Understanding the Fundamentals of Blockchain Technolog
Blockchain is challenging to understand, but its fundamentals are easy to understand. Blockchain is a separate way of maintaining records that makes sure everything is safe, open, and easy. What is blockchain technology? Blockchain is a digital record or shared database that keeps track of things on many computers in a format that is safe, clear, and inflexible. The word "blockchain" comes from the "blocks" that are used to store data. To keep track of transactions, each block provides a timestamp and a link to the block before it. The chain connecting these blocks creates an unchangeable permanent record of all network activities. Features of Blockchain Technology What makes blockchain technology so special and useful? Here are some of the most important features. 1. Loss of control Blockchain works on a distributed structure of computers, or nodes. This contrasts with traditional centralized structures, where a single authority such as a bank, government, or comp...