Walking On My Dreams
Behold my shoes and see me How walking upon my dreams Has bored jagged holes into my flesh See stones, sharp, and slyly lodged In the downside up of my feet I tear with every step as I pave the…
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THE EVOLUTION OF BLOCKCHAIN PART 1
If you’re an internet user it’s possible you have heard the words “cryptocurrency” and “blockchain”.
These words have been on the front burner especially in recent times with an increasing number of people coming into the crypto space.
Blockchain technology is important. Needless to say, it is the bedrock of all cryptocurrency. Without it cryptocurrency would not exist.
Each block in the network has their unique “hash” . The hash is like the identity and fingerprint of the block. When a new block is added to the network , it uses the hash of a previous block to create its own hash, thus linking the blocks together.
To tamper with a block, the hash of that block will have to be changed.
But here’s the thing; If the hash of one block is changed, the hashes of the subsequent blocks become invalid and the system no longer recognizes them.
The blockchain serves as a public ledger for recording transactions. This public ledger is decentralized hence no person or group of persons has absolute control of the data that is recorded. It’s basically like an open book to the public.
Every computer in the network has its own copy of the ledger. This is partly what makes tampering with blockchain data very difficult. To make a change on a block valid and accepted by everyone, one also has to change the data on all the other blocks and copies and as you can guess, that is almost impossible.
Check out the part 2.
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