What is blockchain technology?

Vaibhav Kothia May 29, 2023 0 Comments

Blockchain technology is a decentralized, distributed digital ledger system that records and verifies transactions across a peer-to-peer network. It is an immutable, secure, and transparent record of data that is shared among multiple computers. Each “block” of data is cryptographically linked to the previous block, forming a chain of data that is difficult to modify.

For example, Bitcoin is a digital currency that uses blockchain technology to securely and transparently record all of its transactions. Each transaction is recorded in a block, which is then linked to all of the other blocks in the chain. This distributed ledger system ensures that all records are accurate and up-to-date, and prevents anyone from tampering with the data.

What is the difference between a blockchain and a database?

Vaibhav Kothia May 26, 2023 0 Comments

A blockchain is a distributed digital ledger that records and stores data in a secure and immutable way. Unlike a traditional database, a blockchain is managed by a network of computers, rather than a single entity. This makes it virtually impossible for malicious actors to alter the data stored within it.

A database is a structured collection of data that is organized and stored electronically. It is typically managed by a single entity and can be updated or changed as needed.

For example, a traditional database may be used to store customer information, such as their name, address, and contact information. This data can be updated or changed as needed.

In contrast, a blockchain could be used to store the same customer information, but in a secure and immutable way. This means that the customer information stored within the blockchain cannot be altered or changed without the consensus of the network.

What is a blockchain?

Vaibhav Kothia May 26, 2023 0 Comments

A blockchain is a decentralized, distributed digital ledger that records the history of transactions across a peer-to-peer network. It is made up of blocks that store data in a secure and immutable way. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. For example, the Bitcoin blockchain is a public ledger that records all Bitcoin transactions. It is maintained by a network of computers that must come to a consensus on the order of transactions.