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Introduction to Blockchain Technology

A blockchain is a database distributed between nodes of a computer network. As a database, blockchain stores information in a digital format. Blockchain keeps a secure and decentralized record of data.

Blockchain-based datas are secure and reliable, this technology has proven to be a suitable and reliable technology for cryptocurrencies such as Bitcoin. Blockchain technology guarantees the accuracy and security of data.

One of the main differences between a typical database and a blockchain is the way the data is stored. Blockchain collects information in groups, called “blocks”. Blocks have fixed storage capacities and when the capacity is exhausted the block is closed and connected to the previously closed block, forming a chain of data known as “Blockchain”. The initial data of the newly added block is the last data of the previous block. In this way, the process of becoming a chain of blocks continues.

Databases typically make their data into a long-stacked format while blockchain, as its name implies, breaks data into pieces (blocks) that are connected in a chain. Each block in the chain is given an equal timestamp. That is, each block stores equal time and amounts of data.

All kinds of information can be stored in blockchain but now this system is being used for transaction information in general. Decentralized blockchains are immutable. It contains a permanent record of transactions that can be viewed by all.

Blockchain’s goal is to record and distribute digital information, but its data cannot be edited. So a permanent record of blockchain data that cannot be changed or deleted. This is why blockchain is also known as Distributed Laser Technology (DLT).

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