O blockchain known as the trust protocol, is a conventional database that functions as a book of records, but inviolable, undefeatable, and extremely efficient.
They are distributed and shared records and data bases that have the function of creating a global index for all transactions that occur in a particular market. It works like the book, only in a public, shared and universal way, that creates consensus and trust among all people, about all information, all balances, and all transactions of the accounts of each transactional or commercial record.
Although today the blockchain application is dissociating itself from the bitcoin, this technology began along with the criptomoeda. The concept of the first public blockchain was born in 2008, in the academic article Bitcoin: a peer-to-peer electronic financial system, published by a person or group under the pseudonym Satoshi Nakamoto.
How does blockchain work?
The blockchain is a network that works with very secure chained blocks that always carry content along with a fingerprint. The technology is based on 4 fundamentals: the shared registration of transactions, the consensus to verify transactions, a contract that determines the rules of operation of the transactions and finally, encryption, which is the foundation of everything.
Blockchain is not a single product, vendor or implementation. It is a concept, a database architecture. There is not a single blockchain, there are several. The best known is the blockchain that supports the bitcoin transactions, the virtual currency.
Blockchain works like an excel spreadsheet with at least the origin, destination and value of the transaction. An essential feature of blockchain, however, is that it works in a decentralized and distributed manner. This means that anyone could have a copy of our Excel spreadsheet on their computer.
The blocks that make up the blockchain, processed continuously over time, contain hashes that link and indicate important information in the database. The mixture of transactions, blocks and decentralization of data in the ledger allows great opportunities in several areas
