Block chain technology
BLOCK CHAIN TECHNOLOGY TRAINING AND CERFICATION
- Vismaya p
- 26 September 2019
A blockchain is, an immutable time-stamped series record of data that is distributed and managed by cluster of computers. An open blockchain network has no central authority - it is the very definition of a democratized system. Since it is a shared and immutable ledger, the information in it is open for anyone and everyone to see. Initially, used for Bitcoin and other cryptocurrencies blockchain has now found use cases in several industries including finance, real estate, and health.
A block in a blockchain is a collection of data. The data is added to the block in blockchain, by connecting it with other blocks in chronological others creating a chain of blocks linked together. The first block in the Blockchain is called Genesis Block
If this technology is so complex, why call it blockchain At its most basic level, blockchain is literally just a chain of blocks, but not in the traditional sense of those words. When we say the words block and chain in this context, we are actually talking about digital information (the "block") stored in a public database
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