Hello friends welcome to my blog, in today write-up I will like to talk about Blockchain. So what is Blockchain?

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Blockchain is a decentralized data ledger that is securely allows exchange of data among restricted number of people. Transactional data from numerous sources may be readily collected, integrated, and shared using blockchain cloud services. Data is divided into common blocks that are linked together using cryptographic hashes as means of identification. Blockchain is a database that saves encrypted blocks of data and then links them together to establish a chronological single-source-of-truth for the data. Blockchain is transparent, safe, and the assets saved on the network have an immutable record. Blocks, nodes, and miners are three key concepts in blockchain.

Block

Every chain is made up of several blocks, each of which has three basic components: data, nonce, and hash.

1. Data
   The data in the block, which is the information.
2. Nonce
   A nonce is a 32-bit whole number that is generated at random when a block is constructed, resulting in a block header hash.
3. Hash
   The hash is a 256-bit number in relation with the nonce. Hash begins with a large number of zeros.

When the first block of a chain is formed, a nonce is used to compute the cryptographic hash. The data in the block is considered signed and irreversibly connected to the nonce and hash unless it is mined.

Miners

Miners are in charge of adding new blocks to the chain through a process known as mining.

Miners utilize specialized software to solve the exceedingly difficult mathematical task of generating an approved hash using a nonce. A nonce is 32 bits long and the hash is 256 bits long so to find the perfect combination, you need to try close to four billion nonce-hash combinations. When a miner succeeds in doing so, the "golden nonce" is generated, and their block is added to the chain.

Node

A node is a type of electrical devices that saves copies of the blockchain and keeps the network running is referred to as a node.

Every node has its own copy of the blockchain, and in order for the chain to be updated, trusted, and confirmed, the network must algorithmically approve any freshly mined blocks. Blockchain are transparent so all actions and decisions in the ledger can be examined. Tracking participants transactions is easy because there is a unique ID for all parties involved. The integrity of the network is maintained through the system of thorough checks and balances.

In conclusion blockchain has open up a lot of possibilities in the computer world and in my next post I will look at some of the advantages that blockchain brings to the table.