Assume, you’re sending money to your friend who lives on another side of the world. The barriers which you faced a few years back seems to have been removed by the internet, PayPal and online payment provided by banks. But is it true? In some cases, but the real problem is the transaction fees they charge which is way too much. Another problem is what you’ve transacted is controlled by central servers and has the possibility of getting deleted and you’ll be shown with ‘not found’ error. This article discusses why ‘Not Found’ is not found in blockchain.
Blockchain’s first ever blockchain application is growing bigger each and every year and this tells us many things. One thing which seems obvious is the underlying technology, blockchain which has a wide range of applications and has the potential to transform the way things work now. The concept of decentralization is what people like about the most because their data is not for sale.
Let’s see a basic transaction which happens in the blockchain. Alice wants to send money to Bob. The transaction is represented as a block. The block is broadcasted to all the nodes in the network. The block is added to the chain once the nodes verify the transaction. The money moves from Alice to Bob. The process goes on and on and on. When Alice wants to see the transaction, she can do so. All the blocks are interlinked and secure. Nobody can tamper the data or modify it. Thus 404 not found will not be found in the blockchain.
The chance of data being lost in a blockchain doesn’t happen because all the nodes own data. When a node is not available due to technical issues or offline connectivity, other node serves the data. The entire block is cryptographically secure and hence there’s no chance of data being tampered or altered by anyone in the block. So, technically ‘Not Found’ is not found in a blockchain.
This is useful when we use Blockchain in Governance where all the data can be kept secure and transparent.