What is blockchain? How does blockchain work?

Image collect Pixabay

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Blockchain may seem to many to be a chain of blocks blocked by Chain, but in fact it is somewhat like that. Blockchain is the transfer of various data from one place to another. Data and data is where the concept comes first, which is hash. Blockchain systems are being used in various sectors such as cryptocurrency, bitcoin, ethereum, supply chain management, healthcare, and many more.

Image collect Pixabay

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Blockchain security

Each block in the blockchain is cryptographically protected so that no one can easily change the information at will. Most blockchain network transactions are open, which ensures transparency.

Image collect Pixabay

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How Blockchain Works

Blockchain basically creates a P2P network where the data of each block of the blockchain can be verified by anyone connected to the internet. This technology works through a multistep process. An authorization participant inputs a transaction, which must be authenticated by the technology. This process creates a block that represents specific transactions and data and the update is distributed across the network which finalizes the transaction.