Blockchain - What is Blockchain Technology - Loopholes of the current Blockchain [Part 3]
![Loopholes of the current Blockchain [Part 3]](https://blogger.googleusercontent.com/img/a/AVvXsEjenNSDkpdqgVATHRdwlVCpKxYgjxxIFKqy-ljAodedpcQEnE30srQ1Q2991D745EO6lDIQDlPcmpOVfUhT13ErCD1iWOTL7dgbv9_G7EsGcXSd14Mh9moYUFsAflA7IjvRdl_Hs3geacf-iwp_QRZiYW-P9MSDEPLyPNkmGt8so_FGG_o6mBEPRP0G=w400-h265 "Loopholes of the current Blockchain [Part 3]")
Hello everybody, Welcome back to Learn Tech Tips channel, Continuing with part two, we learned about Blockchain technology, its decentralization and transparency. We also see that the newly created technology has the disadvantage that it is very easy to hack. Since we have the last transaction in the chain, tracing the Hashes of each element in turn will result in a chain of the entire Blockchain array.
Editing by recomputing the entire Hash for matching and synchronization now only takes a few moves and the data will automatically be complete in all machines in the peer-to-peer network.
Yes, you will say that there is an algorithm to check array's block on your device and array's block is downloaded from the P2P network to see the difference before syncing. Looks like exist that algorithm.
But this algorithm favors the array that is "longer" as the array considered to be the correct array.
Therefore it is not powerful enough to solve the problem of hacking.
There's only one Way to settle this, That is the time limit for Hash to be a Blockchain.
We have to increase the difficulty of the Hash algorithm so that Hashing a string will take a lot of time.
This also means that it takes a certain time to add a new Block to the system.
For example, the BitCoin coin stipulates that every 10 minutes a new record is allowed to be added.
Why do we need this?
- Prevent the Blockchain system from being SPAM, people constantly add new fake transactions to the system.
- This can lead to excessive temperatures and possibly premature bearing failure.
They can be taken away.
Prevent tampering of the system, because the time it takes for a hacker to Hash 100 records will be equal to 100x10 minutes = 1000 minutes.
- Therefore he will not easily clone the whole system and Hash out new code.
- When a user wants to add a new record to the system, he has to prove he really wants to transact.
- And to prove it he needs to spend the machine's resources to calculate the Hash, and after a certain time, he will successfully register the serial record (chain) into the Blockchain.
This process is called Proof-Of-Work.
On the Blockchain technology part 4 I will share with you code with PHP increase the time for hash
Learn Tech Tips - Zidane
Related Posts:
Blockchain Part 1: What is Blockchain: https://learn-tech-tips.blogspot.com/2021/12/what-is-blockchain.html
Blockchain Part 2: Using PHP develop Blockchain Technology: https://learn-tech-tips.blogspot.com/2021/12/using-php-develop-blockchain-technology.html
Blockchain Part 3: Loophples of the current Blockchain:
https://learn-tech-tips.blogspot.com/2021/12/loophples-of-the-current-blockchain.html
Blockchain Part 4: Create virtual currency mining technology:
Blockchain Part 5: How to create own bitcoin virtual currency
Blockchain Part 6: Apply blockchain application in the life
