What is Blockchain, and how does it work?

What is Blockchain, and how does it work?

 

In relation to crypto trading and technology, blockchain is the technology that underpins digital currency. An example of digital currencies is ‘bitcoin’.  In blockchain technology, each individual piece of data can only have one owner because the blockchain technology allows digital info to be distributed but not copied.

 

HOW DOES THE BLOCKCHAIN WORK?

Blockchain consists of multiple blocks that are together;  when a block stores new data, it is added to the blockchain. In order for a block to be added to a blockchain, a transaction must occur; the transaction must be verified; the transaction must be stored in a block; and, the block must be given a hash.

 

 

Stay clue to this platform to learn more about Blockchain and the crypto world .

 

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