Blockchain technology has become very popular in recent years. It has been a decade since he was with us and with the rise of cryptocurrencies his name has begun to become increasingly known. However, many people do not have a clear idea of what this technology is.
A chain of blocks or BC -blockchain- is a database distributed and linked in chains in which, as if it were a book ledger, a detailed record of all the operations carried out in it is kept. All this information is stored in linked data blocks as a string that is encrypted cryptographically so that they cannot be modified or altered in the future in any way.
The blockchain technology works like a huge accounting book, similar to Excel, which allows us to store data, transmit it and confirm it. These are the fundamentals that allow us to store, receive, send and mine cryptocurrencies. The concept of blockchain was mentioned for the first time in 2009 when bitcoin was defined as a currency of a chain of blocks. Since then his model has been copied and tried to improve giving birth to different cryptocurrencies.
The most remarkable thing about the blockchain technology is its security, since the data is stored in several computers, which would make it impossible to modify all the backup copies of the network to its own benefit. The blocks are ordered in chronological order and each has a hash (numerical password) from the previous block, which makes it impossible for a block with a failed hash to be introduced in the chain and replicated by the nods or other computers in the network.
Read more at: http://www.crypto-economy.net/everything-need-know-blockchain-technology/?lang=en