How Does Blockchain Work?
When you google search for something, you send a query to the server who then gets back at you with the relevant information. That is simple client-server. Now, centralized systems have treated us well for many years, however, they have several vulnerabilities. Firstly, because they are centralized, all the data is stored in one spot. This makes them easy target spots for potential hackers. If the centralized system were to go through a software upgrade, it would halt the entire system What if the centralized entity somehow shut down for whatever reason? That way nobody will be able to access the information that it possesses Worst case scenario, what if this entity gets corrupted and malicious? If that happens then all the data that is inside the blockchain will be compromised. So, what happens if we just take this centralized entity away? In a decentralized system, the information is not stored by one single entity. In fact, everyone in the network owns the information...
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ReplyDeleteCryptocurrency is widespread in all country.
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