What Is Blockchain?

What Is Blockchain?

What Is Blockchain?

Blockchain is a distributed data store. Anyone who participates in this network has their own data store that stores all of the transactions that ever happened on the network . This is also known as the distributed ledger.

Entries are stored within a cryptographic chain of blocks. At every stage, the network of participants must agree about the latest block of transactions. Agreement is reached through a process of majority consensus, eliminating duplicate entries, double spending etc.

This process and the cryptographic layering of the blocks makes the agreed blockchain irreversible and immutable. The ‘history’ of events within this technology cannot be modified by any one of the participants without majority consensus from the group.

Source: https://www.blockchain-council.org/blockchain/blockchain-frequently-asked-questions/