How Blockchain Works

[Sebastianstan]

Blockchains are upgraded form of databases.

In a blockchain, different pieces of information/transaction are grouped together and stored as a chain of blocks. Each block is linked to 2 others blocks. One preceding it and one succeeding it. Similarly, each transaction is linked to other transactions forming a Merkle tree.

Contents of the blockchain are encrypted and stored in form of a hash. Such that only people with the private key can see the contents.

As all the blocks are encrypted and linked together, it becomes almost impossible to change the content of a block.

Also, it helps in the sharing of information between different organizations without compromising data security.

Blockchains can be programmed also. You can program to complete a particular transaction once set conditions are met.

This is just an overview of the blockchain. I hope it helps

To know more about this topic: How blockchain works

[1715151046]

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[1715151046]

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[DdmrDdmr]

Blockchains are upgraded form of databases. <…>

No, the opening statement is not true. In fact, if it were to be truly compared to a conventional database (say a RDBMS – Relational Database Management Sysyem), blockchain loses on many fronts and therefore cannot be considered an upgrade in any way.

Blockchain is slow when it comes to storing the data it holds, and the algorithm’s used to confirm transactions are nothing like what a plain RDBMS commit looks like. Blockchain also requires incentives for the TXs to be confirmed (imagine having to incentive our databases to get the commit done). On the other hand, the distributed and replicated nature of blockchain make it more tolerant to hardware faults and software attacks such as virus or randsomware attacks.

The core goal is really different from the start: blockchain acts as a public ledger, where movements are logged along with some related information (quantities, origin, destiny – be it with the degree of anonymity the specific blockchain provides). Databases will hold data of all sorts of nature, even complex structures such as blobs and objects. This degree of heterogeneity is not the intent of the blockchain, and the speed at which on and another processed the information is radically different.

We can compare features of one another, but really we’re talking about two different things in essence, with different objectives and features, making one not an upgrade of the other in any way.

[LOLpenguin]

Great source of knowledge about blockchain is a book called Crypto and Blockchain for beginners by Savii Publishing. You can purchase it from Amazon. Have read it and can recommend to all beginners, a nice easy read.

https://www.amazon.com/Crypto-Blockchain-Beginners-Savii-Digital/dp/9949727901/

Or if you are more of a podcast person, then this episode is perfect for you:

http://cryptoandblockchaintalk.com/what-is-blockchain-22

[mocacinno]

Next to DdmrDdmr's remarks (with whom i agree), i'd like to point out one/two other flaw(s) in the OP:

--snip--
Contents of the blockchain are encrypted and stored in form of a hash. Such that only people with the private key can see the contents.

As all the blocks are encrypted and linked together, it becomes almost impossible to change the content of a block.
--snip--

First:
A hash is a one-way function, you can't store data in the form of a hash... A hash does not store data. You can't decrypt a hash using a public key...

Second:
Altough there is nothing stopping you from encrypting the data you store in a block in a blockchain, most of the current crypto currencies do NOT encrypt the content of a block... In bitcoin's case (for example) anybody can parse all blocks in the blockchain, sure you need the public keys to verify the signatures, but those public keys are included in the transaction spending the unspent outputs... Offcourse, only the person who has access to the private key can create the signature...

@OP: there is a difference between hashing, encrypting and signing...

[Coin_Dozer]

Great source of knowledge about blockchain is a book called Crypto and Blockchain for beginners by Savii Publishing. You can purchase it from Amazon. Have read it and can recommend to all beginners, a nice easy read.

https://www.amazon.com/Crypto-Blockchain-Beginners-Savii-Digital/dp/9949727901/

Or if you are more of a podcast person, then this episode is perfect for you:

http://cryptoandblockchaintalk.com/what-is-blockchain-22

So r u saying that it's a good Idia to buy this book and read it for all beginners that want to learn crypto? I am trying to Lear all of this and am looking for all the great information that I can learn ...

[Cryptocore65]

how the blockchain secured ? , anybody tell me the security of blockchain !
how the blockchain works in crypto and what is the difference between banking ledgers and blockchain

[Marshall14]

how the blockchain secured ? , anybody tell me the security of blockchain !
how the blockchain works in crypto and what is the difference between banking ledgers and blockchain

The blockchain technology is designed to protect data on it, such data is public to all,but unalterable(cannot be changed or tampered with),the technology was built in that way, to store all informations regarding transactions on the bitcoin network,but such files can't be altered..

I think one major difference between the BC and the banking ledger is transparency,as stated earlier BC is a public ledger
Another difference is that the BC is safer based on the aforementioned fact that transactions cannot be altered...
The BC is also faster and cheaper,the transaction fees on the network is cheaper that that of the banking network

[Mehel.kb]

in which platforms block chain is using ?? any other fields ??

[NeuroticFish]

in which platforms block chain is using ?? any other fields ??

Money flow and logistics are two obvious directions, but not the only two.
However, this is somewhat off-topic and if you want more/longer answers you should search (eg: google for use of blockchain) or make your own thread.

[SihaToken]

Suggest reading this: https://cointelegraph.com/bitcoin-for-beginners/how-blockchain-technology-works-guide-for-beginners

[Coin-Desk]

If you want, you can read this post. I gave a simple explanation of how the block chain works here.
Post link: https://bitcointalk.org/index.php?topic=5093716.msg49074306#msg49074306

[steven robert]

in youtube there are plenty of videos explaining in detail about blockchain why don't you get info there 

[Velkro]

Blockchains are upgraded form of databases.

I wouldn't agree here. Its different form of database not upgraded. Database and blockchain have completly different advantages and disadvantages.
It depends on project itself to decide which fits better.

[Coyster]

in youtube there are plenty of videos explaining in detail about blockchain why don't you get info there 

YouTube happens to be one major source to get information and educate oneself on the runnings of the blockchain technology and cryptocurrency,so also is the forum,its much more easier to gain knowledge on the forum through asking questions,and it's simply down to asking in the right section,and in this case,this question fits this very section and there are many members willing to help out with one or two points,links and even links to videos etc