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What is blockchain? How does it function?
Blockchain is a decentralized and distributed digital ledger technology that records transactions across multiple computers in a way that is secure, transparent, and resistant to modification. Here's how it functions: 1. **Decentralization**: Unlike traditional centralized systems where dataRead more
Blockchain is a decentralized and distributed digital ledger technology that records transactions across multiple computers in a way that is secure, transparent, and resistant to modification. Here’s how it functions:
1. **Decentralization**: Unlike traditional centralized systems where data is stored in a single location, blockchain operates on a network of computers (nodes) where each node maintains a copy of the entire blockchain. This decentralized structure ensures that no single entity has control over the data, enhancing security and transparency.
2. **Blocks and Chains**: Transactions are grouped into blocks, and each block contains a timestamp and a link to the previous block, forming a chronological chain of blocks (hence the name “blockchain”). This chain ensures the integrity of the data and prevents tampering with past transactions.
3. **Consensus Mechanism**: Blockchain uses consensus algorithms to validate transactions and agree on the current state of the blockchain across all nodes. Common consensus mechanisms include Proof of Work (used by Bitcoin) and Proof of Stake, among others. These mechanisms ensure that all nodes in the network reach agreement on the validity of transactions without the need for a central authority.
4. **Security**: Cryptography secures the transactions within blocks, making it extremely difficult for anyone to alter the data retroactively. Each block contains a cryptographic hash of the previous block, creating a chain that is resistant to tampering. Any attempt to alter data in a block would require changing subsequent blocks across all copies of the blockchain, which is computationally infeasible and easily detectable.
5. **Applications**: Blockchain’s applications extend beyond cryptocurrencies like Bitcoin. It is used in various sectors such as finance (for smart contracts and payment processing), supply chain management (for traceability and transparency), healthcare (for secure sharing of medical records), and voting systems (for secure and transparent elections).
In essence, blockchain combines cryptography, decentralized consensus, and distributed ledger technology to create a secure and transparent system for recording transactions and managing data across multiple parties without the need for intermediaries.
See lessWhat changes were made to the Indian Healthcare System after being adversely affected by Covid 19?
The Indian healthcare system underwent significant changes following the adverse impact of Covid-19, catalyzing reforms and adaptations across various fronts. Primarily, there was a heightened emphasis on infrastructure enhancement, with increased investments in healthcare facilities, including theRead more
The Indian healthcare system underwent significant changes following the adverse impact of Covid-19, catalyzing reforms and adaptations across various fronts. Primarily, there was a heightened emphasis on infrastructure enhancement, with increased investments in healthcare facilities, including the establishment of temporary hospitals and the upgrading of existing ones to handle surges in patient volumes. Telemedicine gained prominence as a viable alternative, enabling remote consultations and reducing the burden on physical healthcare facilities.
Policy-wise, there was a push towards strengthening healthcare logistics and supply chains, particularly for critical medical supplies like oxygen concentrators and vaccines. The pandemic underscored the importance of bolstering healthcare workforce capacity, leading to initiatives for training and recruiting healthcare professionals. Furthermore, public health initiatives saw a renewed focus, with awareness campaigns on hygiene, vaccination drives, and disease surveillance becoming more robust and widespread.
Economically, there was increased investment in indigenous vaccine development and pharmaceutical manufacturing capabilities, aiming for self-reliance in healthcare essentials. The pandemic also spurred collaborations between public and private sectors to improve healthcare delivery and pandemic preparedness. Overall, Covid-19 served as a catalyst for reforms that aimed to strengthen India’s healthcare resilience, emphasizing infrastructure, policy flexibility, and public health preparedness to better tackle future health crises.
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