Block Chain Concept

Blockchain Tutorial

Blockchain Tutorial provides basic and advanced concepts of blockchain. Blockchain is a constantly growing ledger that keeps a permanent record of all the transactions that have taken place in a secure, chronological, and immutable way. It can be used for the secure transfer of money, property, contracts, etc. without requiring a third-party intermediary such as bank or government. Blockchain is a software protocol, but it could not be run without the Internet (like SMTP is for email).

What is Blockchain?

A blockchain is a constantly growing ledger which keeps a permanent record of all the transactions that have taken place in a secure, chronological, and immutable way.
Let's breakdown the definition,
edger: It is a file that is constantly growing.

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• Permanent: It means once the transaction goes inside a blockchain, you can put up it permanently in the ledger.
• Secure: Blockchain placed information in a secure way. It uses very advanced cryptography to make sure that the information is locked inside the blockchain.
• Chronological: Chronological means every transaction happens after the previous one.
• Immutable: It means as you build all the transaction onto the blockchain, this ledger can never be changed.

A blockchain is a chain of blocks which contain information. Each block records all of the recent transactions, and once completed goes into the blockchain as a permanent database. Each time a block gets completed, a new block is generated.