{"id":657,"date":"2022-03-31T09:50:50","date_gmt":"2022-03-31T09:50:50","guid":{"rendered":"https:\/\/wellai.health\/blog\/?p=657"},"modified":"2022-03-31T09:50:50","modified_gmt":"2022-03-31T09:50:50","slug":"blockchain-101-a-blockchain-is-like-a-beautiful-one-of-a-kind-salad","status":"publish","type":"post","link":"https:\/\/wellai.health\/blog\/blockchain-101-a-blockchain-is-like-a-beautiful-one-of-a-kind-salad\/","title":{"rendered":"Blockchain 101: A Blockchain Is Like A Beautiful One-of-a-Kind Salad"},"content":{"rendered":"<p>At WellAI, we are fortunate to have some of the original blockchain mathematicians.\u00a0 That\u2019s something we are very proud of.<\/p>\n<p>&nbsp;<\/p>\n<p>We spend a lot of time on decentralization and data privacy, where blockchain is the key concept.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>So what is blockchain?<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><strong>In our ongoing educational series, Daniel Satchkov, head of machine learning at WellAI, explains why blockchain is like a beautiful uniquely chopped salad.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/youtu.be\/HVs8yiXdiwQ\">https:\/\/youtu.be\/HVs8yiXdiwQ<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>A blockchain is a chain of blocks, or pieces of data, uniquely \u201csealed off\u201d so it\u2019s impossible to replicate.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Satoshi Nakamoto applied Number Theory \u2013 which was considered a \u201cuseless concept\u201d by many \u2013 to create the idea of blockchain.\u00a0 <\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>The mathematical genius was to use the Number Theory to solve the \u201cdouble spending\u201d problem \u2013 the problem that, for example, traditional banking is exposed to.\u00a0 You can\u2019t spend the same money twice.\u00a0 It is also known as the Byzantine Generals problem.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Number Theory turned out to be the key to offering privacy and freedom in technology.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>Hash function (or \u2018<strong>hash<\/strong>\u2019) is critical to the encryption of the block and to solving the double spending problem.\u00a0 Hash is like a process of chopping up a mixed salad \u2013 which seems like a rough and non-creative action \u2013 but it results in a beautiful and delicious creation.\u00a0 That\u2019s what hash is in the blockchain.<\/p>\n<p>&nbsp;<\/p>\n<p>There are certain rules in blockchain, also known as \u2018<strong>Proof of Work<\/strong>\u2019.\u00a0 What it means is that the salad has to be \u201cjust right\u201d.\u00a0 We cannot redo the salad once the salad is served.\u00a0 In other words, once the block is \u201csealed off\u201d, we cannot create another blockchain and replace the one we \u201cdon\u2019t like\u201d.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Decentralization is vital for humans, in particular for providing data privacy in healthcare and other industries.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>WellAI Team<\/p>\n<p><a href=\"https:\/\/wellai.health\/\">wellai.health<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>At WellAI, we are fortunate to have some of the original blockchain mathematicians.\u00a0 That\u2019s something we are very proud of.<\/p>\n","protected":false},"author":3,"featured_media":658,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":[],"categories":[184,168],"tags":[233,211,242,213,243,245,248,246,230,231,247,244,192],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/wellai.health\/blog\/wp-content\/uploads\/2022\/03\/A-Blockchain-Is-Like-A-Beautiful-One-of-a-Kind-Salad-e1648720107222.jpg?fit=698%2C400&ssl=1","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/wellai.health\/blog\/wp-json\/wp\/v2\/posts\/657"}],"collection":[{"href":"https:\/\/wellai.health\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wellai.health\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wellai.health\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/wellai.health\/blog\/wp-json\/wp\/v2\/comments?post=657"}],"version-history":[{"count":1,"href":"https:\/\/wellai.health\/blog\/wp-json\/wp\/v2\/posts\/657\/revisions"}],"predecessor-version":[{"id":659,"href":"https:\/\/wellai.health\/blog\/wp-json\/wp\/v2\/posts\/657\/revisions\/659"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wellai.health\/blog\/wp-json\/wp\/v2\/media\/658"}],"wp:attachment":[{"href":"https:\/\/wellai.health\/blog\/wp-json\/wp\/v2\/media?parent=657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wellai.health\/blog\/wp-json\/wp\/v2\/categories?post=657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wellai.health\/blog\/wp-json\/wp\/v2\/tags?post=657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}