What is Blockch
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What is Blockchain?
Blockchain is a shared database or ledger across network nodes. A blockchain serves as an electronic database for storing data in digital form. The most well-known use of blockchain technology is for preserving a secure and decentralized record of transactions in cryptocurrency systems like Bitcoin.
The innovation of a blockchain is to foster confidence without the necessity for a reliable third party by ensuring the fidelity and security of a record of data.
A blockchain collects data in groupings called blocks, which individually include data sets.
Blocks have specified storage capabilities. When they’re full, they’re sealed and joined to the previous block to form the blockchain data chain.
Every subsequent piece of information that follows that newly added block is combined into a new block, which is then added to the chain when it is complete.
A blockchain organizes its data into parts (blocks) and kept together. When decentralized, this data structure produces an irreversible data chronology by design.
A completed block, is sealed and placed to the timeline. Finally, each block is assigned an accurate timestamp and added to the chain.
