What is Blockchain in simple words

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The growing popularity of various types of cryptocurrencies, in particular, bitcoins, has led to the emergence of many obscure for most special terms related to cryptographic technologies. One of them - blockchain - is one of the key concepts of the basis of modern cryptographic systems. Let's talk about the main concepts of blockchain in simple terms.

What is blockchain
The essence of the term is largely egypt whatsapp data in the meaning of the words it consists of - "block" and "chain", that is, a continuous chain consisting of blocks. In essence, this is a mathematical model subject to certain rules. Blocks include a fixed set of actions.

Depending on the area of ​​application, different types of events can be considered as blocks, for example, the movement of goods, if we are talking about logistics, or the movement of assets, if we are talking about finance.

Blockchain Rules
Let us highlight the basic rules that the “ideal” blockchain model must obey, regardless of its area of ​​application:

• Continuity of the chain, i.e. breaks are unacceptable, but branches are possible;
• Instantaneous occurrence of events included in the block;
• Chain succession, i.e. each subsequent block, in addition to its own set of actions, contains the result of the “work” of the previous one;
• Irreversibility of actions, i.e. changes in the results and composition of actions of any of the blocks are unacceptable.

We have listed the rules that concern only the single-chain blockchain model, but in practice the model is interesting for its multiplicity, when the same chain is duplicated to obtain an unlimited number of copies. In accordance with this, we will expand the above rules by adding the following:

• Unlimited number of copies of the chain;
• Control of results, i.e. verification of the contents of the blocks of each copy before adding a new block of operations.