For many, it has become prevalent to hear the term blockchain when talking about the digital market. However, the most direct relationship that this new concept has is Bitcoin Revolution; there are many aspects that this technology covers.
The fact of simplifying daily transactions in a particular area of both public and private companies makes the proposal more attractive, to the point that it is a profitable investment over time for government entities.
Through blockchain technology, any information that needs to be stored and shared publicly while unalterable can be stored quickly and unlimitedly.
With the appearance of cryptocurrencies, not only the positioning of these digital currencies was achieved, but also the ambitious platform that supports them. That is why the advantages offered by this technological tool can be beneficial in various daily aspects.
Although the time that this new technology has been in the digital market is short, the benefits and uses that it has demonstrated are enormous. Being a decentralized platform where intermediaries do not appear allows for generating greater trust among its users.
Blockchain Definition
Blockchain technology is a platform that allows the recording of various operations or transactions simultaneously as a backup of all the information that may be generated in a particular network that is connected through nodes or blocks.
These blocks are in charge of passing information from one to another in a fast, secure, and, most importantly, decentralized way.
In addition to storing transaction data, these blocks are responsible for saving relevant data that makes each process a unique and unrepeatable record. Combined with the encryption technique, they provide greater security, making these blocks incorruptible.
Attempts to hack or modify any transactions are detected immediately, automatically producing a rejection reaction where this type of manipulation is evident.
An important fact worth noting is that the older the node or block, the greater its security. Therefore, trying to alter it becomes practically impossible since the previous or later blocks of the chain would have to be modified.
Types of blockchain that exist in the digital world
Currently, there are three types of blockchain, which have been identified by their users and arise from the functionality that is given to them.
The first two types of blockchain give rise to the third, a mixture of the other two.
- Public blockchain
- Private blockchain
- Hybrid Blockchain
This classification makes it possible to publicize a platform that, although it is the basis for each of the branches generated from it, does not have any rivalry since they are for the exclusive use of networks that their users only access.
One of the characteristics of the three blockchain classifications is that they all work through mathematical algorithms that, once validated, allow the execution of transactions.
1. Public blockchain
This type of network bases its operations publicly; it is used mainly by digital currencies, where the most excellent transparency and security are needed in the transactions executed.
When talking about a public blockchain, any user can access the information and validate the operations carried out with the other participants.
Miners use this network to be able to develop Bitcoin and Ethereum mining.
2. Private blockchain
This type of blockchain is controlled by user access, only those who have previously been invited to be part of the private network enter.
Carry out an operation in a private network; the participants must be authorized since creating a block does not originate without having been supervised.
The use of these networks is limited to companies, corporations, or businesses that wish to keep private records of the activities carried out in them and where only interested and authorized parties will have access to the information.
3. Hybrid Blockchain
These networks are formed from the union of the protocols that public and private Blockchains have, where the main objective is to provide companies with an additional level of security.
Conclusion
The blockchain is a complex system in terms of information storage because its operation must be monitored by specialists in the computer area, managing to transmit the information to the participants most straightforwardly and transparently the process according to their typology.
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