Data Science

Data science is one of the emerging field in technology, we saw many people around us talking about it but many of us don't have any proper knowledge about it. The most basic and important question is what actually data science is? Data science is simply the process in which we collect facts, figures, and statistics and then use different procedures and visualization techniques on that data to extract meaningful insights which further help in different ways like the insights can help an organization to expand their business and make business strategies as required.

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There are a lot of examples that we can relate to our day-to-day lives where data science came into play, we all use the internet to search for different things and almost all of the search engines use data science algorithms to provide better search results to their users secondly, almost all of us use different shopping sites like amazon which use recommendation systems to provide customized results to its users like if we search for a particular item we can always see the option of  "recommendations for you" which contain similar items to that of the product we viewed recently such kind of systems use user's past activity and data and provide personalized results based on that insights, target advertising also works on this principle. Even the healthcare sector is using the advancement of data science to predict several tumors which is also one of the application of data science.

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The field of data science is so vast and diverse and one can find a lot of things from a simple visualization task. People are finding this field as the future of technology and that is the reason why so many people are finding it interesting. It's the new technology for forecast and trends which attracts a large number of people and businesses to grow with it. It helps a lot of industries and organizations to develop different insights which can be very useful for them.

One can choose data science as their career also if they are interested in managing data and drawing insights from it. One can work as a data scientist, analyst, data engineer, and many more as they like. The jobs in this field are also on the boom and even the salaries provided by many companies are also good.

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Data science is the booming technology that is bringing different changes in the field of technology and in this century of advancement almost every one of us is using this in different ways either to grow our businesses or to draw insights from the data which can be helpful in different manners. Recent years have witnessed a boom in the field of data science as a result of it the things which were not possible earlier are now possible with the help of data science.

Blockchain

Blockchain is the new technology slang nowadays. Are you wondering what blockchain technology is? Let's find the answer. Blockchain is a type of database. It stores the data in block form and these blocks are joined via chains. A popular example of blockchain is bitcoin. Simple right?

Let's explore more.

So how blockchain is made? A new block is created whenever there is new data and then that block is attached to the chain. There is no single person and organization which is controlling it, the blockchain is managed by multiple users. 

Structure of block

In blockchain, the first block is known as the genesis block. Each block contains the data, hash of the current block, and the hash of the previous block. The data depends on the type of blockchain. Hash is a unique identification key If we change something inside the block then the hash is also changed. You might be thinking if the hash of the current block is changed then its next blocks will be invalid because the hash of the previous block will be invalid? In order to resolve this, we have something called proof of work.

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Proof of work 

In proof of work, the creation of blocks is slowed down. Hash of all blocks in recalculated. If anyone tampers with one block then he/she has to recalculate the hash (proof of work) for every block.

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Acceptance Criteria 

Blockchain is shared in the distributed network which means it is shared between multiple users. It is distributed in a P2P network. Everyone is allowed to join and everyone gets a copy of the blockchain. Whenever a new block is inserted in the blockchain then everyone verifies if everything is correct or not. If everyone agrees, then the blockchain is accepted.

Pros and Cons

The main advantage of blockchain is it's decentralized which means it is shared with multiple users. Blockchain is one of the most secure networks. It needs a consensus before it gets verified. But there are disadvantages too, in some scenarios blockchain consumes a lot of energy, a user needs proper knowledge to understand its working and the data is not mutable which means a user cannot modify the data once it's inserted into the block.

Blockchain is a new thing for many people. Many of us are still learning about it. But the zeal of people may result in new advancements in blockchain in the future.