Altcoins Talks - Cryptocurrency Forum
Further Discussions => Blockchain Technology => Topic started by: Alex Jaxon on August 07, 2021, 01:58:36 PM
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What is Blockchain?
Blockchain is a system of storing information in a way that makes it difficult or impossible to change the data, hack, or cheat the system.
A blockchain is necessarily a digital ledger of transactions that is distributed beyond the entire network of computer systems on the blockchain. You can consider a Rubix Cube Each Block in the chain contains a multiple number of transactions. The transactions occur on the blockchain every time. All the transactions are stored in the distributed Ledger.
Why is there so much hype around blockchain technology?
Trustworthy
If someone creates a new asset called the Y dollar, how can we trust that they won't give themselves a million Y dollars, or steal your Y dollars for themselves?
The solution is there in Blockchain. Cryptocurrency (Bitcoin) was designed by using a specific type of database called blockchain. Most common databases such as an SQL, have someone in charge who can change the entire values. Blockchain is working differently because nobody can take charge. Assets cannot be faked and hacked.
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