BLOCKCHAIN

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By Carlo Caloisi – Sep 14, 2022

blockchain

The blockchain is a shared networked, unchangeable ledger that simplifies the process of recording transactions and tracking assets in a commercial network.

It is composed of a blockchain (from which his name is derived) each of which has three basic characteristics:

 

 

  • Data container: can be, by way of example, transaction data in the case of using a NFT (non-fungible token);
  • Hash string, i.e., cryptographic code that uniquely identifies the block and its contents. A new hash is generated each time a block is created;
  • Each block contains the hash of the one before it. It is why it is called a chain and it is also why the blockchain is secure, unchangeable; each hash has the information of the one that follows it and the one that precedes it

 

Added to these three features is proof of work: a series of additional calculations that make hacking even more difficult.

Numerous fields of application: virtual residence (possible in Estonia), energy networks, insurance, real estate, e-voting (anti-election fraud voting), financial transactions.

 

SOURCES AND IN-DEPTH ANALYSIS

  1. What is it: https://www.techtarget.com/searchcio/definition/blockchain ;
  2. The technology: https://www.ibm.com/topics/what-is-blockchain ;
  3. Application fields  between the present and the future:
    https://www.swisscom.ch/en/business/enterprise/themen/banking/digitales-firmenkundengeschaeft.html ;
  4. BITCOIN: https://www.ileaderprojecterasmus.eu/2022/09/14/bitcoin-from-illegal-to-emerging-currency/

 

IMAGES (in sequential order)

  1. https://unsplash.com/photos/KZprVTQ8L7E ;
  2. https://www.pexels.com/it-it/foto/business-catena-monete-finanza-5698696/