Explore a Buzzword Topic - Blockchain
When Satoshi Nakamoto introduced the bitcoin, and when bitcoin hit all time high, the world was intrigued by this concept- BLOCKCHAIN!
As the name says, blockchain is nothing but a chain of blocks, the blocks of data which are cryptographically connected to each other. Each block has their own unique hash and the hash of previous block which 'connects' them if that makes sense.
How is this hash generated? The data in the block, hash of previous block and the timestamp are used to generate the hash. As you might have guessed it, if we were to change the data in a block, its hash changes which breaks the chain as the next block has a different 'previous-hash'.
Everyone knows about bitcoin, ethereum, litecoin, etc, but blockchain has much widespread applications in the fields which we would not have imagined. As it makes modifications to the existing data impossible, blockchain can be used at any place where we need a single source of truth. Banking, government registries, supply chain, and what not!
Many teams and governments around the world are trying to leverage this technology to tackle issues such as frauds in land registries, unreliable elections, erc.
Log in or sign up for Devpost to join the conversation.