How secure is Blockchain? Very. Many people talk about Blockchain technology. They call it a breakthrough, they call it convenient, and they call it very secure. There are many talks that the Blockchain technology can be utilized in various spheres apart from the cryptocurrencies, such as elections, check of identity, insurance claims, and many others. If it seems interesting for you, you can believe other people who state that the Blockchain system is great and very secure, or you can learn about this technology more, understand how it works, and only then ask “how to download Blockchain.”
This piece of writing includes all necessary explanations about the technology to answer the question “how secure is Blockchain.” To explain well, it is necessary to define what Blockchain is and describe how it works. It can be quite complicated to understand the Blockchain technology, for people who aren’t aware of all these technology peculiarities. For this reason, you will get a very simple answer to the question “how secure is Blockchain.”
When you think about Blockchain, you need to image a diary or a ledger that records all necessary operations that happen online. At first sight, it seems that such system can’t be secure, but it is necessary to look deeper to understand how it works. This ledger or diary consists of blocks. These blocks are pieces of certain data. They have a tight connection. This connection among blocks is very secure thanks to the hash or hashing function. This function is one of the main reasons, why this technology is very secure.
Hash or hashing function
If to explain it in a simple way, you need to imagine that the diary includes a list of several operations. Basically, every record includes information who sends something online, who receives this, and what actually is sent. Yet, this information is encoded by hash. Hash or hashing function encodes data that is included in blocks. This code consists of the letters and numbers. It is also possible to say that this code is a chain. The hashing function takes the existing characters of the record and changes them into a chain of the determined quantity of characters. If someone decides to change the record, it will be clearly seen in the hash.
You may ask, “How secure is Blockchain if it has such primitive protection?” Actually, it is only the first level of hash function in the Blockchain technology. It was decided to complicate the record in order to make it safer. Every record includes the hash of the previous record. It means that if anyone decides to change one record, he/she will have to change all of them. Such operations are very time-consuming, and there are little chances that someone will spend much time on changing every hash.
Number called “Nonce”
However, to answer the question “How secure is Blockchain” it isn’t enough just to tell about the hashing function. There is one more level of security. After every record in the ledger, there is a number that has a name “Nonce.” This number isn’t random. Basically, this number should look as two zeros at the end of the hash. If anyone decides to change the record somehow, he/she has to spend a huge amount of time on calculating Nonce for every record.
Computer called “Node”
Yet, this information also isn’t enough to answer the question “How secure is Blockchain,” because there is one more thing that protects the system from the fraudsters. The best thing about the Blockchain technology is that this system is decentralized. Basically, there isn’t one person or group of people that own the ledger. The ledger is owned by everyone, who utilizes the technology and carry out operations. The computers that own the ledger are called “Nodes.” Each time, when it is necessary to carry out an operation, it should be checked and accepted by the Nodes. When everyone who uses the system has a copy of the ledger, it is impossible to change something there without anyone notice this. The Blockchain technology works better and is more secure when a greater number of computers are included in the system. It is also essential to know that the technology updates automatically every 10 minutes, which is good protection from errors.
As you can see, the Blockchain technology is a very good system. It can be very helpful in various spheres and for various applications. If you are also interested in it, you should get to know how to download Blockchain. The first thing that you need to be aware of is that the Blockchain company designs, builds, tests, and ships various products. Basically, you can’t down Blockchain as it is. So, how to download Blockchain? You just need to download products of the company based on this technology. The most popular and the most important its products are Block Explorer, Wallets, and Developer Platform. The best idea to get to know about these products is to visit the official website of Blockchain. Nowadays, there are not many applications based on the technology, but it is developing and spreading. In other words, in a couple of years, many things that related to passing some information online will be based on the Blockchain technology.