Most simply defined as a decentralized, distributed ledger that records the provenance of a digital asset.
The data on a blockchain is immutable by design, making it a legitimate disruptor in industries such as payments, cybersecurity, and healthcare.
Our expert will explain what it is, how it is used in blockchain
Blockchain, also known as Distributed Ledger Technology, uses for decentralization and cryptographic hashing to make the history of a digital asset unalterable and transparent.
A simple analogy for understanding blockchain technology is a Google Doc.
To create a document and share it with a group of people, the document is distributed instead of copied or transferred.
This creates a decentralized distribution chain that gives everyone access to the document at the same time.
The locked out awaiting changes in another party, while all modifications in the doc are being recorded in real-time, making changes completely transparent.
Blockchain more complicated than a Google Doc, but the analogy is apt because it’s illustrates critical ideas of the technology.
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