Blockchain technology is one of the most revolutionary technological innovations that has been made in our day today.
It is a structure made for holding data, where groups of valid transactions, referred to as blocks, form a chain chronologically and are linked to one another with cryptography.
Although the Blockchain is being used mostly in the cryptocurrency industry, it is quickly adapted for storing enterprise data.
Blockchain technology is extremely secure, and so far, there has not been a technological development capable of destroying it.
However, one question still rises in the heart of many today, and that is; can blockchain be destroyed? Well, let’s find out!
Is it Possible for Blockchain to be Destroyed?
Speculations are being made by certain researchers that a new technology that is capable of destroying the Blockchain is beginning to emerge.
This technology is called “quantum computing.” Scientists argue that there is a high possibility that quantum computers would be capable of breaking the cryptographic codes of a blockchain within less than a decade.
This can be a huge problem, especially when considering the sheer volume of global gross domestic product stored on the Blockchain in the nearest future.
However, so far, so good, there hasn’t been a technology capable of breaking the Blockchain, nor has there been any governing body that can modify its data. Furthermore, there has been no point where hacking or destroying the database can be done.
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Why is Blockchain soSecure?
There are a lot of mechanisms through which Blockchain is secure. Such mechanisms include advanced cryptography and mathematical models of decision-making.
The Blockchain is the structure that backs many cryptocurrencies and prevents the destruction or duplication of any digital currency.
Blockchain technology is also being widely adopted in several other fields like medicines, securing medical databases, and the prevention of tracking donations to charity. However, blockchain technology is not a simple topic of discussion and would require a profound understanding of the basics.
The Purpose of Cryptography in Blockchain Security
Cryptography is a fundamental aspect of blockchain security and is highly essential. Cryptographic hashing is an aspect that cannot be ignored. Hashing in cryptography is when a hash function or an algorithm collects data input, regardless of the size.
It returns it as a hash or output with a fixed size and is predictable. The output will always give the same size no matter the input data’s size. However, if the input changes, the output will also change completely.
These hashes or output values in blockchains are unique or special identifiers for data blocks. Each block’s hash generated is done concerning the generated hash of the previous block, hence forming chains of blocks linked together.
The data found in each block makes up the block’s hash. Therefore, a block hash would be affected if any change is needed to the data. Hence, creating a block’s hash would depend on the data from that block and the previous block’s hash.
Blockchain technology is a remarkable innovation that has made transactions easier in some fields. However, improvements and advancements would need to be made to stay relevant as technology advances.
