What is Blockchain?
What is Blockchain?

Blockchain can be translated as a block chain in Turkish. It is a distributed database system that provides cryptographic data management when viewed roughly.

Blockchain technology is not much different from other systems you have encountered before. With Blockchain, many people can type in information records, and users can see how their information records are changed or updated. An example of this is the Wikipedia site. Writings are not the product of a single person. So information is not monopolized by a single person.

However, these similarities with Wikipedia are roughly what they seem to look like. When we get down to business, blockchain technology becomes more distinctive. Wikipedia is based on the World Wide Web (WWW) protocol, using both client and server architectures, both running over distributed networks.

If there is authorization, a user can change the Wikipedia scripts found on the central server, and whenever a user accesses the Wikipedia page, the original copy becomes the updated version. The control of the database remains in the Wikipedia administrators so that access and authorities are maintained by the central authority.

databases we know

Wikipedia’s digital backbone is similar to the highly protected and centralized databases used today by governments, banks, and insurance companies. It is the site owner, including control of centralized databases, updates, access and protection against cyber threats.

The original copy of Wikipedia is edited on a server and all users are new. With Blockchain, every node on the network will deliver the same result. They all update the registered information independently of each other, and the most popular record becomes a formal record. The processes are published and each node creates its own updated version.

That’s exactly what makes Blockchain technology so useful. This difference represents an innovation in the recording and distribution of information by removing the need for a reliable side to facilitate digital relationships.

databases we know 2

Despite all its benefits, blockchain technology is nothing new. We can say again that it is a combination of several technologies that have already proven their usefulness. What made the idea of ​​Bitcoin’s creator Satoshi Nakamoto so useful was the combination of three technologies in particular:

Private key cryptography
Protocol governing incentives
The result is a combination of these: digital money transactions can be made without the need for a reliable third person. What secures digital relationships is that the blockchain technology is based on a simple yet powerful network structure.

Define Digital Trust
The concept of trust is a risky decision among different parties. In the process of deciding whether you can trust someone in a digital environment, the job usually ends without learning your identity and authority.

So what we want to answer is actually the question “Are you really the person you said?” And “Should you be doing what you are trying to do?”

From Blockchain technology, private key cryptography gives you ownership. This ensures that authentication requirements are met. So you do not have to give too much information in front of you, you have to give it to introduce yourself. In this way you are also getting rid of a possible hacker attack.

Identification is not enough. Authority needs a sparse network, with things like having enough money, doing things with the right kind of money. A distributed network reduces the risk of a centralized corruption or error.

This distributed network must also be used for the storage and security of transaction network records. Authorizing a money transaction occurs as a result of fulfilling the rules that the whole network has designed to comply.

Identity authentication and authorization in this way removes the need to trust your opponent when performing digital money transactions. Nowadays, entrepreneurs of industries all over the world have noticed the effects of this development. Unimagined, new and powerful digital relationships are now possible on this vantage point. Blockchain technology is often described as the backbone of money transactions on the Internet.

In fact, the idea that cryptographic keys and common books can encourage users to establish secure and formal digital relationships is of great interest. Every kind of environment, from governments to data processing companies to banks, is eager to get this money handling system.

Authentication and authorization, which are crucial to digital transactions, have been built with the configuration of blockchain technology.

This idea can be used wherever a reliable recording system is needed.


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