What is blockchain

A blockchain is a digitally distributed, decentralized, public ledger that exists across a network. It is most noteworthy in its use with cryptocurrencies ...Distributed Ledger Technology · Bitcoin · Non-Fungible Token (NFT) · Hash

What is a blockchain in simple words?

Blockchain defined: Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding).

What is blockchain and how does it work?

A blockchain is a decentralized, distributed and public digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network.

What is the main purpose of blockchain?

The purpose of the blockchain is to share information amongst all parties that access it via an application. Access to this ledger in terms of reading and writing may be unrestricted ('permissionless'), or restricted ('permissioned').

What is blockchain example?

Blockchain technology enables a decentralized peer-to-peer network for organizations or apps like Airbnb and Uber. It allows people to pay for things like toll fees, parking, etc. Blockchain technology can be used as a secure platform for the healthcare industry for the purposes of storing sensitive patient data.