Blockchain technology explained

A blockchain is a set of protocols and cryptographic methods that enable a network of computers to work together to securely record data within a shared open database.

A blockchain is a set of protocols and cryptographic methods that enable a network of computers to work together to securely record data within a shared open database.

This database consists of a series of encrypted blocks which contains the data. The blockchain is a continuously growing list of these blocks of data which are linked and secured using cryptography. This makes it a trusted database with this trust maintained by open secure computer code and encryption instead of any single institution.

Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree). The timestamp proves that the transaction data existed when the block was published in order to get into its hash.

More Information

Share your love
Gabby
Gabby

Inspiring readers to embrace the possibilities of the future while critically examining the impact of our present choices.

Newsletter Updates

Enter your email address below and subscribe to our newsletter