Super Charge with The Power of Binary System on Blockchain (AXM)
elyna ezza
DeFi
1 month ago
As days pass by many investors and enthusiasts are taking an interest in the topic of blockchain, and its concept and trying to implement major formulated use cases to advocate in real life. While incorporating blockchain technology, experts and developers seem to leverage the power of the binary system to make possibilities become realities. As we all are aware the term ‘Blockchain’ refers to a type of ledger technology helping, storing, and recording abundant data sets in a decentralized and immutable manner.
Read Here: https://elynaezza.medium.com/super-charge-with-the-power-of-binary-system-on-blockchain-axm-06bed082b2c5
Blockchain technology can be used for several applications to create or transfer value, issue, or tackle assets, and record countless transactions/events, along with advancement in smart contracts. Once you get to know the concept of blockchain, the core facet shows that it uses cryptography in order to safeguard and validate the data. Henceforth, cryptography is defined as the science of encoding/decoding information or data sets using mathematical techniques.
After digging into the common forms of cryptography you will find binary system is one among them which is termed as a system to represent information or data sets using only two initial symbols: 0 & 1. Considering the name ‘Binary system’, we all know about the basis of computer logic and programming which counts this term as the core knowledge of those who entered the virtual era.
Blockchain And Binary System
The concept of the terminology ‘Blockchain’ and ‘binary system’ are closely related and uses mathematical algorithms in order to process, maintain, and store data sets or sorts of information. One instance can be considered as a blockchain using hash functions that are the same as mathematical functions used to map any input to a fixed-length output. The process is called a hash or a digest.
Hash functions seem as a one-way which makes it easy to compute the output from the input, however complex to find the input from the output. Hence, experts use these hash functions to develop digital signatures and unique identifiers that are used to prove the authenticity and integrity of any kind of message/transaction. To chain blocks together you can use hash functions by including the hash address of the previous block in the current block. Therefore, it will place a chronological and tamper-proof record of information.
The second example can be considered as the way blockchain operates binary system is proof of work [consensus protocol] which is used to determine how new blocks get added to the blockchain. PoW needs a set of nodes/participants of the network in order to solve and sort a mathematical puzzle. Such a process includes finding a hash that suits a certain criterion.
Read Here: https://elynaezza.medium.com/super-charge-with-the-power-of-binary-system-on-blockchain-axm-06bed082b2c5
Blockchain technology can be used for several applications to create or transfer value, issue, or tackle assets, and record countless transactions/events, along with advancement in smart contracts. Once you get to know the concept of blockchain, the core facet shows that it uses cryptography in order to safeguard and validate the data. Henceforth, cryptography is defined as the science of encoding/decoding information or data sets using mathematical techniques.
After digging into the common forms of cryptography you will find binary system is one among them which is termed as a system to represent information or data sets using only two initial symbols: 0 & 1. Considering the name ‘Binary system’, we all know about the basis of computer logic and programming which counts this term as the core knowledge of those who entered the virtual era.
Blockchain And Binary System
The concept of the terminology ‘Blockchain’ and ‘binary system’ are closely related and uses mathematical algorithms in order to process, maintain, and store data sets or sorts of information. One instance can be considered as a blockchain using hash functions that are the same as mathematical functions used to map any input to a fixed-length output. The process is called a hash or a digest.
Hash functions seem as a one-way which makes it easy to compute the output from the input, however complex to find the input from the output. Hence, experts use these hash functions to develop digital signatures and unique identifiers that are used to prove the authenticity and integrity of any kind of message/transaction. To chain blocks together you can use hash functions by including the hash address of the previous block in the current block. Therefore, it will place a chronological and tamper-proof record of information.
The second example can be considered as the way blockchain operates binary system is proof of work [consensus protocol] which is used to determine how new blocks get added to the blockchain. PoW needs a set of nodes/participants of the network in order to solve and sort a mathematical puzzle. Such a process includes finding a hash that suits a certain criterion.
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