What is Blockchain (Block Chain)?

28 Nov. 2017 - - Total Reads 12,320

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: 12.3K

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

Trusted by

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

Testimonials

I strongly recommend AndMine and Michael's work to any forward thinking company. They have helped us rapidly evolve our business with great success in a very difficult period in retail. From online to offline they are the new generation of advertising delivering brilliant results and service. From simple EDM's to our new online store and creative campaigns, they have gone above and beyond, engrained themselves in our business and amplified our brand. We look forward to what Michael and the team achieve for us next. Harry Goles, OJAY Clothing

More Testimonials
AndMine-Google-Partner-Signature