Blockchain is the most sought after topic in the tech world. But how did it all start? Well, the popularity of the cryptocurrency put the spotlight on the Blockchain technology. Nearly, everyone’s heard the word ‘Blockchain’ but very few know the fundamental technology behind them. It is not very easy to understand this technology; there are various videos and tutorials that you might find online but you will find it in bits and pieces. Here, let’s take a step-by-step look at how the Blockchain works and its different terms and technologies.
Basics of Blockchain
A Blockchain is like a diary of codes that cannot be forged. It allows transactions, mostly monetarily (for now), to be exchanged without a central authority or a third party vendor. It is an immutable, sequential chain of records called blocks which contain transactions, files or any other data.