What do you mean by Mining in Block Chain

Dear All,


Mining is not the process of creating new bitcoins . Mining is the mechanism that always makes the blockchain to be a decencentralized security model. Always this process is wrongly interpreted as making bitcoins. 
Here through mining the blockchain is made a decentralized one.
Miners actually validate transactions in blockchain and record the same in a global ledger called Blockchain.

Bitcoin

Hi dears
Bit coin in a cryptocurrency introduced in 2019. This concept introduced by Danthosi Nakamoto. Bit coin is a kind of decentralized system run by no govt. Authorities.

We can't see bitcoins..but only balances in a public ledger.
No banks or persons support or back these currencies..

Application of Block Chain in a University

HI All,

●Universities can upload degree data or certifictes to blockchain
 ●Students are given link to their degree data
●Employers can confirm that degree is valid using this concept
●Degree information cannot be changed and can be shown to have come from relevant institution

Comparison of Block chain with a Ledger

HI All

● Periodically manages transactions as a block (similar to a page in a paper ledger)
● Each block depends on the previous block making a chain from the origin ( A new Hash will be computed)
● To edit a transaction in a block would require recalculation of all blocks after it.**
● Normally uses a distributed ledger with a consensus system and public/private key cryptography

** so if one intentionally modified a block then the hashes of all other blocks in the chain will become invalid and the unauthorised transaction will be marked invalid.

What is Blockchain

Hi All,

Thanks for your interest to learn Blockchain along with me...

Blockchain technology is simply defined as a kind of decentralized, distributed ledger that stores the origin of a digital asset.
Block chain replaces the conventional distributed database.

A distributed Database fails due to its complexity, cost and ownership matters.