{"headers":{"Content-Type":"application\/x-www-form-urlencoded"},"body":"source_lang=EN&target_lang=PL&tag_handling=xml&split_sentences=1&preserve_formatting=1&text=What+is+a+blockchain%3F&text=A+blockchain+is+a+decentralized%2C+digital+ledger+in+which+exchanges+of+value+are+recorded+chronologically+and+publicly.+We+explore+how+this+technology+works%2C+and+where+it+might+be+used+in+the+future.&text=%3Cem%3EA+decentralized%2C+digital+ledger+in+which+exchanges+of+value+are+recorded+chronologically+and+publicly.%3C%2Fem%3E%0A%0ABlockchain+technology%2C+as+we+know+it+today%2C+was+first+outlined+by+the+anonymous+author+Satoshi+Nakamoto+in+the+Bitcoin+white+paper.+As+Nakamoto+outlined%2C+transactions+issued+in+Bitcoin+are+verified+through+cryptography+and+recorded+in+a+publicly+distributed+ledger.%0A%0AMorden+banking+or+record-keeping+systems+may+hold+a+copy+of+a+ledger+that+represents+the+flow+of+financial+transactions+through+one%E2%80%99s+account.+Principally%2C+account+holders+trust+persons+or+organizations+to+uphold+the+integrity+of+a+ledger+and+to+verify+both+incoming+and+outgoing+transactions.+As+such%2C+common+ledgers+are+not+immutable+-+they+are+vulnerable+to+accidental+or+intentional+manipulation+whether+by+error+or+design.%0A%0ABlockchain+technology+solves+this+problem+by+eschewing+the+need+for+a+%27middleman%27%2C+and+instead+broadcasts+a+public+ledger+on+computers+-+%27nodes%27+-+around+the+world.+Whereas+one+might+rely+on+the+trustworthiness+of+a+bank+to+authenticate+the+integrity+of+a+ledger%2C+blockchain+technology+instead+relies+on+cryptography+%28the+art+of+writing+or+solving+codes%29+as+its+proof.%0A%3Ch2%3EWhat+is+blockchain+technology%3F%3C%2Fh2%3E%0ABlockchain+technology+draws+its+name+from+its+underlying+data+structure+that+consists+of+1-megabyte+files+called+%E2%80%98blocks%E2%80%99%2C+which+are+essentially+ledgers+themselves.+Blocks+are+%E2%80%98chained%E2%80%99+together+through+a+complex+cryptographic+proof+which+ensures+permanence%3B+like+a+fly+being+encased+in+layers+of+amber%2C+transactions+are+repeatedly+confirmed+over+time.+Were+a+party+to+attempt+to+edit+a+historical+transaction%2C+all+transactions+thereafter+would+immediately+signal+the+error.%0A%0AOn+an+%27open%27+system%2C+all+network+nodes+have+the+potential+to+access+a+blockchain+and+view+authenticated+transactions.%0A%0AThis+means+that+computers+around+the+globe+each+hold+a+copy+of+that+public+ledger%2C+and+transactions+made+in+a+network+are+visible+for+all+to+see.%C2%A0Transacting+parties+are+pseudonymous+as+a+blockchain+does+not+illustrate+the+names+of+parties+but+instead+provides+an+alphanumeric+designation.%0A%3Ch3%3EWhat+is+%27proof-of-work%3F%27%3C%2Fh3%3E%0AThe+process+of+authenticating+pending+transactions+and+collecting+them+into+a+block+to+include+in+a+blockchain+is+called+proof-of-work%2C+or+%22Mining%22.+%E2%80%9CMiners%E2%80%9D+are+computer+users+with+incredibly+powerful+hardware+that+solve+complex+mathematical+problems+to+cryptographically+sign+a+block+of+transactions+and+connect+them+to+all+previous+transactions+in+a+network.%0A%0AMiners+serve+cryptocurrency+communities+by+securing+a+network.+The+process+of+solving+the+cryptographic+proof+for+a+block+is+extremely+resource+intensive%3B+by+winning+the+race+to+mine+1-megabyte+%E2%80%98blocks%E2%80%99+of+transactions%2C+Miners+receive+a+%E2%80%98bounty%E2%80%99+or+%E2%80%98reward%E2%80%99+in+a+relevant+cryptocurrency.%0A%0AA+malicious+transaction+requires+so+much+computation+%28and+thus+electricity%29+that+in+almost+all+cases+it+is+more+profitable+to+use+that+same+compute+power+to+secure+the+network+instead+and+collect+the+block+reward.+This+is+what+prevents+bad+actors+from+attacking+the+network+and+preserves+the+blockchain+from+recording+malicious+or+fraudulent+entries.%0A%3Ch3%3EWhat+is+%27proof-of-stake%3F%27%3C%2Fh3%3E%0ANewer+cryptocurrencies+have+instead+developed+a+new+mechanism+called+proof-of-stake+that+converts+the+process+of+resource-intensive+%27mining%27+to+one+wherein+coin+holders+are+afforded+network+resources+and+authority+relative+to+the+coin+holdings+that+they+are+prepared+to+%E2%80%98stake%E2%80%99+on+a+network.%0A%0AWhile+proof-of-work+mining+leverages+processing+power+to+solve+increasingly+difficult+puzzles%2C+proof-of-stake+verification+attributes+mining+power+to+the+proportion+of+coins+held+by+a+miner+in+the+first+instance.%0A%0AThe+method+draws+its+name+from+the+fact+that+in+this+scenario%2C+a+miner+is+limited+to+mining+a+percentage+of+transactions+that+is+correlated+with+their+%E2%80%98ownership%E2%80%99+stake+in+a+network.%0A%0AThrough+either+of+these+mechanics+-+or+a+mixture+thereof+-+users+around+the+world+can+assist+in+running+a+blockchain.+Despite+the+probability+that+these+users+are+acting+in+self-interest+%28to+gain+a+reward+in+the+form+of+a+cryptocurrency%29+their+actions+are+inherently+beneficial%2C+rather+than+destructive%2C+to+a+blockchain+network.%0A%3Ch3%3EHow+does+a+blockchain+manage+transactions%3F%3C%2Fh3%3E%0AWhen+transacting+on+a+blockchain%2C+parties+leverage+what+is+called+a+%E2%80%9CWallet%E2%80%9D+to+exchange+denominations+in+a+cryptocurrency.+Wallets+provide+their+users+with+both+a+Public+Key+%28the+address+from+which+one+sends%2C+or+from+which+one+receives+a+cryptocurrency%29+as+well+as+a+Private+Key.%0A%0AA+Private+Key+is+a+%E2%80%98signature%E2%80%99+for+users%2C+which+is+used+to+confirm+pending+transactions+by+giving+a+mathematical+proof+that+they+originated+from+the+owner+of+the+wallet+in+question.%0A%0AWhen+a+user+wishes+to+transact%2C+their+intention+is+signaled+on+a+blockchain+by+submitting+a+transaction+signed+with+the+user%E2%80%99s+private+key.+A+network+then+validates+the+transaction+by+checking+that+the+%3Cem%3Eto%3C%2Fem%3E+and+%3Cem%3Efrom%3C%2Fem%3E+addresses+are+valid%2C+that+the+private+key+is+valid%2C+and+that+it+has+access+to+enough+funds+to+perform+the+transaction.+The+transaction+usually+confirmed+on+the+network+within+minutes%2C+and+is+then+broadcasted+to+a+blockchain+network+within+a+%27block%27.%0A%3Ch3%3EWhat+is+a+%27public%27+blockchain%3F%3C%2Fh3%3E%0AA+public+blockchain+has+no+access+restrictions%2C+meaning+that+anyone+with+an+internet+connection+would+be+able+to+issue+a+transaction+when+running+relevant+software%2C+or+become+a+validator+on+such+a+network+on+the+first+instance.+The+Bitcoin+network+is+the+first+example+of+a+public+blockchain.%0A%3Ch3%3EWhat+is+a+%27private%27+blockchain%3F%3C%2Fh3%3E%0APrive+blockchains%2C+conversely%2C+are+%27permissioned%27+-+meaning+that+new+users+cannot+automatically+join+a+network+as+either+a+participant+or+a+validator+unless+invited+by+a+network+administrator.+Such+networks+are+usually+employed+by+enterprises+seeking+to+incorporate+blockchain+technology+into+their+accounting+or+auditing+practices+without+broadcasting+sensitive+financial+data+to+the+public.%0A%3Ch3%3ECan+a+blockchain+only+be+used+to+track+funds%3F%3C%2Fh3%3E%0AWhile+blockchain+technology+may+have+a+natural+utility+to+manage+a+new+form+of+digital+currency+such+as+Bitcoin%2C+blockchains+needn%27t+be+restricted+to+managing+the+exchange+of+currency+in+itself.%0A%0ABlockchain+technology%2C+as+a+distributed+digital+ledger%2C+are+capable+of+managing+the+transfer+of+assets.+Beyond+managing+a+currency%2C+this+can+naturally+extend+to+include+physical+and+digital+properties+-+blockchain+technology+could+enable+users+around+the+world+to+lodge+their+ownership+of+items+such+as+real+estate%2C+digital+media%2C+or+even+materials+in+a+supply+chain.%0A%0AIn+some+cases%2C+blockchain+technology+has+found+a+home+in+tallying+governmental+elections%2C+managing+social+networks%2C+or+managing+distributed+data+storage+or+computer+processing+networks.","timeout":15}