What is a Blockchain?
Essentially, blockchain is a way to verify trust and transfer value without the need for a third-party intermediary. Transacting of information, currency, goods, or assets can be conducted securely and efficiently with Blockchain.
Basically, its a decentralized, distributed ledger of transactions. Blockchain technology creates a digital ledger of transactions that are not controlled by a single entity. Blockchain encrypts transactions and distributes them over the network, making it virtually impossible to hack.
Blockchain creates a highly secure digital system that enables the exchange of information, transactions, and agreements without any central authority in charge.
Additionally, blockchain technology is exciting because it can be used for a wide range of purposes, beyond cryptocurrency. Blockchains are being used to explore medical research, improve the accuracy of healthcare data, streamline supply chains, as well as a variety of other applications.
How Blockchain Works