Blockchain and its uses

The right hand to establish revolution against any system and against any manipulation in the world of technology, the revolution of the modern system. For the first time, serious attention is being paid to something other than phones and their new technologies. Rather, artificial intelligence, self-learning, Bitcoin, and the technology mentioned today, which is Block Chain, the element of technological security...

First, we need to know what is meant by blockchain technology:

We already know the reason for the emergence of Bitcoin. It is considered a revolution in the global financial and capitalist system. Banks control the financial authority of any society and the wealth and transfers that take place on a large level. It was also through one of the safe researchers that the first ever digital currency, Bitcoin, was created and to be freed from financial authorities and administrative controls without submission. For any specific party in itself, and with the success of Bitcoin, a technological deficit appeared in preserving data and the chance of losing it or losing currencies in one way or another. Therefore, Blockchain appeared as a saving element, and also with the same idea as freedom from the authorities, but from the authority of large companies such as Google and Microsoft, who control cloud servers around the world, and thus Blockchain appeared. As a solution that is extremely effective in preserving data, that is, we can consider it an electronic notebook that relies on a number of elements, including artificial intelligence. It basically resembles a group of nodes, and each device connected to this system represents a node that saves all data through connected and encrypted blocks, and it is basically called the block chain, a translation of the word " Blockchain: Each block is associated with its own timestamp, process, and encryption key.

Blockchain system elements:

-Bloc:

The average block is how long it takes the system to create a new block in the blockchain. The average block varies between different networks, with some blockchains creating a new block as frequently as every five seconds. Block time is important because it determines how quickly transactions are confirmed and verifiable. For example, the blocking time for Ethereum is set between 14 and 15 seconds, while for Bitcoin it is around 10 minutes.

- Decentralization:

The decentralized blockchain system offers the advantage of openness and transparency. Data is stored across a network of nodes (computers), and this reduces the risks associated with concentrating data in one place. Thanks to this decentralization, there is no central point that makes the system vulnerable to hacking. Blockchain security methods rely on the use of cryptography and mathematical verification techniques, making data tamper-proof.

- Chain knot:

Each node in a decentralized system has a copy of the block chain, ensuring that data is distributed and maintains its quality. Data stored on a blockchain is generally considered tamper-proof, meaning it is secure and reliable. Transactions are processed and added to the block by mining contracts, after which the completed block is broadcast to other nodes.

Operating System :

We can describe the matter as an electronic buying and selling process. In the process of sending money to the user, the “blockchain” system then creates a transfer process that is added to the transaction record present on all nodes. Thus, the matter is circulated and legislated that this process is indeed legitimate and there is no room to doubt its validity. In return, you will encounter difficulty in real-life purchases. In front of it, if you are in a restaurant and want to make a payment using Bitcoin via the “blockchain”, the program will reject the order because it has not confirmed that you have actually received the order.

Returning to the basic point in the process of receiving, buying and selling, if you try to rent an apartment for yourself through the “Booking” website, which has witnessed a global expansion process, and thus an indication of the need to strengthen the site’s infrastructure system has emerged, which the site already has the financial and technological capacity to do, as the site may witness price manipulation operations. Because it depends on a specific number of service providers and therefore the price of reservations will be manipulated in one way or another. Let us now change the rules of the game and the service providers will not control the price. Only the “blockchain” will be added. So the system will not follow any party or rules other than those registered with the system and therefore it will perform the calculations to regulate Adding data and even payment operations as a strict monitoring and auditing system will also ensure permanent security and avoid any security concerns or fraudulent operations. Therefore, in any application of buying, selling and booking on the Internet, if the matter relies from the beginning on the “blockchain” system, the system can create a block to add the apartment and the purchase process. Also from the beginning.

A fatal mistake with a high cost:

After mentioned above, you can understand that the advantages of the “blockchain” system are that it provides a decentralized system for recording transactions, making it resistant to manipulation and counterfeiting. It also relies on a network of nodes connected to each other, ensuring the distribution of power and achieving transparency in operations. As the use of blockchain technology expands in various industries such as banking, e-commerce and healthcare, it contributes to improving efficiency and reducing costs.

In contrast to all these advantages, we can conclude the flaw that can be exploited, despite its difficulty in achieving success. Unfortunately, it can succeed, yes, with a very small disadvantage. Despite this, it is clear that blockchain technology, which is usually considered safe and reliable, may be exposed to what is known as “majority attacks.” ", where attackers attempt to tamper with the authenticity of transactions by misrepresenting them as valid. Attackers take advantage of the presence of a large number of nodes (computers) involved in verifying the validity of operations within the system, as they try to speed up their operations because they excel in confirming the validity of operations at the expense of the rest of the nodes. If the attacker succeeds in using several nodes simultaneously to perform more operations, the attacker gains priority in confirming the validity of these operations.