead of the above mentioned cameras. When these authenticators are something, they provide a consensus that they see it in the same way and in the same way. But instead of a camera, they use mathematical verification.

In short, the size of the network is important to ensure network security.

This is one of the most attractive features of the bitcoin blockchain. It has an incredibly wide network and a great deal of processing power. During processing Bitcoin is protected by 3,500,000 TH / s processing power. This number is larger than the combined transaction volume of the world’s top 10,000 banks. Ethereum, still two years old and still in the test phase, is protected by 12.5 TH / s processing power, which is bigger than Google’s transaction volume.

Recording system
databases we know 2

When cryptographic keys are combined with this network, super-useful digital interactions occur. This process starts as follows: A party takes the private key and makes a kind announcement – that BitCoin sends some crypto money – in the case of Bitcoin – to B’s public key.

A block containing digital signatures, timestamps, and relevant information is then broadcast to all nodes in the network.

Network Service Protocol
A realistic person can oppose the forest dropping experiment we have given above with the following question: “Why wait for a million computers in the forest to record that a tree will fall? In other words, how do you adjust the processing power to provide network security? ”

In open and public blockchainers this happens with mining.

In Blockchains, you may receive prizes for your computer’s processing power if you decide to serve the network. In other words, the personal interests of the people are helping to provide the services of the community.

The purpose of the protocol in Bitcoin is to check whether the same bitcoin is being used for different operations at the same time, and this is a very difficult task.

Bitcoin looks like this from the bottom of any asset. Bitcoins must be unique so valuable. To ensure this uniqueness, it keeps track of every Bitcoin process that is done by solving proof-of-work mathematical problems with the knot that serves the network.

So he votes with a kind processors (CPU). They either accept new blocks, or reject them because they are invalid. When the majority of miners have the same decision, the chain adds a new block. This blot is a timestamp, and sometimes it can be data or a message.

Sample blocks chain:
The type, quantity and validation of each blockchain may be different. It depends on the protocol of the blockchain, or the rule applied if it is valid or invalid. Each blockchain verification process can be unique. New rules can be added if the nodes have a majority vote on how to verify operations. So everybody has a taste for herself and people are just discovering their pleasures.

At the moment, we are in a blockchain environment where these discoveries are often made. But so far the only result from these exposures is that we still do not understand all the tricks of the blockchain protocol.


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