Blockchain

What is Blockchain ? Blockchain is a cryptographically secured, time-stamped, public and distributed data of every transaction that has ever occurred on the network. So this means that the information in the blockchain is broadcast and recorded by each and every node in the network. There is no one central database. Users can refer to the list of transactions and check exactly how many bitcoins have ever belonged to any specific address at any point of the time. By this kind of way the system is transparent, double in the spend which is prevented, and there is no need for a trusted authorities. The blockchain is supported by miners the computer workers who put computing power in the task of solving a mathematical problem that will convert or reward them with bitcoins, while at the same time producing the security of the blocks of the data in the chain. How Blockchain Works A transaction must occur. Let’s have the exa...