Crypto Academy Season 3 Beginners' Course-Task 2: Blockchain, Decentralization, Block explorer

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QUESTION

(1) Write the definition of blockchain. And how our data on Blockchain is protected from hackers.? And write details about Data, Hash and Previous Hash tag and explain through screenshot.

What is definition of Blockchain?

The concept of blockchain is continuing with a database that is used to collect and store data. Simply, a blockchain is a data storage that everyone can influence on the data who has connected with the chain. This is a place where users can store either economic performances or public data. In economics performances, users can make a data set of transactions; withdrawals, depositions, balances, senders and receivers. On the other hand, in public storage, users can collect, modify and access the gathered information of humans, education, health, population and many more. The nature of the collecting data is user-dependent. The purpose of gathering, maintaining and the future of blockchain data can change with its users. In Steemit, this method is used as a social media platform while giving a chance to perform monetary access own. Blockchain data are decentralized with worldwide users.

How our data on Blockchain is protected from hackers?

Every user in a blockchain is verified through a set of keys that they have been given. Every key allows a user to perform a specific task, action or influence within the chain system. The system will recognize, verify and record the users in their acts using these keys. Therefore, transactions are user-defined and well secured. These verified data in a blockchain are neither reversible nor removable. If someone is going to make a change in a single act, it will impact all the other combined blocks. Therefore, hacking is impossible within a blockchain.

But there can be phishing attacks. In phishing, we cannot be hacked technically within the blockchain but with our weaknesses. These hackers use social engineering to reveal our weak points and then make us vulnerable to provide details to them. So we should be capable of avoiding self-errors by submitting verified keys to third parties.

Write details about Data, Hash and Previous Hash tag and explain through screenshot

Blocks store data using cryptographic methods. A block has a defined size and a defined number of transactions. Once a block is filled with data, a new block will be added and continue with data storing. In a block, three main features help to manage this process. They are data, hashtags and previous block's hashtag.

As previously mentioned, a blockchain is a database that can collect and store millions of information. A block is like a ledger book in which we can keep every single transaction within it. All the users that are engaging with the blockchain are responsible for the data-keeping. Further, these data are available for users to access, modify and analyze in another process.

There are millions of blocks in a blockchain system and contain a massive volume of data. To identify and select these data, there should be a distinct method for blocks. For this, a block has a nomenclature system with hashtags. Hashtags mark blocks’ identities within a blockchain. This specific hashtag allows users to detect, identify and observe the data or the transactions that have been made in a relevant block.

Apart from this specific identifying hashtag, a block has another hashtag that belongs to the previous block. This hashtag allows a block to connect with the previous block in the chain. This hashtag navigates the block where to be connected and complete the chain.

Special thanks to @yousafharoonkhan for the providing information and guidance.

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