What is Blockchain (Block Chain)?

28 Nov. 2017 - - Total Reads 11,670

What is Blockchain

So what is blockchain really about ? And can you use it for your business. This article tackles the Block Chain basics – if you want to know how to use Blockchain in your business or more specifically… should you use it for your business? read our article on Blockchain for Business here.

What is Blockchain (Block Chain)?

Ok the basics first – In computer programming, there are many types of data structures. Data is basically any bit or collection of information; it could be a 0 or 1, which are the fundamentals of computer programming (everything in the end is either a 0 or 1 in computers today… yes this excludes parallel computing which is coming but still experimental and a topic for another time); it could be a character like a-z or 0-9 all the way up to the Ascii table; OR you can start building more complex data structures;

The simpler forms of these are like lists or arrays; to see how ‘complex’ these simple structures can be, take a look a Strings… again these are at the simple end. Then stepping up, 3D arrays, the list goes on and on. Programmers use pointers or addresses to setup these data structures and connect them, as they all require little references to determine where they live in the computer’s memory. Essentially this is the way we connect individual pieces of data to each other. These ‘relationships’ can get quite complex including the rules that we build up to connect them.

So blockchain works like any other data structure, except each block has some specific rules and characteristics. The main three are;

1. it is protected by cryptography – which means that it is hard to hack ;

2. each block which must include blockchain data – it’s core structure characteristics ;

3. Each block is linked to another block in a decentralised relationship

Together they solve some challenging and interesting computer networking problems mainly to do with security (like the two general’s problem), and speed to access the data – which makes blockchain accessible, robust and secure. How secure? well that is what teams of experts and hackers work on and, the market itself is testing as time goes on.

Data structures are often visualised using graphs (or relationship diagrams). Blockchain works on a decentralised relationships, which is a fancy way of saying the blocks are stored (distributed) to different locations. If you ever pirated content (naughty naughty) you would have downloaded parts of your music or video from many different users – blockchain is similar in its structure with massive replication of data.

What is blockchain in a nutshell?

Essentially a complex data structure, arranged in a particular way, proposed to solve (and is solving) many challenge computer and networking challenges.

Where and when will it be used by Businesses? Read our article on Blockchain for Business here.

 

Michael Simonetti
Posted by:

Post Reads: 11.7K

Share this
Comments
Victoria Said :
"Very good information thanks for sharing . craftsman packaging tapes in melbourne"

Trusted by

vissf
Ubertas Group
Schiavello
Oracle
Cronos Australia
Dusa
Australian Physiotherapy Association
Tassal
Swin
Fortune Institute
Watches of Switzerland
Bondi Sands
Maxine
Parker Lane
Tony and Guy
The Age
Engineers Without Borders
Palace Cinemas
Green St Juice
Paypal
Windsorsmith
Shell
Nmiinsurance
Marshall White
Melbourne Heart
National Museum of Australia
Anthill
Jalna
James Buyer Advocates
Etihad Stadium
High Street Armadale
CAN
Royal Freemasons
Max
National Relay Services
Arc One
Jetstar
University of Melbourne
abc
Bintani
Telstra
Atlantic Group
Scrum
Switzer
TSB
AC/DC
Celebrate health
iPrimus
Victorian Government
OMS
Castran Gilbert
Bigcommerce
Van Egmond Group
Crumpler
Grow Your Business
MyAccount
DeeWhy Market
Australian organic foods
Grow Rich
Smh
Moov Head Lice
Florsheim
Bank of Cyprus
DepSkin.com
Chia
Digital Agency Panitsync
Rock Pool Group
ISO Certified
WTFN
The Burger Cheese
Novvi
Brisbane Times
Appstore
Fed Square
MAP
Aqium Gel
Eway
RMIT University
BlackMores
GooglePlay
Smart Company
Positive Poster
Unsw Australia
Ello
Metricon
Heat Holders
Natralus Australia
Ebay
Garmin
Federation
Coles
Microsoft-Certified-Azure-Fundamentals
Instant RockStar
Bulk Nutrients
Matchbox
White Suede
Canberra
POSTER Magazine
tribe
Melbourne Central
Amino Active
Kay Burton
Melrose Health
Melrose MCT
Bostik
Arthur Galan
McArthur Skincare
ADP Payroll
Professional
Rackspace
Liveoneday
Drupal
OJAY
Focus On Furniture
Xavier
Associated Press
BCG
MSAC
Australia Goverment
Macmillan
Beaumont
Tek Ocean
Ego Pharmaceuticals
News
Fresh Cheese Company
Forbes
Viktoria + Woods
Sports Power
Acquia Drupal Certification
QV Skincare
Rydges
Vendor Advocacy Australia
street kitchen
Dinosaur Designs
Madman Entertainment
Oakdale
Hairhouse Warehouse
Toy World
CSquared Executive
LBG Australia and New Zealand
SunSense Digital Agency
Magento Solution Specialist
TPP
Uber
Magento
One Shift
Grays Ecommerce
Movember
CBRE
Loan Market
Sunday creek
Dial Before You Dig
21st Century Education Agency
Fairfax Media
passage to india
Elucent
131 Pizza
GPT Group
Engine Swim
Hanover
Mamma Lucia
Google

Testimonials

We aren't exactly 'IT savvy' but AndMine's Marketing Software is simple to use and the guys are always there to help us out. We send out eNewsletters and automated Birthday offers with ease, keeping the restaurant busy and our 10,000+ members happy. All The Team, La Camera Restaurant

More Testimonials
AndMine-Google-Partner-Signature