What is Crypto Blockchain? Byzantine, BFT, and SPOF?

What is the Blockchain of Crypocurrency?

Data is distributed and held on geographically separated servers, recorded data is not lost (non-tampering), and it continues to operate even if some servers are compromised (Byzantine resistance).

Blockchain is a new database.

The feature is that a unit of data storage called a block is generated in a certain period of time and has a data validation model called a consensus algorithm (consensus building) that is held between each server.

Bitcoin is the first blockchain application to run on a public blockchain that is accessible to everyone, but with the advent of highly secure databases, it records numbers equivalent to transactions and balances and is used for various operations.

The value as a virtual currency was born by gaining high trust that it will continue to endure.

Blockchain is middleware, regardless of the infrastructure environment such as servers.

Blockchain technology is broadly divided into applications and platforms (basic technologies).

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Blockchain’s Immutability

Each transaction (data) is stored in consecutive blocks.

Since the block has a dependency, if you tamper with a part of the past, you have to tamper with all subsequent transactions in a consistent manner, which is virtually impossible.

Blockchain’s Byzantine Fault Tolerance (BFT)

Even with a certain number of Byzantine nodes (liars or broken computers), the blockchain will continue to work properly.

Blockchain’s Elimination of Single Point of Failure (SPOF)

A part where the entire system becomes an obstacle if a single part does not move.

In conventional systems, the master, controller, certificate authority, etc. are single points of failure.

There is no single point of failure on the blockchain.

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