Blockchain Technology and the Possibilities of Its Use

Abstract

2020. Т. 20, No 3. С. 135–139 135 Introduction In simple terms, blockchain is a database that is stored and updated simultaneously on different devices. Database management is autonomous and decentralized. The database stores and confirms the accuracy of the information and the safety of this data is provided by cryptographic algorithms. Information with this architecture is stored reliably, since many copies of the same data set are simultaneously stored on computers of an unlimited number of users of the entire system. Depending on the order of access to information, system management, participant’s capabilities, a private blockchain and a public blockchain are distinguished. And each type of system is applicable to individual tasks of the project and to different goals [1–5].