🚀 Unlocking the World of Blockchain: Concepts, Applications, and Building with Ruby on Rails
Blockchain — a buzzword that’s revolutionizing industries. Whether it’s cryptocurrency, supply chain, or smart contracts, this technology is reshaping how we interact with data. But what is blockchain? How does it work? And how can we, as developers, harness its power using Ruby on Rails? Let’s dive in! 🧗♂️
🌟 What is Blockchain?
Blockchain is a decentralized ledger of transactions that are recorded across multiple computers in a way that makes them secure and immutable. It operates without a central authority, ensuring transparency and trust. Think of it as a digital book 📖 shared by many, where each page (or block) is connected in a sequence (a chain).
🛠 Key Concepts of Blockchain
1. Blocks
Each block contains:
- Data (e.g., transactions)
- A timestamp 🕒
- A unique hash (fingerprint of the block)
- The previous block’s hash 🔗
2. Hashing
A hash is a cryptographic representation of the block’s content. Any change in data completely alters the hash, ensuring data integrity. 🔐
