How is built the data system of Blockchain?
Dwain Ross
23 / March / 21
Visitors: 237
Typical data bases are usually stored on the servers of the organization that owns these databases. All people who have access to it (owners or hackers) can easily change and delete data. However, in the case of blockchain data systems, such practices will not work. The reason is that blockchain data structure is based on technology that does not allow you to control the contents of blocks (lists of ordered records).
All data is stored simultaneously on thousands of distributed nodes. Therefore, hackers will have to crack an unthinkable number of computers to change anything. In other words, no external centralized authority or regulator will be able to dispose of information inside the blockchain. This distributed architecture provides almost complete data security.
Another important advantage of the blockchain data system is the ability to record virtually any data: it can be the history of money transactions, the right to inheritance or a medical file. In order for all the necessary data to get into the blockchain, it must first pass a validation test - this is done by the miners. These are people who support a distributed platform and create new blocks providing computing power for the network; they receive compensation in the crypto currency for this. As soon as the operation inside the blockade blockchain verification, it immediately gets into the block and remains in the system forever. Moreover, any user of the network can make sure of the authenticity of a transaction.
Thanks to such features, people have long been predicting the blockchain a great future. Many experts are confident that it really can change the world. First, a huge number of companies can greatly reduce the costs for employees in theory: when implementing blockchain, many occupations (especially those who deal with bureaucracy) may simply disappear. For example, there will be no need for accountants, administrators and notaries who are engaged in paperwork. The decentralized system allows you to easily get rid of useless intermediaries because blockchain will perform all their work automatically.
Even now various branches are beginning to look at the blockchain data structure with particular interest: it is being introduced into banking systems and in property rights registration systems. The statesmen of some countries are also not afraid to develop a distributed data base: for example, the Swedish authorities reported that the local land registry is already testing the technology in order to switch the data base of land plots to it. Tunisia was the first country to introduce blockchain into its currency system. And, of course, we should not forget that technology has long been used in many cryptocurrencies.
In general, there are several types of blockchain: public and private. In public blockchain systems, however, participants do not have the ability to distinguish between the right to access and change data in the data base. Developers, users and miners have control of the open system simultaneously.
In the latter, all rights to create blocks belong to only one organization. People outside the system can only read information but only trusted hosts can manage data bases and other applications. In other words, the process is centralized in this case. Such implementations of blockchain systems are suitable for institutions that work with registries and accounting systems. Private blockchain systems provide interesting opportunities for businesses providing transparent technology for internal use. If you work with contracts, the technology can replace a lot of centralized businesses that exist now. Unfortunately, different blockchain structures cannot fully interact with each other yet because the rules of one can directly contradict the rules of another one.
