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The Blockchain – A Look At How It Works and Why We Need It
Hacker Noon June 24, 2022
In the past few years, the term blockchain has gotten a lot of attention from major media outlets and the public. It’s a fairly new technology that has proven to benefit many companies in different industries. It is relatively easy to understand, although it can seem difficult for beginners. This article will explain how it works and why it’s so revolutionary.
What is Blockchain?
Blockchain is a decentralized and public information database. It’s the technology that powers cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Simply put, a blockchain is a database with additional functionalities.
It is not really a database, but rather a ledger. A ledger is a record that contains transaction details such as who sent who, how much,...
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