When we talk about blockchain, we refer to a data structure in which its information is grouped into sets (blocks) to which information related to another block of the previous chain is added. It is a single and consensual registry, which is distributed in several nodes of a network.
Within each of the blocks, it is stored:
Cryptocurrencies, such as bitcoin, use blockchain in the ledger where each transaction is recorded.
Blockchain is a conceptually secure technology thanks to its distributed nature, irreversibility of transactions and heavy use of encryption.
Miners are those who are dedicated to providing computing power to the network to carry out, in this way, the verification of transactions. Their job consists of validating and grouping the transactions, made by users within the network, in blocks that will later be linked to the Blockchain.
Nodes are all the computers connected to the network that, through a certain software, store and distribute a copy, which is updated in real time, of the block chain. Thanks to this, a distributed database is generated; therefore, it is practically impossible to alter a registry without it being detected immediately.
There are different types of blockchain, either public or private. At this point, we will focus on explaining public blockchains. Some of the best known are Ethereum and RSK. The main difference between the two is that Ethereum was developed with the purpose of simplifying the process of creating decentralized applications (dApps) on a blockchain. It has its own cryptocurrency (ether).
RSK, instead, was created to run the same job as Ethereum, but is used as the cryptocurrency Bitcoin. On their own website they affirm it is the safest platform in the world and that it is a sidechain, that is, a chain/side network on the Bitcoin blockchain.
There are many possibilities, here we mention:
Blockchain is a technology that is here to stay and is creating strong roots in many different fields, not just crypto. It has applications in industry, banking, food, health, etc. In sum, for any process or transaction where multiple parties are involved and greater security and transparency are desired, blockchain is a possible answer.
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