What Now: Blockchain and How it Works?
What is a Blockchain? To put it simply, blockchain is a technology that is used to store information about transactions and process them in a decentralized manner. As a result, individuals can conduct business with one another without the need for a third party. Blockchain is nothing more than a growing chain of blocks (records) containing information about web transactions. Every record (block) contains data in the form of coding that is organized chronologically. A blockchain is essentially a digital ledger (database) of transactions that are duplicated and distributed throughout the blockchain's entire network of computer systems. Each block in the chain contains a number of transactions, and whenever a new transaction occurs on the blockchain, a record of that transaction is added to the ledger of every participant. The blockchain's primary goal is to enable peer-to-peer transactions that are fast, secure, and transparent. It is a secure, decentralized network that enables t…
