What is Blockchain?

Discussion RoomCategory: Interview QuestionWhat is Blockchain?
Mohan asked 6 years ago

What is Blockchain?
Blockchain is a hot technology. It is a one of the leading software platforms for digital assets. Blockchain is a public ledger and decentralized that uses an open, distributed record to keep track of all transactions. It provides a transparent and secure means for tracking the ownership and transfer of assets.
When new various transactions are made, blocks of transactions are added to the sequential blockchain. Constantly developing as ‘finished’ blocks (the maximum recent transactions) are recorded and delivered to it in chronological order, it permits marketplace participants to preserve tune of virtual foreign money transactions without crucial recordkeeping. Each node (a computer linked to the community) gets a replica of the blockchain, which is downloaded automatically.
Blockchains can save many different styles of information:the details of cryptocurrency transactions, the contents of a land check in, insurance data, health records, modifications of possession, etc. They can also serve as a platform for different applications.
“A blockchain is a tool for creating digital ledgers and then sharing those ledgers among a group of computers. Your probable maximum acquainted with blockchain in the context of Bitcoin, and which can serve as a high instance of how the blockchain may be used.”
“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”-Don & Alex Tapscott, authors Blockchain Revolution (2016).

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