What information can we put into a blockchain

The blockchain tool became known in the 2009, when it was decided to apply it also to cryptocurrencies.

But this transaction control system was already used for the security it could give to every single transaction, no matter who and when.

La blockchain is a chain of encrypted blocks huge, which contains an infinite amount of precise and not easily modifiable information on the transactions that have taken place. In essence, the information that can be entered in the blockchain is that which concerns a certain transaction: the blockchain preserves both its data and the precise date and time.

Depending on the time of conclusion of the transaction, the new blocks in the blockchain are added in a row, always in an absolutely secure way. In this way it is possible to conclude exchanges and transactions that remain always recorded and verified. with special tools such as etherscan.

The blockchain tool is essentially an open information system. An open register distributed and structured in a block, where it is possible to view all the information and verify its validity. The blockchain is very safe, not surprisingly it is also used in political sphere, although for his large-scale experiments we will probably have to wait a little longer. In any case, the information that a blockchain chain can contain is really numerous. Its application fields go far beyond the 'single' application to virtual coins, such as bitcoins. 

Blockchain security

The security of the blockchain is based on the fact that in the chain information can be added but those additions can no longer be modified: this element guarantees the maximum transparency of the information in the database.

Who controls who inserts transactions and information? The nodes in the network, which have the function of validating the information and sealing it with the closure of a block in the chain.

Once the block is closed, the system is controlled and secure, constantly updated by all nodes, not modifiable and therefore transparent. 

Information in the blockchain: not just cryptocurrencies

In the popular imagination, the complex technology behind the blockchain is often conceived as a tool used 'only' for the cryptocurrency. In reality, this consensus-based system can be used for many reasons: there are really many transactions and operations that can take place through the blockchain, although surely this instrument has become famous thanks to cryptocurrencies. The blockchain system can also be applied in the political field:

  • for safe election management
  • for digital identity management
  • for cloud computing
  • in the health sector
  • for the traceability of products (Blockchain Vet)

For example, in Sierra Leone the elections took place precisely by exploiting the blockchain technology: and not only, the studies for its application in the health and medical field are in its infancy.

The blockchain protocol is particularly suitable for securing the movement of virtual money, not surprisingly the most famous application, nowadays, is that of bitcoins. 

Not all blockchains are the same

1) Not all coins are blockchains but rely on existing ones such as Ethereum which uses the protocol ERC20,

2)Anonymity : some instead have different levels of anonymity, first of all Monero, Verge, Zcash.

3) Information: not all of them are created to store the same information

4) Prof of Work, Prof of Stake, some seal the blocks with the miner, others instead with the consent of the nodes.