What Is blockchain technology?
What makes up a blockchain?

Halo my fellow kiddies,
I was verified just the other day and I am just grateful to be here. I also would like to express my appreciation to @benton3 for giving us such a wonderful lesson about the blockchain technology. I would like to try the homework.

What is Blockchain Technology?

First of all, as our teacher explained in the lesson, blockchain technology is a system of storing information (he referred to this information as toys), using blocks that are interconnected by hash (also called these ropes). After being verified on the blockchain each block gets a unique hash that makes it different from other blocks.
However, each block has got two hashes because every new one generated must contain the hash of the previous block.

Source

The information kept on these blocks is very difficult to hack or change and is distributed across the entire network of computers that are on the blockchain.
The information kept on the blockchain is usually public and people can directly engage each other without needing another person to act as a go between. I think that this has advantages such as;

• Reducing transaction fees
• Independent decisions
• Eliminating theft or scam
• An open environment of trading or interaction
• Does not need trust for interaction
• More accurate data processing

However, the blockchain can also have disadvantages such as;

• Information cannot be changed in case of need for deletion, as it can only be edited.
• Sometimes hackers get into the blockchain
• I think such technology uses a lot of energy to store such huge sums of data and perform transactions.

What makes up a blockchain?

The blockchain is made up of the following;

The block
This stores all the information or data kept on the blockchain just as our teacher explained.

Got it here

After it is opened (mined), data can be put on it and sealed (verified) so that another block can be opened too.

Got it here

As they continue being mined, they form a rope that is held together by chains.

Data
This is the information stored on the block and it is public but to access it, one needs to have permission (keys) to be able to transact.

Hash
This is the connecting link (rope) that holds the ropes, one to another and makes them stay together as one blockchain. None of the blocks have the same hash but all have the hash of the block before it. Each hash is unique and different therefore there can never be the same hash on the Blockchain.

All the above make up a blockchain that is a system that stores data. I am grateful to you teacher for the lesson, and I understood a lot because of the simple illustrations you used to teach us such as the box, toys and rope. Thank you.

See you all soon.