What is Blockchain Technology?
If you know about cryptocurrency, you might definitely have heard about blockchain technology. This is because blockchain technology plays an important role in the secure operation of digital currencies. Blockchain technology has been used in cryptocurrency for over a decade now, and other industries also started using this technology. This shows that blockchain is such an advanced and powerful technology that we all need to understand. Read on to understand the basics of blockchain technology. What is blockchain in simple terms? In simple words, a blockchain is a shared ledger or database. Pieces of data are added in data structures called blocks, and every node of the network has an exact replica of the whole database. Safety is ensured as if somebody tries to delete or edit an entry in one copy of the ledger, the majority won’t reflect this transformation and it will be rejected. Blockchain technology makes transactions highly safe and secure which is not possible with other tec