The blockhcain technology and its practical use

DOI №______

Abstract

Blockchain technology has emerged not so long ago, but has gained popularity and is of great importance for various operations due to its security and reliability. Its main area of application is economics, in particular, cryptocurrency, but potentially technology is useful for a variety of industries, and most of its capabilities are only to be put into practice. The article is devoted to a brief overview of technology, principles of its operation and possible applications in various fields. In general, blockchain technology is a distributed system of records that are interconnected, validated and easily verifiable. These records can be described by anyone, from money transfers to contracts. The main thing is that the information in these records must be verified, verified and simply reliable. The essence of technology is that blockchain is a huge distributed public database. It does not have a central management, transaction verification is handled by a special category of users called Miner. The miner confirms the authenticity of the completed transactions and forms from them blocks that line up in chains. The construction is based on the fact that each subsequent block contains information about the previous one. In the absence of intermediaries lies the main advantage of technology. At present, all transactions with money, documents and other data require the presence of intermediaries, verify the authenticity of the transactions. In blockchain transactions are verified and confirmed by the system members. The network code is accessible to everyone, and anyone can view transaction transaction data — anything but confidential: the identity of the owner and his personal data. The technology is great for authenticating a user. Validation confirms that the user has a valid and correct key to access the system.

Keywords: blockchain; future technologies; information technologies; Bitcoin; cryptocurrency.

References
1. Загальна інформація про криптовалюту біткоїни, перспективи і можливості інвестування [Електронний ресурс]. URL: http://mixinvestor.com/unikalnaya-virtualnayavalyuta-bitcoin.
2. Antonopoulos A. M. Mastering Bitcoin. O’Reilly Media Inc., 2017. 371 р.
3. A review of Blockchain tools and the use of distributed databases within the transport industry [Електронний ресурс]. URL: http://www.diva-portal.org/smash/get/ diva2:1116772/FULLTEXT01.pdf
4. A study on transparency in logistics and securing sustainability in transport contracts using Blockchain technologies [Електронний ресурс]. URL: http://lup.lub.lu.se/luur/download func = downloadFile & recordOId = 8880383&fileOId = 8880390
5. Benefits and use-cases of Sovrin authentication technology [Електронний ресурс]. URL: https://medium.com/@windley/sovrin use-casesauthenticationaf43c36f4325
6. European policies on data protection in the EU and data transfers outside the EU [Електронний ресурс]. URL: http://ec.europa.eu/justice/data-protection/ article29 / documentation / opinion-recommendation / files / 2014 / wp223_en.pdf
7. Gates M. Blockchain: Ultimate guide to understanding blockchain, bitcoin, cryptocurrencies, smart contracts and the future of money. Mark Gates, 2017. 125 р.
8. Technical information on Bitcoin’s processes, keys and purposes [Электроний ресурс]. URL: https://bitcoin.org/en/how-it-works