Answer to 4 questions from followers❤️🔥👇
2024-7-10
#What is blockchain?
#Blockchain
Blockchain is a distributed ledger technology that allows transactions to be recorded in a secure, transparent, and decentralized manner. It can be described as a series of blocks connected to each other, where each block contains a set of transactions. Each transaction is recorded in a new block, after which a copy of the updated ledger is distributed to all nodes in the network. These nodes validate transactions using cryptographic and consensus techniques.
#What is encryption?
#Encryption
Encryption is the process of converting information from a readable form into an encrypted form using mathematical algorithms, so that it can only be read by those who have the appropriate decryption key. The main goal of encryption is to protect information from unauthorized access and ensure data confidentiality.
There are two main types of encryption:
1. Symmetric Encryption: The same key is used to encrypt and decrypt data.
2. Asymmetric Encryption: It uses a pair of keys (public key and private key).
#What are smart contracts?
#SmartContracts
Smart Contracts are self-executing contracts whose terms are automatically executed by code on the blockchain. The terms of the contract are written in code, and the contract is automatically executed when these conditions are met without the need for an intermediary.
#What is a supply chain?
#SupplyChain
The supply chain is the integrated system that includes all activities and stages that products and services pass through from the point of production to the final consumer. The supply chain includes a set of steps including manufacturing, transportation, warehousing, and distribution.
# Supply chain components:
1. Suppliers: They provide raw materials and basic parts.
2. Manufacturers: They transform raw materials into finished products.
3. Distribution centers and warehouses: Store products and manage inventory.
4. Transportation and shipping: includes the transfer of materials and products between different parties.
5. Distributors and Resellers: They deal with the distribution and marketing of products to end consumers.
6. End consumers: Buyers who use the product or service.
# Objectives of supply chain management:
- Increase efficiency
- Improve quality
- Enhance flexibility
- Increase transparency
- Reducing risks
Technical applications such as blockchain in the supply chain can enhance transparency and security, as they allow products to be tracked at every stage of the chain and ensure the validity and accuracy of information.
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