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Blockchain


Blockchain


Blockchain is the technology on which Bitcoin is built.
Blockchain can be used to store any documents and manage their tracability.

https://medium.com/s/welcome-to-blockchain/everything-you-need-to-know-about-blockchain-but-were-too-embarrassed-to-ask-b3cee3e918f8

https://blockgeeks.com/guides/what-is-blockchain-technology/

https://app.pluralsight.com/player?course=blockchain-fundamentals

A Blockchain is a tree of nodes. Each node contains key information including, Number, Message, Hash, Nonce (a number), Timestamp and Previous Hash (The Hash and the Previous Hash values can be used to detect if the node is valid or has been tampered with).
The importance of the implementation of Blockchain is that the computing is distributed and each node in the distribution has it's own unique copy of the complete Blockchain, this means that if one node in the distribution is corrupted then it can easily be detected as it's copy will differ from the others and it can be replaced.

Why is the Blockchain unhackable?

If a hacker tries to corrupt transactions on a node in the Blockchain then when it is submitted to the Blockchain it will immediately detect that there are differences in the Hash values, Blockchain will then determine which node in the Blockchain has done more work (more mining), it will chose this node as the correct node and replace the one submitted by the hacker and take the hackers node out of the chain. The hacker's node can never be the node that has done the most work, as it would need more computing power than the total of the whole Blockchain.

Merkle Tree 

Hashes of hashes. 
Each node in the tree is hashed. 
Each parent is a hash of it's children. 
This makes an efficient mechanism to detect if a node in the tree has changed i.e. compare the hash of the root node, if this has changed then do the same for each child, follow the branch each time you detect a difference in hash and eventually you will find the node that has changed.
Each node in the tree could be the hash of a document or transaction.

Mining

Blockchain requires someone to do some computing to process the nodes in the Blockchain. To do the computing you need large computing power. The rewards are possible currency e.g. Bitcoin will reward these computers with Bitcoin.
The process is known as Mining.
https://blockgeeks.com/guides/proof-of-work-vs-proof-of-stake/


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