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11 เม.ย. 2022 เวลา 03:26 • ไอที & แก็ดเจ็ต
What is blockchain technology?
What is blockchain technology?
What is blockchain technology?
Blockchain is a distributed, unchangeable ledger that makes recording transactions and managing assets in a corporate network much easier on a blockchain network, virtually anything of value may be recorded and traded, lowering risk and cutting costs for all parties involved.
Key elements of a blockchain
Key elements of a blockchain
1. Distributed ledger technology
With its immutable transaction record, the distributed ledger is accessible to all network participants. Transactions are only recorded once with this shared ledger, avoiding the redundancy of effort seen in traditional commercial networks.
2. Immutable records
After a transaction has been logged into the shared ledger, no participant can edit or tamper with it. If a mistake is found in a transaction record, a new transaction must be made to correct the error, and both transactions must then be visible.
3. Smart contracts
A collection of rules called a smart contract is stored on the blockchain and executed automatically to speed up transactions. A smart contract can specify requirements for corporate bond transfers and payment terms for trip insurance.
How blockchain works
How blockchain works
Each transaction is logged as a "block" of data as it occurs.
These transactions depict the movement of a tangible (a product) or intangible asset (intellectual). The data block can store any information you want, including who, what, when, where, how much, and even the state of a shipment, such as a temperature.
Each block is linked to the ones that came before it and those that came after it.
As asset transfers from one location to another or ownership changes hands, these blocks form a data chain. The blocks validate the exact timing and sequence of transactions, and they are securely linked together to prevent any block from being changed or inserted between two other blocks.
In a blockchain, transactions are linked in an irreversible chain.
Each successive block reinforces the prior block's verification, and hence the entire blockchain. The blockchain becomes tamper-evident as a result, giving the key strength of immutability. This eliminates the risk of tampering by a hostile actor and creates a trusted record of transactions for you and other network users.
Benefits of blockchain
Benefits of blockchain
Greater trust: As a member of a members-only network, you can trust that you will receive accurate and timely data from blockchain, and that your confidential blockchain records will be shared only with network members to whom you have specifically authorized access.
Greater security: All network participants must agree on data accuracy, and all confirmed transactions are immutable because they are permanently recorded. A transaction cannot be deleted by anyone, not even the system administrator.
More efficiencies: Time-consuming record reconciliations are eliminated with a distributed ledger shared across network participants. A collection of rules called a smart contract can be placed on the blockchain and implemented automatically to speed up transactions.
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