This My Entri For BLOCK-CHAINS | A Conspiracy Writing Contest IV
what is the blockchain ?
Blockchain is a technology introduced with Bitcoin by one or a group calling itself Satoshi Nakamoto which was originally used to record the financial transactions of bitcoin.
Simple blockchain is a data structure that can not be changed can only be added only. Each data from this blockchain is connected where if there is a change in one of the data block it will affect the next data.
This technology underlying the record of Bitcoin transactions, every new Bitcoin mining results or sale and purchase transactions or transactions using Bitcoin will be recorded on a computer network. Each note is exactly the same so it is difficult to be hacked by hackers.
"Blockchain", Internet Security Technology in the Future
This technology was created by Satoshi Nakamoto (until now no one knows who actually Satoshi). BC Bitcoin network is estimated to reach millions of computers.
Right now in the financial field such as transaction records that we do will be recorded on a server or multiple servers. Surely this server has a strong defense and always back up.
But if there is a hacker who wants to try to break through this defense is not impossible this record can be hacked and changed. Banks themselves sometimes hire White Hackers to conduct attacks in order to know the weakness of his defense.
Blockchain does not rely on just one server but a computer network. This network always re-checks the data stored on each network computer.
Until now, Blockchain Bitcoin has never been hacked. Some of the events that exist, is hacking to individual Bitcoin owners. Not against Blockchain.
IBM one of the leading technology companies has started developing their version of Blockchain.
By storing data in the network according to Blockgeeks.inc there are some things that become advantages:
Not controlled by one entity, so it is not easy to hack
Transparent, data stored in multiple places ensures transparency. For example it is difficult to make dual bookkeeping.
Difficult to manipulate, manipulation of a single computer or record is easy. What about if it is recorded on thousands or even millions of computers?
Internet progress is causing more and more people to connect. Internet Of ThingsWill make more and more people connected.
These are all related to data that can be misused. Yahoo is a very big company in its day, recognizing that there is hacking of their email accounts. A small hack of about 3 billion accounts.
Blockchain technology I think will be able to answer how companies and personal future secures its data. Using a distributed and continuously verified record will be difficult to hack.
Not only that it is possible that this technology can create new business. For example a photo, by putting it in a Blockchain everyone who wants to use it must pay a royalty that may not be large but can be a decent income.
Did not rule out this technology can allow all people who connect to the internet can make transactions to the world. Without being restricted by a bank or territory.
The more advanced technology. Preparation for adjustment becomes important.