Blockchain Algorithms

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Blockchain is a transparent network where everyone has access to data. Anyone can see the history of a transaction and its path, as well as get information about the size of the transaction. Only information about the addressee and the addressee remains closed.

Each user has a special key, the use of which guarantees the reliability of the network, its protection from data substitution and hacker attacks. It is a set of cryptographic records and is absolutely unique. Without such a key, you can enter the system only if you have access to all computers on the network at once, so the possibility of hacking is excluded.

The viability and reliability of the blockchain is ensured by special mechanisms: morocco rcs data the algorithms of the work done, Proof of Work, or PoW, and the confirmation of the share, Proof of Stake, or PoS. With their help, consensus is achieved.

The mechanism of the Proof of Work algorithm used in the Bitcoin blockchain can be compared to the reporting of office workers. To confirm the tasks completed, they regularly submit reports to their manager, on the basis of which their wages are calculated.

PoW in the blockchain is needed to verify the calculations made when creating the next block. The model by which the algorithm operates is simple: a block is considered correct and closed if its hash value is less than the entry that miners are looking for. In other words, the correctness of the block is shown by a certain cryptographic cipher. The function of "auditors" that control the authenticity of the block is performed by nodes.