Fundamental of Block Chain[2]

Keywords: Hash Algorithm/Little Data/Crypto-Currency/Originality/Transferable/Security Tech/Distributed Network

1. Hash: Convert a certain sentence into a value with constant length (12bit, 16bit, and so on), regardless of the length of the initial sentence.

EX) Merry Christmas      =>    1PG2CA)71&2% (12 bit)

        Herry Christmas      =>     9%575E04(948 (12 bit)

        Happy New Year     =>    AN4728%29(P1 (12 bit)

                       (After Hash Algorithm)

* If the sentences are exactly same, they will have exactly same hash value.

* But if the sentences are a bit different even if only one word difference, then they will have completely different hash value.

-> Due to this characteristic, we are NOT able to assume based on the combination of hash value.

* You see, and hash values are exactly same, then the original contents are same as well, even if you never get to see the original contents.

2. Advantages of Hash

  1) Being able to compare whether the original sentences are same with little amount of data, regardless of however long the sentences are.

  2) It does not take long time to compare.

  3) Prevent the "Public Trading Account Book" from counterfeiting.

-> All blocks know what hash of the previous block and compare that hash to new block's hash.

  Each block is connected one another, having hash value. <=>ㅁㅁㅁㅁㅁㅁㅁㅁㅁㅁㅁㅁㅁㅁ

* If somebody tries to counterfeit, the hash value was changed, and he distributed.

However, meanwhile, new blocks are being created every 10 mins.

So a hacker has to be faster to counterfeit successfully, but it is not possible with today's technology.

(Top 500 best supercomputers in whole world cannot catch up the calculation out of majority computers' capability that block chain users use.)