Blockchain is a powerful technology that has the potential to change how we manage our finances. It’s also being used by many other industries, including healthcare and supply chain management. In this article, we explored what exactly a Blockchain is and how it works.
It’s A Public Ledger
The Blockchain is a public ledger. That means that anyone can see all of the transactions that have ever taken place on the network, but they can’t see who made those transactions or how much money was involved in each one.
This allows people to trade with each other without having to worry about someone stealing their identity or credit card numbers to make purchases with them later on down the road (or even right away).
One of the fundamental concepts underlying blockchain technology is decentralization. In short, it means that there is not one central database or server for all transactions on the Blockchain to be stored in. Instead, each transaction is recorded on a network of computers and then verified by other computers before being added to the chain as an unchangeable block of data.
This makes it harder for hackers to tamper with records because they would need access to every computer across multiple locations at once (which doesn’t exist).
It’s Protected By Cryptography
Blockchain is protected by cryptography. Cryptography is a type of math used to secure data, and it’s used to make sure that the data is not changed and is only readable by certain people.
In this case, Blockchain uses cryptography to ensure that transactions are recorded accurately on the ledger without being tampered with or duplicated. This process creates an immutable record of transactions across all computers participating in the network: no one can change their history once they’ve been included in a block; it would be like trying to erase an entry multiple times–it just won’t work!
Blockchain Technology For Various Applications
Today, many companies are using blockchain technology for various applications. The Blockchain is a new way to store information that’s decentralized and distributed across many computers. It’s also secure and transparent as it can be used to track the movement of goods or money through different people or companies.
Blockchain was originally developed as part of Bitcoin (a cryptocurrency) but has since been adopted by other industries such as healthcare, finance, and real estate because of its ability to keep records secure from hackers while making them publicly available at any time–and all this without having an intermediary like a bank or government agency overseeing the process!