This post is about blockchain. Read the full post to understand.
In a typical time frame, all the encrypted data in the transaction is made in a single block, with the total amount of money or assets traded around the world. A distributed and densralized laser is basically called blockchain, which is completely randomly arranged by that block. It looks like muddy, everything! Here is an example of the block chains we are talking about, Bitcoin Blockchain. Bitcoin is a cryptocurrency that is operated using a blockchain.
In order to record all transactions in the bank, all branches have a large size book. The banks which use banking software, have these records in the database. So, for a valid transaction, you must have the signature of the bank laser. Blockchain is such a laser, where there are many such blocks in one after another. All the data contained in each block, all the data that has been transmitted all over the world at a time. This data is opened but encrypted. Everyone can see this data but to get a private key to read. This means that if you have done transactions here only you can read all the information about your transition from here, using private key, and no one else can. But what people will see is the amount of transaction. But who has come to whom the money cannot be known this way. Because only the address will leave the money. There will be no identity.
The picture below shows how a transaction can be seen. Each block of blockbench is completely irreversible. Once a block is added to the chain, it is impossible to change anything. The blocks are sitting in the order of their creation as well. Every block knows before that there are no blocks. Thus, a block connected with another. Blockchain distributed and decentralized system, that is, all the world's same blockchain users have a completely carbon copy of special blockbusters. So if one or a quarter of the server or computer is nested together, there will be no blockchain.
Cryptocurrencies
Our current currency is cryptocurrency and one type of currency or exchange. That is, the work that can be done with traditional coins, such as dollars, pounds, money etc., can be done by cryptocurrency. This cryptocurrencye is used for transactions through blockchain technology. There are many such coins, such as Bitcoin, BitCash, Monaro, Lightcoin etc. The price of our coins, such as dollars, lbs, and so on, fluctuates from time to time, so also, that is, buying / selling price fluctuates.
So now it is clear to understand what the cryptocarrency means. Let's now discuss the actions of cryptocurrencies.
Cryptocarbon (eg, Bitcoin) is like a network. Each peer has a complete history of all transactions and thus has the balance of each account balance. For example, a Transaction file says, "Simple x gives Bitcoin Alice to the amount" and it is characterized by the characteristic key of Shamasul Huq. This is the basic public key cryptography. After the signing, a transaction spread to the whole network and it was sent from one peer to another. This is the basic P2P technology. Below are the infographics from the idea how blockchain and cryptocarcons work. Clicking on the image will be able to see the bigger.
The transaction is completed very quickly. But after certain time it is confirmed. Much like to confirm by activating an account. This confirmation is very important for cryptococcasins. As long as the transaction is uncertain, it may be postponed and fake. When a transaction is confirmed, it is perfectly set to the laser. It can not be further modified, can not be deleted. That means you can not change the laser information and you can change This process is largely done by blockchain, which has been discussed earlier.
Only the miners can confirm the transition. It's basically the miner's work on the cryptococoncenary network. They take the transition, spread it to the network after laser deposits. Whenever the transaction is confirmed by the miner, it becomes part of the continuous blockbuster. Miners get the tokens (say feats) of cryptococcernes (for example: Bitcoin) for this purpose. Since the activities of Minor's activities are the most important part of the cryptocurrence-system, so we will try to know about miners.
The current regulator is the government and central bank of any country. Considering the central bank may be private or private like the United States, it can create a new currency considering the country's economy and many other things. The new banknotes can be printed directly in Bengal. That is, the regulator can do it on their own, in case of loss of profits, they do not sweat their heads, but they often leave them. For example, we have inflation due to printing more money than required in our country.
But cryptocarbones are completely different. Here the new currency or bitcoin comes every 10 minutes to solve a cryptographic puzzle. And this puzzle competition is through miners.