diff --git a/Blockchain Essentials b/Blockchain Essentials new file mode 100644 index 0000000..8ef1c0d --- /dev/null +++ b/Blockchain Essentials @@ -0,0 +1,24 @@ +Assignment-1 Day -1 +Blockchain Essentials:- +1.what is your understanding of blockchain? +And. Blockchain is series of chain of blocks which contains data and it is tamper-proof I e unhackable it's a property which makes it so powerful. It is based on two principles---1.cryptography ---2.distrubutive technology + +2.what is the core problem blockchain trying to solve? +As data is the most important for any company so making it centralized makes it more towards hacking so blockchain provides decentralized platform +It also solves the problem of double spending +It also makes it unhackable +It also works on authenticity of data +3. What are the few features which blockchain will give you? +Ans +.1. Immutable data + 2.decentralisation +3.transparency across users +4.tamper-proof data + +4.what all things does a block contain? +Ans. Own hash number--previous hash number---time stamp---data--mining key + +5.how is the verifiability of blockchain been attained? +Ans. Firstly it is a series of cryptographic hashes so one change can change all the hashes so it is difficult to tamper. +Secondly it is distributed ledger which means everyone will have a copy of data so if we will delete it or our data is lost we can take same copy from others. +