More often you can hear about the technology blockchain in completely different fields around the world.
For example, users of the first blockchain lottery Unilot actively play and make bets, but do not always understand what blockchain is and how it works. Nowadays, there is ICO on Unilot platform — the initial placement of UNIT tokens, which can still be purchased at a discount.
Let’s figure out what blockchain is and how it works! Blockchain is a technology for storing information or a digital list of transactions, agreements, contracts. Everything that is required individual records and, if it is necessary, verification. Blockchain is a storage of information on available loans, property rights, breaking of traffic rules and so on. In principle, everything. Its main difference and at the same time the most important advantage is that this list is not stored in only one place. It is dispersed among a couple of hundred or even thousands of computers around the world. All members of this network can freely connect to the current version of the registry, making it transparent to all users.
Numerical records are joined in “blocks”, which subsequently establish a “chain” connection between themselves cryptographically and sequentially using special mathematical algorithms. Each block has a link to the previous one and consists of a combination of records. New blocks are placed only at the end of the chain. The encryption procedure, which is called hashing, is performed by a large number of different computers that operate on the same network. If, as a result of their calculations, all have the same result, then the block will be assigned an individual digital signature. After adjusting the list and forming a new block, it is no longer possible to correct it. It turns out that it is impossible to forge it. It can only be replenished with new records. It should be taken into account that the list is replenished on all computers on the network at one time.
The distributed blockchain database is almost impossible to hack, because for this it is necessary to have simultaneous access to all copies of the database on the network. In addition, thanks to this technology, you can secure personal information, because the hash process can not be undone. If even changes are made to the primary document or transaction in the future, they will eventually be assigned another digital signature, which indicates a mismatch in the system. In this way, Unilot users can be assured of maintaining the game consensus, synchronizing all participants and storing logs of lotteries.
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