What is blockchain technology? How does it work? One article is enough, understand!

One Blockchain Explanation

Blockchain is a distributed (i.e. without a single repository) and decentralized digital ledger with tamper resistance and resilience. At the most basic level, they allow users to record transactions in the shared ledger within the group. The result is that once released under standard blockchain network functionality, no transactions can be modified.

The concept of blockchain was integrated with many other technologies and computer concepts in 2008 to create modern cryptocurrencies: electronic cash protected by encryption processes, rather than central repositories or authoritative institutions.

Blockchain implementation is typically created with specific goals or functionalities in mind. Cryptocurrencies, smart contracts, and enterprise distributed ledger systems are all examples of functionality.

Bitcoin is the first blockchain based cryptocurrency that allows users to publicly share data so that participants can independently verify the validity of transactions. Cryptocurrency is built on top of blockchain technology, which is named after the extensive use of encryption functions.

In order to perform digital signatures and secure transactions within the system, users use…