BlockChain Technology

All You Need to Know About Blockchains

Blockchain Technology

What is BlockChain Technology& how does It Works ?

Block Chain are incredibly popular nowadays but what is the Block chain and how do they work what problem they do solve and how can they be used ? Like the name indicates a Block chain is chain of block that contains information This technique was originally described in 1991 by a group of researchers and was it originally intended to timestamp digital documents. it's not possible to backdate them or to temper with them. However it went by mostly unused until it was adapted by Satoshi Nakamoto in 2009 to create a digital cryptocurrucy Bitcoin. A Blockchain is distributed Ledger That is completely open to any one they have interesting property once some data has been recorded inside a blockchain it becomes very difficult to change it so how does that work well let's take a closer look at the block image each block contains some data hash the block and the hash of previous block The data that is stored inside a block depends on the type of blockchain Bitcoin blockchain for example stores the details about a transection in here such as the sender reciver and amount of coin A block Also Hash A Hash You can compare a hash to fingerprint

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