Preliminary Explanation of the System for How the Blockchain Works

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The emergence of this system in the IT world has made internet technology change rapidly. What is the system and work system blockchain that is applied to various industries? Blockchain is a technology that underlies crypto money such as Bitcoin, Litecoin, Ethereum, and the like. This technology greatly allows digital data to be distributed, which means that each piece of information only has one owner.

The blockchain is interpreted as a Digital Ledger stored in a distributed network. As well as many people who still feel difficulty in mastering the system and the blockchain work system.

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Each blockchain node puts a copy of a large novel. The blockchain system does not track account balances at all, it only records each transaction requested, tracking each transaction that is deployed on the network. To identify wallet balances, can be analyzed and verify all transactions that have been established.

All previous transactions are connected to the wallet used to send Bitcoin. To simplify and strengthen the verification process, unused records are placed by Node. With the existence of this verification, it is very unlikely that there will be two identical shipments. Each transaction has different information encryption, this is to reduce transfer errors.