What is blockchain technology and how does it work?
What does blockchain technology mean? Blockchain technology is a digitally distributed, decentralized, public ledger system that records/stores information in such a way that it is very hard or impossible to change or hack the system after the information is stored. The main purpose of blockchain technology is to allow digital entries or information to be recorded, stored, and distributed but not to be edited. It is a digital ledger of transactions that is distributed across the entire network of systems available on the blockchain. How does blockchain work? A blockchain is a system that collects information together in the form of groups which are known as Blocks, which themselves hold different sets of information. It is a proper system that works in a specific way as these blocks, which collect the information, have their own certain amount of storage capacity and when this storage is filled, it is automatically closed and linked to the previous filled block. In this way...