Decoding Blockchain Via Cryptoknowmics
Blockchain in simple terms is a chain of blocks. When we say the words “block” and “chain”, we are actually mean about digital information (the “block”) stored in a public database (the “chain”). Each transaction added to a blockchain is verified by various computers on the Internet. These systems, which are configured to monitor specific types of blockchain transactions, form a peer-to-peer network working together to make sure that each transaction is valid before it is added to the blockchain. This decentralized network of computers ensures a single system cannot add invalid blocks to the chain.
If you have been following banking, investing, or cryptocurrency over the last ten years, then blockchain, the record-keeping technology behind bitcoin. Blockchain technology can also be used for non-financial. Many digital signature platforms now use blockchain to record signatures and verify documents have been digitally signed.
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