Q. What is Blockchain?
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What is Blockchain?


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Jun, 2018

  • bernardthom

    A blockchain allows a group of individuals to collaborate on creating a shared database and managing its changes and updates. Like Wikipedia, its articles do not originate from a central source. There is no centralized authority over the data. geometry dash


       

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  • nelson

    Blockchain is a decentralized and distributed digital ledger technology that allows multiple parties to maintain a shared record of transactions or information in a secure and transparent manner. It was originally introduced as the underlying technology for the cryptocurrency Bitcoin, but its potential applications extend beyond digital currencies.

    At its core, a blockchain consists of a chain of blocks, where each block contains a list of transactions or data. These blocks are linked together sequentially using cryptographic hashes, forming an immutable and tamper-evident chain.

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  • vishal

    Peer to peer, chain technology, future


       

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  • serban

    From a cruising altitude, a blockchain might not look that different from things you’re familiar with, say Wikipedia.

    With a blockchain, many people can write entries into a record of information, and a community of users can control how the record of information is amended and updated. Likewise, Wikipedia entries are not the product of a single publisher. No one person controls the information.

    Descending to ground level, however, the differences that make blockchain technology unique become more clear. While both run on distributed networks (the internet), Wikipedia is built into the World Wide Web (WWW) using a client-server network model.

    A user (client) with permissions associated with its account is able to change Wikipedia entries stored on a centralized server.

    Whenever a user accesses the Wikipedia page, they will get the updated version of the ‘master copy’ of the Wikipedia entry. Control of the database remains with Wikipedia administrators allowing for access and permissions to be maintained by a central authority.


       

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Asked in Category

Cryptocurrency

Cryptocurrency is a secure, trustful and transparent digital currency which can neither be counterfeited nor be reversed arbitrarily by the sender. It eliminates the necessity of a third party involvement for the exchange, as it is encrypted and peer-to-peer virtual currency. For those who prefer non-disclosure and privacy, cryptocurrency is the solution. The use of this kind of virtual currency prevents any kind of identity theft. The concept of cryptocurrency has given birth to reliable e-cash.

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