What Is Blockchain ?

What Is Blockchain ?. Blockchain – A system of distributed data and logic..

Blockchain Technology Introduction. Blockchain technology was first introduced by Satoshi Nakamoto in 2008 and was implemented in 2009. It’s very first implementation was in the cryptocurrency Bitcoin . The success of Blockchain has moved the technology to a very wide range which ultimately provided a huge amount of support to the organization’s but on the other hand, Every technology has pros, Blockchain has its cons too..

The Blockchain technology created the backbone of new type of internet by allowing digital information to be distributed securely. It means, the blockchain database is not stored in any single location but it is stored in all the nodes connected to the network. Let’s take an example of google doc or shared spreadsheet. It is duplicated thousands of times across a network and this network is designed to regularly update this documents to keep the consistency of that document for all the users. As the blockchain has no centralized database means records are truly public and easily verifiable. This verified data is hosted by millions of computers instead of a single system so, there is no single version is available for a hackers to corrupt..

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