Blockchain

What is a Blockchain?

Blockchain is an immutable time-stamped series of data or a data structure that holds transactional records that is distributed and managed by a cluster of computers while ensuring security, transparency and decentralization. These can also be defined as chains of records stored in blocks which are controlled by no single authority.

Who controls a Blockchain?

An open Blockchain has no central authority and is not controlled by anyone. It is a democratized system and the information stored is open for everyone and anyone to see.

How does a Blockchain work?

Block chain literary works as a chain of blocks that contain important transactional data held together in a specific order. The data stored in these blocks contain information about the transaction like date, time, amount, who is participating, and a unique information of that block that differentiates it from others called hash. Blockchain can be used by companies to make any transactions.