What Is a Blockchain and How Does It Work? Definition & Applications


A digital image of many floating cubes connected by lines with text overlay that reads "What Is a Blockchain?"

Blockchains are general public-dealing with and unalterable, so they are a way to facilitate and retailer digital transactions. 

What Is a Blockchain in Easy Phrases?

A blockchain, at its most simple amount, is a electronic ledger of transactions saved on several different pcs (referred to as nodes) that are connected by a network. It is composed of a sequence of “blocks,” which are essentially electronic baskets that can be crammed with records of transactions. At the time the transactions in a block are verified via a consensus in between nodes in the network, that block is “closed” and added to the present, unalterable, chronological chain of earlier blocks.



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