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БАНКРАУРБСРТИВКОА
The blockchain
technology is a P2P
software technology
which protects the
integrity of the
electronic information
(photo: https://blog.networld.to)
banks , the blockchain technology the authorizations of all participants
enables validation of the transfer of in the system are controlled in ac-
funds through thousands of comput- cordance with previously determined
ers of the participants in a blockchain rules of functioning. Such system of
system, which are connected to the data storage and validation of transac-
internet. According to its position- tions has several benefits compared to
ing, this system can be closed or open. the existing system where an institu-
All transactions are copied in every tion does this centrally. Namely, first,
computer and they are confirmed by the investments in equipment and in
specific computers in the network, hardware support in order to process
and once they are connected and vali- all of these transactions makes these
dated, they are recorded in the sys- operations exceptionally expensive
tem records which are simply named and second, the centralized data stor-
the ledger. By coping every transac- age in one place increases the risk and
tion to the computers of all partici- the possibility for a malicious external
pants in the system, they have iden- or internal system user to attempt to
tical information about the course of perform a groundless change in the
all transactions from the first to the records, that is, a system abuse.
last, such system of records in the so
called system ledger is very secure The ledger as an accounting con-
and it provides protection against cept is the heart of the marking of
malicious attacks. Taking into consid- changes in the entities of the econ-
eration that the same information is omy and it is being used for many
kept in thousands of computers, any years. This instrument for recording
change of data in a copy of the ledger the history of transactions through-
of a computer can be automatically out years evolved from recording on
detected by the other computers con- clay through papyrus and paper so
nected in the system at the moment that today transactions are electroni-
an attempt is made to perform any cally recorded. However, conceptually
payment or transfer of funds consid- nothing changed during these thou-
ering that such transaction will not sands of years, one can say that the
be validated by all participants in the only revolutionary change happened
system. The security and the accuracy with the introduction of computers
of data is provided with cryptographic when the data from records on pa-
technology, by using so called elec- per evolved into electronic records or
tronic keys and signatures wherewith bytes. With the introduction of the
blockchain technology, algorithms
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