A Brief Introduction To Blockchain

Introduction to Blockchain:-

A Blockchain is a chain of blocks which is shared with every node in the network, that's why it called decentralized and it acts like a distributed database. In simple word, it runs with the same software & have a local copy of the complete database and constantly sync the data and validate it. 

* How Blockchain Works:-

It General way, any user wants to write anything in blockchain needs a "private key" and a public address, Every transaction commits on that network will be signed with that private key, which is used to encrypt the information in the block. Every time when user do anything on the network it will create a new transaction and a copy of that the transaction will get distributed to every node in the network. If any hacker wants to modify any record then he needs to control 51% of nodes to modify an existing record.

It consists of multiple things which described below.

1. Block : 

A Block in a Blockchain is just an object which includes "a date", "an index", some data( any information ) and a hash of the previous block so that a block can link with its previous block and make a chain called Blockchain.

2. Cryptography :

To make information secure in the block, then we need to encrypt the information contained in the block.

3. Difficulty & Nonce : 

Assigning hash to the Block is not enough, it must be valid also. a hash can be a valid hash if it prefixes with "0000" then it will be a valid hash. It is also called the difficulty, more the difficulty more time it will take to get a valid hash.

4. Genesis Block : 

The first block in a node is called Genesis & then new block create & link to this block, This block doesn't have any hash of the previous block so we need to provide some arbitrary date to create this block.

Thanks