📌 Blockchain and Cryptography Summary
Blockchain is a digital system for recording transactions in a way that makes them secure, transparent, and nearly impossible to alter. Each block contains a list of transactions, and these blocks are linked together in a chain, forming a permanent record. Cryptography is the use of mathematical techniques to protect information, making sure only authorised people can read or change it. In blockchains, cryptography ensures that transactions are secure and that only valid transactions are added to the chain.
🙋🏻♂️ Explain Blockchain and Cryptography Simply
Imagine a notebook where every page records a list of events, and once you finish a page, you glue it to the previous one so no one can remove or change it. Cryptography is like using a special code so only those with the secret key can read or add new pages, keeping the notebook safe from tampering.
📅 How Can it be used?
A supply chain project could use blockchain and cryptography to track goods securely and transparently from manufacturer to retailer.
🗺️ Real World Examples
Bitcoin uses blockchain and cryptography to allow people to send digital money directly to each other without needing a bank. Every transaction is recorded in a public ledger, and cryptographic techniques make sure only the person with the right digital key can spend their bitcoins.
A hospital can use blockchain and cryptography to store patient records, allowing only authorised doctors to view or update information while keeping the records safe from unauthorised access or changes.
✅ FAQ
How does blockchain keep digital transactions safe?
Blockchain uses special maths, called cryptography, to lock up information so that only those with permission can access or change it. This means that once something is recorded on the blockchain, it is extremely hard to tamper with, making your digital transactions much safer.
Why is it so difficult to change information on a blockchain?
Each block in a blockchain is linked to the one before it, and every block has a unique code created using cryptography. If someone tried to change just one block, it would break the links to all the following blocks. This makes altering information almost impossible without everyone noticing.
What role does cryptography play in blockchain technology?
Cryptography acts like a digital lock and key for blockchain. It protects data from prying eyes and ensures that only approved transactions are added to the chain. This keeps the system secure and helps people trust that the information on the blockchain is accurate.
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🔗 External Reference Links
Blockchain and Cryptography link
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