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by Yap Heng Kiong
A blockchain is a cryptographically secure distributed ledger. Transactions (either money or records) are validated by complex computer algorithms. Verified transactions are “Chained” together in “Blocks” using cryptography. (that’s why the name Blockchain). In Blockchain, the ledger is not stored in any centralised server; but distributed via a network of computers. Each node sees the same set of data (transactions). Data is stored in ledgers across all nodes (hence distributed) in the Blockchain network. Ledgers are updated when there are new validated transactions. Additions to the Blockchain can only be made after validation using a Consensus Mechanism. The two most popular ones being Proof-Of-Work (PoW) and Proof-Of-State (PoS). This makes it extremely difficult for anyone to tamper with the data. Can Data Stored on a Blockchain Be Erased?Each node on a Blockchain network has a verified, up-to-date and immutable history of all transactions. Once validated, transactions cannot be altered and cannot be tampered with. Data is reversible only by a subsequent transaction. What is the difference between a distributed database and a centralised database?A centralised database can be explained using the analogy of a document being shared among users via emails. All owners update records on the same Master copy. All parties involved would need to wait until receiving a return copy before one can see or make other changes. On the other hand, a decentralised database is like when multiple parties work on a shared document in the cloud, changes made at any nodes are synchronised. Blockchain uses decentralised database system (or distributed ledger), records are not stored in any single location. Once a record or transaction is stored on a Blockchain, it is extremely difficult to amend. I am creating a multi-part guide on the fundamentals of Blockchain. Part 1 and 2 have been released and can be found at below link.
Click here to access the guide Part 1 - What is Blockchain? Part 2 - Centralised vs Decentralised Database
3 Comments
10/28/2022 05:42:28 pm
Really Informitive! 100% Proprietary technology, all built in-house. We build and own all our technology. No third parties, you deal with only us.
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2/27/2024 11:01:03 pm
IoT SIM cards, tailored for Internet of Things (IoT) devices, facilitate connectivity by providing cellular network access. Unlike traditional SIM cards, they prioritize low power consumption and data transmission efficiency. IoT SIMs enable devices to communicate, exchange data, and access the internet over cellular networks, crucial for IoT applications spanning industries like smart homes, healthcare, logistics, and agriculture. These specialized SIM cards often offer features like remote management, secure connectivity, and scalability to support the diverse needs of IoT deployments.
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IoT (Internet of Things) SIM cards are specialized subscriber identity modules designed for devices connected to the internet, excluding traditional smartphones and tablets. These SIM cards enable connectivity for various IoT applications, such as smart devices, sensors, and machines. They typically offer features like low power consumption, secure data transmission, and remote management capabilities. IoT SIM cards facilitate the seamless integration of IoT devices into networks, enabling efficient data exchange and communication in the rapidly expanding IoT ecosystem.
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