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Where and how are blockchain systems used?


Learn more about the last point. Remember that smart guy who was the first to count the number of apples. In the Blockchain system they are called miners (in Russian - miners, miners). Each operation with data, whether adding or authorized change, the system is assigned a certain set of numbers (hash), which other participants need to find by searching for certain formulas and functions. As a rule, in already existing systems all participants compete for the priority of finding the right solution. The participant who is the first to find the right combination announces this to others and everyone should agree, since further searches become meaningless.


Well, the maintainers are people who provide the power of their computers to find the solution and, if successful, create a new block of the system and get paid for it.


Hence, another term - miner - is to participate in the system, providing the power of your computer to create new blocks, solving the mathematical tasks given by the system, and to be rewarded if successful. The more participants in the system, the harder it is to find the right solution (to calculate the hash), because the complexity increases in proportion to the number of participants. Currently, it is actively applied to cryptovolves (see below).


This is how we can explain in simple words what a blockchain is. In reality, such systems are more detailed and have a lot of nuances and technical features, but the basic principles outlined above tend to remain unchanged.


As mentioned above, a blockchain is a data storage system built on certain principles. The data itself can be diverse. Of course, a vivid example of the use of blockchain technology is the creation of cryptovolves. The most popular of them is bitcoin.


Blockchain and bitcoin are not the same thing! Blockchain is a technology. Bitcoin is a system working with this technology.


Other uses of Blockchain technologies are: medicine, logistics, banking, contracting and many others.


In each industry, the use of blockchain will have its own characteristics and will have additional parameters, conditions of access to data and ways to change or add them.


One example is the use of this technology to create real estate registries. Developers of such registries claim that if the system works correctly, there is no need, for example, for notaries, because the system itself acts as a guarantor of the transaction and confirms the property rights. However, everything is currently in its infancy and work is underway to build and debug such systems.


Interestingly, critics and supporters of block technology have heated debates about usefulness, security and possible applications. But truth is born in the dispute. They did not believe in genetics either, remember?


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In conclusion, we would like to note once again that in this article we tried to convey the meaning of the Blockchain technology in the simplest words without using obscure terms and without going into the description of complex processes.

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