A THOUGHT OF TRUST

The usage "digitizing everything" has become a new trend to back or strengthen every aspect of life. From normal text messages to cloud computing, there goes an endless list of internet magics.

But it was in trouble before the question, "Is everything trustworthy?".There comes the heart and soul of the trust "blockchain".

Indian reforms, including incorporating blockchain in the electoral systems, health cards projects its future to tackle malpractices and to put a shutdown to the so-called "unfairness".

Blockchain got its popularity when Satoshi Nakamoto introduced digital currencies such as bitcoins in 2009. The reality is, the scope of it is vast other than cryptocurrencies.

What is Blockchain? in simple terms, it is a chain of blocks of trust.

Each block has three parts, such as data, hash value, and previous block hash value. Data can be anything, for example, "smart contracts" a powerful language stored to trigger automatic transactions using it. One aspect of security is provided through hashing, but we can imagine the power of modern computers to crack it. The next thing is using the previous block hash value, when a particular block is being hacked the entire chain system collapses, to add a new block too, it undergoes a 10 minutes procedures or proof of work to ensure no tampering is happening and then only it is introduced to the chain system.

Rather than all of these, the most prominent feature of blockchain is, there is no centralized owner for it and it's a peer-to-peer network. Each of us is equally responsible for it, each untampered block added by one user after authentication is simultaneously added to all users' chains. Hence a distributed trust is being built and makes it difficult to hack.

A mechanism to store all confidential data and to minimize infrastructural cost paves the way toward blockchain. We often think about the ways to make electricity reachable to remote areas, but the initial cost of setup is huge. Integrating blockchain and IoT(Internet of things) can minimize this cost too. A platform to exchange excessive energy generated in a house to the needy house and securing this transaction using the blockchain. Uplifting the agriculture sector through blockchain are all solutions to modern-day problems.

Let's all welcome this eminent guest to our common life to build a trustworthy community.