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TYPES OF BLOCKCHAIIN

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  TYPES OF BLOCKCHAIN There are 4 types of blockchain: Public Blockchain. Private Blockchain. Hybrid Blockchain. Consortium Blockchain 1. Public Blockchain These blockchains are completely open to following the idea of decentralization. They don’t have any restrictions, anyone having a computer and internet can participate in the network. As the name is public this blockchain is open to the public, which means it is not owned by anyone.  Anyone having internet and a computer with good hardware can participate in this public blockchain. All the computer in the network hold the copy of other nodes or block present in the network In this public blockchain, we can also perform verification of transactions or records 2. Private Blockchain These blockchains are not as decentralized as the public blockchain only selected nodes can participate in the process, making it more secure than the others. These are not as open as a public blockchain. They are open to some authorized users onl...
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COMPONETS OF BLOACKCHAIN

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  COMPONETS OF BLOACKCHAIN The components of a blockchain can be broken down into several key elements: 1. Transactions:    - Transactions are the fundamental pieces of data that are stored on a blockchain. These transactions represent the transfer of assets, such as cryptocurrencies or other digital tokens, between participants on the network. Each transaction typically includes details such as the sender, recipient, amount, and timestamp. 2. Blocks:    - Blocks are containers that hold batches of valid transactions. Each block includes a cryptographic hash of the previous block, linking it to the preceding block and forming a chain. This chaining of blocks ensures the integrity and immutability of the transaction history. 3. Blockchain:    - The blockchain is a distributed ledger that consists of a series of blocks linked together in a chronological order. It serves as a public record of all transactions ever executed on the network. The blockchain i...
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BLOACKCHAIN TECHNOLOGY HISTORY

BLOACKCHAIN TECHNOLOGY HISTORY The history of blockchain technology is a fascinating journey that starts with the conceptualization of a decentralized digital currency. Here's a comprehensive overview: 1. Pre-Bitcoin Era:    - The conceptual roots of blockchain technology can be traced back to the early 1990s with works like Stuart Haber and W. Scott Stornetta's research papers on cryptographically secured chains of blocks. These papers laid the groundwork for secure timestamps. 2. 2008: Bitcoin Whitepaper:    - The pivotal moment in the history of blockchain technology came in 2008 when an individual or group of individuals using the pseudonym Satoshi Nakamoto published the Bitcoin whitepaper titled "Bitcoin: A Peer-to-Peer Electronic Cash System." This paper introduced the concept of a decentralized digital currency, Bitcoin, and the underlying blockchain technology. 3. 2009: Bitcoin Genesis Block:    - On January 3, 2009, the Bitcoin network came into ex...
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