Just to save you some time – read the article if you would like answers to the below questions 😊
- What is Blockchain?
- What is Blockchain a solution to?
- Different types of Blockchain
- Why is Blockchain secure?
- How does blocks get built in a ‘Block-chain’?
What is Blockchain
In physical terms – Blockchain is essentially a network of computers. Each computer in the network accepts, confirms and stores transactions in a synchronized chain of confirmed transaction blocks. Each block applies cryptographic proofs and hashes – thus making the blocks / transactions in the blockchain / network immutable.
What is Blockchain a solution to?
Blockchain allows for all parties involved to agree on the current state of something of value without any possibilities for dispute.
Blockchain caters to the above need perfectly because: –
- It is immutable – Transactions; remain on the blockchain; it is not…
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