LetsUpgrade-BlockChain/Day 1 Solution.txt at master · HariSuriya520/LetsUpgrade-BlockChain · GitHub

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Day 1
Assignment 1:

Question 1: What is your understanding of Block chain?
Answer:
Block-chain is collection of various blocks which contains store data.
Same data is store on multiple system which formed distributed data base and also it has his own
identity (encrypted).
Block-chain is decentralised technique which does not include any third party.

Question 2: What is the core problem Block-chain trying to solve?
Answer:
1. Identity Theft
2. Managing And Protecting Patient Data in Health Care Organisations
3. Digital Copyright And Piracy
4. Government Systems And Public Sectors
5. Digital Copyright And Piracy
6. Managing And Protecting Patient Data in Health Care Organisations
In short Block-chain is used for each and every sector were authenticity and decentralisation is important.

Question 3: What are the few features which Block-chain will give you?
Answer:
1. Cannot be Corrupted
2. Decentralised Technology
3. Enhanced Security
4. Distributed Ledgers
5. Faster Settlement
6. Automation Capability
7. Tamper-proof

Question 4: What all things does a Block contain?
Answer:
A block represents the ‘present’ and contains information about its past and future.
Each time a block is completed it becomes part of the past and gives way to a new block in the
block-chain. The completed block is a permanent record of transactions in the past and the new
transactions are recorded in the current one.Basically it consist of :
1. Block number
2. Data store in that block
3. Previous key
4. And current key
5. Mining

Question 5: How is the verifiability of Block-chain has been attained?
Answer:
For example a document is created and store on multiple system.
Now every block is store with same data in document. So each of system will have unique key for
block containing same data. In case of data is tried to change or some data is missing with any of system block
then it can be verified with the help of unique key provided to every system. In this way verifiabilty in block-chain
is attained. And hence it makes it unhackable.