In technical terms, the blockchain is an incorruptible
digital ledger of economic transactions that can be programmed to record not
just financial transactions but virtually everything of value.
So basically, blockchain is a public
register in which transactions between two users belonging to the same network
are stored in a secure, verifiable and permanent way. The data which are relating
to the exchanges are saved inside cryptographic blocks and connected in a
hierarchical manner to each other. This creates an endless chain of data blocks
on that basis the name blockchain is created that allows you to trace and
verify all the transactions whatever you have ever made.
At first, blockchains were only commonly held by digital
currency like cryptocurrency particular. But in these days, blockchain
applications are usually analyze in many industries as a secure and profitable way
to create and manage a distributed database and preserve records for digital
transactions of all types.
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| Block chain |
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