Blockchain Technology

  Blockchain Technology  Definition A blockchain is “a distributed database that maintains a continuously growing list of ordered records, called blocks.” These blocks “are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. A blockchain is a decentralized, distributed and public digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network. ...

  What Is Blockchain Technology and How Does It Work? Blockchain is one of today’s buzz terms circulating in word-of-mouth and the news headlines because of reconfiguring the old financial technology called the ledger, i.e., distributed database. But a prominent question is likely to appear here! What is blockchain technology exactly and how does this revolutionary technology work? Discover the answers right in this blog!   What Is Blockchain Technology?  Blockchain technology is typically a shared digital ledger that enables tracking various tangible or intangible assets, like goods and services, smart contracts, etc. They are known for their active usage in cryptocurrency systems to secure and decentralize records of transactions. However, blockchain technology serves way beyond, or precisely, to make data in any ...

  Introduction to Blockchain Technology Line up to meet the latest center court champion, Blockchain. Of course, blockchain won’t actually be making an appearance at Wimbledon this year but as a metaphor it’s quite fitting with people placing bets on both. A blockchain is a tamper-proof, shared digital ledger which records transactions in either a public or private network. As it’s distributed to all participants in the network, the ledger makes a permanent record as blocks. Every block that is confirmed and validated are linked and chained from the beginning of the chain to the latest block – giving it the name blockchain . Each computer on the network is known as a “node”. How does a blockchain network work? Instead of relying on a third party, such as a financial institution, to mediate transactions, participants in a blockchain network use a consensus protocol to agree on ledger content, and cryptographic hashes and digital signatures to ensure the integrity of...