Since the advent of blockchain technology, it has attracted much attention for its unique working principle and high security. This article will delve into how blockchain works and how to ensure that data is immutable and transparent.
How blockchain works
Blockchain is a decentralized distributed ledger technology whose core concepts are “block” and “chain.” Each block contains a certain number of transaction records, and each new block contains the hash of the previous block, thus forming an ever-growing chain.
Decentralized: The blockchain has no centralized governing authority, but is maintained by multiple nodes in the network. This means that no single entity can control the entire system, which improves the security and reliability of the system.
Distributed ledger: The ledger of the blockchain is copied and stored on each node of the network, rather than centrally stored in a single location. This ensures data redundancy and availability while reducing the risk of data tampering.
Encryption technology: Blockchain uses advanced encryption technology to ensure the security of data. Each block contains the hash value of the previous block, and the data in each block is encrypted so that only users with the correct private key can manipulate the data.
Ensure that data is immutable
How blockchain ensures that data is immutable is one of its most compelling features. This is done in several ways:
Hash chain: Each block contains the hash value of the previous block, which is linked in such a way that any data tampering can break the integrity of the entire chain and thus be easily detected.
Consensus mechanism: Nodes in the blockchain network reach agreement through a consensus mechanism, confirming new blocks to be added to the chain. This mechanism ensures that each block is verified and can only be added to the chain after consensus has been reached, thus preventing malicious tampering from occurring.
Distributed storage: Blockchain data is replicated and stored on multiple nodes of the network, rather than centrally stored in a single location. This means that to tamper with data requires modifying most of the nodes in the network at the same time, which is a near impossible task.
Ensure data transparency
In addition to ensuring the immutability of data, blockchain also enables data transparency by:
Public ledger: The blockchain ledger is public, and anyone can view the transaction records in it. This transparency allows all transactions to be traced and audited, increasing transparency and trust in the system.
Smart contracts: Smart contracts on the blockchain are pre-written, self-executing code that ensures transparency and fairness in transactions. The results of the execution of the smart contract are recorded on the blockchain and can be viewed and verified by anyone.
Traceability: Once a transaction on the blockchain is confirmed, it is permanently recorded on the chain and cannot be deleted or tampered with. This means that the history of each transaction can be traced back to when it took place and who was involved, thus enhancing data transparency and traceability.
Blockchain technology, with its unique working principle and high degree of security, ensures the immutability and transparency of data. With the continuous development and application of blockchain technology, I believe it will play an increasingly important role in various fields in the future.