In this article we will be learning about the concept of blockchain technology and will be trying to go in a little depth to see how the blockchain really works. So I hope this article is worth your time reading.
●What is Blockchain?So as the name suggests the literal meaning of blockchain is just a chain of blocks, but in this context we are actually talking about digital information(block) stored in public database(chain). Blockchain is basically is a growing list of records known as blocks which are linked to each other using cryptography. Each block in the blockchain contains a cryptographic hash of the previous block, a timestamp, and transaction data.
By design, a blockchain is resistant to any modification in its data. As a distributed ledger, a blockchain is typically managed by a peer to peer network collectively adhered to an internal protocol for inter node communication. Once recorded, the data stored in any given block cannot be tampered or altered in any way without actual alteration of all the subsequent blocks.