What issues is blockchain aimed at?
1️⃣ High level of trust in the network
👥When there are no intermediaries in the transaction, any participant can deceive another. Therefore, in any peer-to-peer networks, there is distrust between the participants.
⛓️In the blockchain, the problem is solved with the help of algorithms by which blocks are created. The network does not allow changes that most users disagree with. Thus, attackers cannot change or delete information.
2️⃣ Public history of changes
🔐The information may change over time, but when it happens frequently and quickly, it becomes difficult to overwrite the data. In addition, often the change history itself is also fundamentally important so that it is easy and safe to work with this information.
👣Any change of information on the blockchain is a transaction. Transactions are recorded in blocks, and blocks are connected in a chain that cannot be changed due to the connection with hashes. Thus, each participant of the network has access to the entire transaction history, up to the first one. At any time, you can check whether there was a transaction between two participants.