Blockchain is an innovative system for storing and transmitting information in sequential transaction blocks. Blocks are included in a single database, automatically updated with each new transaction.
In easy phrases, a blockchain is a database that simultaneously operates on thousands of computers (nodes) so that per of them still includes the most up-to-date details. Thanks to this, decentralization is achieved; there is no “main server,” as we are used to seeing it.
The main principle is the transparency of all transactions (each participant can view any transaction at any time) with the impossibility of changing them over past periods. Individually obstruction in this database includes information about the last block. Therefore, changing the information in a separate block, “backdating,” is impossible since this will affect all earlier blocks up to the first one.
At the stage of its appearance, blockchain technology was used exclusively for cryptocurrency, and a little later, it was adopted by some banking structures. However, today, in its hire a blockchain developer, the new system penetrates our daily life quite profoundly. Platforms for creating business applications established on blockchain technology can actually maintain copyright submission, following the production methods of a certain outcome for its keeping with the stated criteria, not to note clearly all monetary transactions.
The development of blockchain projects requires developers to know not only programming languages but also a deep understanding of the principles of decentralized applications and cryptography.
Unicsoft makes it uncomplicated to make a cryptocurrency, create an exchange and run an ICO! As well as blockchain programming creation of smart contracts.
Development of smart contracts
Smart contracts are used for those types of activities where it is possible to automatically fulfill obligations by the parties without the participation and evaluation of a person. An intelligent contract independently monitors whether certain contract conditions have been fully fulfilled. At the same time, thanks to the blockchain system, the code is protected from any third-party interference. That is, no attacker can change the lines of code – the contract terms concluded between two (or more) people.
Smart contracts were first put into practice in 2013 in the Ethereum project; now they are most often used for ICOs: based on a published memorandum (white paper), investors send funds to the account of the corresponding smart contract, receiving in return banknotes that play the role of shares of this startup.
Maintaining high-security norms and opposing DDoS aggression is the cornerstone of blockchain services. Hundreds of cases had already occurred when attackers either disabled services for a long time or stole coins worth tens and hundreds of millions of dollars.