Blockchain, But Not an Ordinary “What is Blockchain” Article
What exactly that blockchain can change to our “Real” life
During the development of the internet, there is an event that can be a mark to divide the process into next stages. Start from creation of first wide-area computer networks(1960s), electronic mail system(1970s), world wide web (1990s) and creation of the first browsers and search engine. Step by step of those landmarks change the internet dramatically and creating the internet that we know today. In a similar way, blockchain can be said as one of those landmarks too.
There is already a lot of article talk about what is blockchain, how does it work etc. Our main topic today will not be going to talk much about it so I will just make simple briefing for what blockchain.
What is Blockchain?
When you hear about blockchain, maybe you will be confused about it. It seems complicated and hard to understand but core concept of blockchain is actually just an “Databases”. Databases that store and export an information when you need it, that is what blockchain can do to us. So what is difference blockchain to ordinary database? One key difference between a typical database and a blockchain is the way the data is structured. A blockchain collects information together in groups, also known as blocks, that hold sets of information. Blocks have certain storage capacities and, when filled, are chained onto the previously filled block, forming a chain of data known as the “blockchain.” All new information that follows that freshly added block is compiled into a newly formed block that will then also be added to the chain once filled.
The most important point of blockchain is Decentralization and that will be our main topic today
Decentralized
When we talk about blockchain, we usually assume that blockchain is a technic, is new type of technology. Yes, you can say that is right but what blockchain bring to us is more about brand new “Concept” to our culture, our environment. Blockchain introduce to us a new model that internet services can be, that called as decentralized. Currently most of services that being provided is centralized and being own by some company. Like YouTube services is provided by their server and own by YouTube company, Google search engine and services provided by Goole and own by it too. It made of a multiple user’s node that connect to a giant node of services provider and provider have absolute administrative of it. Decentralized or blockchain work in different ways. It did not have a service provider. All node of user has cross references to each other and help to make a record of every transaction that is happens. Roles of all users is same a no one own an administrative power of this services.
What Make Decentralized Unique?
As example I said above, most of the services in world right know use the same centralized model. Not only on the internet but also outside the internet, for example currency is product services provide by Bank and being administrative by government. Government itself can be said as some services provider to our life while they gain some fee from us. Now here is a importance point, we give them a “Fee” to get a “Services”. Provider of services will gain a fee while they help us to maintaining services that can we use. But decentralized make a service that “Not Own” by anyone, there is no admin, no one can claim as owner of this services. That is why this model has not being use widely now because it’s not suitable with current world business pattern. Researcher or services maker cannot gain surplus from it. “Centralized services that the provider can get profit” or “Decentralized services that everyone is free to use and support, but services maker cannot get profit”, the choice being those two models will be mass discuss in future from now.
Does Blockchain have pros and cons on it?
For all its complexity, blockchain’s potential as a decentralized form of record-keeping is almost without limit. From greater user privacy and heightened security to lower processing fees and fewer errors, blockchain technology may very well see applications beyond those outlined above. But there are also some disadvantages.
Pros
· Improved accuracy by removing human involvement in verification
· Cost reductions by eliminating third-party verification
· Decentralization makes it harder to tamper with
· Transactions are secure, private, and efficient
· Transparent technology
· Provides a banking alternative and way to secure personal information for citizens of countries with unstable or underdeveloped governments
Cons
· Significant technology cost associated with mining bitcoin
· Low transactions per second
· History of use in illicit activities
· Regulation
Conclusion
What that Blockchain bring to us is not just new technology, but also a new point of view, new conceptual transactions model in human society. With this concept maybe in future days we will see a completely different transaction way in our world not only in world wide website , but In our real life too.
