Hey peoples, If you hear a bitcoin you might have heard a blockchain as well it was invented in 2009 with blockchain An effective technology blockchain used for storing transactional records in a decentralized format means the data not handled by one person. So what about security when we say it stores the data in a distributed way. Then here the concept of blockchain comes. It uses an advanced security feature which is called hashing. So what is hashing? Hasing means we can use any secret key or algorithm to generate a key.
So, let’s suppose every time when a user sent money from one to another (which is encoded with hash keys) the hash key also changed this determines that the transaction or modification takes place. The example below helps you understand the working of blockchain.
The example above demonstrate that the hash key before the first transaction is U1 in the second transaction U2 and so on and the U1 in block B indicates that the file was edited by someone and the previous hash key which is (U1) save in a block or file. whatever you say. I hope you understood. Thanks