In recent years, many analysts and technology experts have pushed the word Blockchain for all its attractions; It is the technological revolution. However, its use is deeply related to the digital bitcoin currency.
Escucha este artículo
In recent years, many analysts and technology experts have pushed the word Blockchain for all its attractions; It is the technological revolution. However, its use is deeply related to the digital bitcoin currency. In addition, of course, this technology offers considerable advantages beyond the economic realm. Create a free account on crypto trader as this platform assists people in understanding the market challenges and helps them invest in various cryptocurrencies.
Surely you have heard of Blockchain, a technological word that almost always appears associated with Bitcoin, a cryptocurrency that you have undoubtedly heard of.
Blockchain is much more than bitcoin; it is vibrant information technology or protocol with lots of math.
To explain how it works and some of the mathematics that makes it better, we must know that it is a secure, anonymous, decentralized, and counterfeit-free information storage system. But, again, that is possible thanks to mathematics.
These are the main characteristics of the technology that today leads many of the economic sectors in the world to streamline the processes and primary, intermediate, and distribution actions in any organization.
The Blockchain allows its users to access from anywhere in the world and resolve any problem quickly and promptly without definitively affecting any operation or transaction in real-time.
The possibility that third parties or bad intentions cannot violate the data stored in the chain is another point in favor of the technology.
Read also: Geothermal Energy Powers Bitcoin City
Why the name Blockchain?
A blockchain is a chain of files with relevant information that is stored and replicated in a large number of computers that only form a network, and not only that, the knowledge of the blocks is encrypted.
Only the person who created it can see it; for this, as we imagine, these are the mathematics, precisely the public key cryptography, and the private key, which makes it secure and anonymous.
Now two essential things are significantly related; How do you add a block? And how do we ensure that every node on the network has a precisely identical copy of the Blockchain? The key is in the X of the blocks and, in particular, the web nodes called miners.
When a new block is ready to be added to the chain, miners are prompted to add the block to the network. It is only necessary for someone to calculate the X and add it to the block; the first to receive the notification verifies that everything is ok and gets a prize.
As you can imagine, finding the X is not easy, so the miners start competing as soon as the announcement of a new block goes off. The X has to do with the hashes of each block. It is the serial number we are talking about; This is where the math comes in.
If you change a comma, a letter, a space, or whatever, the result has nothing to do with it. The way to assign it has to be very complicated, bone. If they give you the final number, it is impossible to know what text it came from, which is what miners do on the Blockchain.
SA256 algorithms are very secure and are used from packet verification to internet security protocols or even in international courts; whoever manages to mine that block receives a prize.
Mathematics went digital
We are in the era of technology, where mathematics is a fundamental piece in creating software and computer equipment; despite the passing of the years, it continues to be a key piece.
Adapting an elementary science to new technologies makes it possible to identify the opportunities presented through a new project that attracts all types of Internet users.
The use of blockchain technology as a basis for the execution of organizational tasks is essential, but also as a key for digital purchase and payment activities, without leaving aside the financial options that are presented.
Everything is a matter of adaptation and putting aside the fear of learning new tools that allow the global, personal, and corporate growth of any entity or user.
Blockchain is a ledger; It has characteristics such as a chain of blocks where the users (called miners) are the true protagonists and those in charge of executing and visualizing the operations.
Blockchain applications are unimaginable; They are already tested in other places, such as health, including the internet, to see reliability. It's a compelling technology, though, thanks to Hash math.
This 2023 will likely be the year of the most significant momentum for the Blockchain because the video game sector has been closely linked to it and hopes to optimize its results.