What is Blockchain technology and how it works?
Blockchain is a special type of database in which information is stored. But a number of special features set China Block apart from other databases. There are a number of rules for adding new data to the China block. Also, once data is added to the fold block and saved, it can no longer be edited or deleted.
The data in the China blockchain network enters the database in a structure consisting of “blocks”. Each block builds on the previous block and contains the information that connects it to the previous block. Given that these blocks are connected to each other by information, they form a “chain” in which the blocks are placed next to each other in order of construction. The first network block before which there is no other block is called the “Genesis block”.
To better understand the structure of a blockchain, suppose two columns are drawn on a sheet. You put any data you want to store in the first row of the first column. The data inside this cell becomes a new two-letter word in a computational process. This word is used in the next entry. In this case, any change in the first cell leads to changes in the second block and to the end of the chain. The following image is an example of a database in which information is linked in a chain. A blockchain is a chain of blocks, and each block stores a list of approved transactions. Given that the Chinese blockchain system is operated by a large number of computers distributed around the world, it can be considered as a distributed general office. This means that each node has a copy of the Chinese blockchain data and interacts with the other nodes to keep up with them.
The main part of any Chinese block is the mining process, which is based on hashing algorithms. In the previous sections we explained that a hash is the output of a mathematical function. The input of this function can be any value, but its output is a unique value of constant size. Hash functions are one-way and their input can not be accessed. One-sided hashes make China blockchain network secure.