What does blockchain mean?
What is blockchain technology? We can think of a blockchain as a database that stores information in blocks. These blocks can be replicated on a personal computer. The blocks on all computers are the same and kept in sync with each other.
Each computer can be regarded as a node in the blockchain, which also ensures the security of the blockchain. When someone wants to add or delete data, The operation must be approved by more than half of the nodes, so the security of the stored data and the transparency of the operation can be guaranteed.
When the data of a node changes, the information in all blocks will change accordingly.Because the security of blockchain is comparable to that of online banking portals, it is almost impossible to crack, so we began to think about how to apply blockchain technology to maximize its performance.
What is blockchain?
To put it simply, blockchain is a recording system that can record various transaction information and ownership information of any asset in a reliable and secure manner, which can be understood as a real-time, immutable transaction and ownership record.
Blockchain as a Service (BaaS) combines a blockchain distributed ledger platform with a cloud software delivery and licensing model. This model is very popular with businesses looking to increase security and efficiency while reducing costs.
Since the service provider maintains the BaaS network in the cloud, BaaS provides the accountability, transparency, and security unique to blockchain without using internal resources within the enterprise.
Why is blockchain important?
Why is blockchain important? We can explain this problem by starting with the application fields of blockchain technology.
There is no doubt about the security of the blockchain, which plays an important role in ensuring data security and financial security. The reason is: new blocks (with new information) are always added to the end of the chain.
Every time a new block is added, a corresponding digital signature or hash is generated, which is a series of numbers and letters. Imagine all sorts of secret mathematical codes. When a block is added to the blockchain, if an amount or number in the block is changed, these signatures will also change.
If a hacker wants to tamper with the data of a block in the blockchain, he must make corresponding changes to all the information before and after the block.
Blockchain technology can also eliminate middleman links, help companies save money and get more benefits from it. With a blockchain platform, businesses can more directly verify and execute secure transactions.
Transactions could theoretically be completed without lawyers, bankers, brokers, and other intermediaries, and in a more interactive manner, since anyone within the chain could make changes to the data, and then Changes are viewed and validated by other participants.
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