What is Blockchain?

in hive-175254 •  8 months ago 

Assalamu Alaikum


How are you everyone?Today I will discuss with you about What is Blockchain? I am young and my experience is very little so please forgive me if there are any mistake.

blockchain-3277335_1280.png
Source
Blockchain experts use the example that blockchain behaves like a financial ledger. In financial ledgers, information from various financial accounts must balance before the ledger can be considered accurate. This is the idea behind blockchain voting: Votes from different polling stations around the state or country need to be balanced with the number of actual registered voters and where they are registered to vote.
With an old-school centralized database like the one we have today, a hacker alone or working for an organization or foreign government can manipulate the results almost undetected even when calculating the results.

blockchain-3206918_1280.png
Source
With blockchain, hacking is much more difficult and virtually impossible. Because blockchain has instant checks and balances that a central database cannot offer. Essentially, everyone involved in elections, including political parties and their candidates, can watch and see in real-time what is happening as votes are distributed and counted. This can help make polling tests faster and more reliable. If the numbers don't add up, then everyone knows and can be checked to solve the problem.
In an ideal world, votes are counted quickly, fairly and honestly and we can get results in minutes instead of hours, days, weeks and sometimes months.
Today's discussion ends here. I hope you find it interesting and able to understand. Share your thoughts on today's topic. Wishes and blessings to all.

blockchain-3277336_1280.webp
Source

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!