A person that follows things like investments, banking or cryptocurrency since the past ten years must be familiar with the term “blockchain’’, the technology that keeps a record for bitcoin. There is a sweet chance that is able to much so much sense. With the desire to learn more about blockchain, there are different definitions that you might see such as; “blockchain is a distributed, decentralized, public ledger.” At its most basic level, blockchain is literally just a chain of blocks, but not in the traditional sense of those words. When we say the words “block” and “chain” in this context, we are actually talking about digital information (the “block”) stored in a public database (the “chain”).
The block present on the blockchain consist of pieces of information that are digital. Being specific they are made of three portions.
The first that blocks save all information about the transactions made such as the date, the time, dollars amount etc.
The second that blocks also save information about who is the individual that is participating in the transactions.
As an example, using a block for your purchase from Amazon would definitely record your name along with Amazon.com, Inc. Instead of going with your real name, the purchase is recorded without any information to identify by using a signature which is digital, such as a username would be.
The third would be that blocks store save all the information that separates them from other blocks. Just like we use names to separate our identities, blocks go by the name of “hash” so they can be their own individual identities. imagine you made your purchase on Amazon and while it’s still in transit you decide you need another one so even if the details look similar to the last purchase the clocks are different because of the codes
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