What is Blockchain? • What You Need to Know • Benzinga
The blockchain is easier to understand than you may think. Understanding its implications to commerce and technology takes a bit more time.
Source: benzinga.com
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What is Blockchain? • What You Need to Know • Benzinga
Blockchain is an umbrella term for a variety of technologies. The first important concept to understand is the idea of a distributed ledger. A ledger is a database of transactions and “distributed” means that it’s not stored in one place. There are multiple identical copies stored in “nodes” all across the world. Each time 1 node updates, it must communicate with all the other nodes to update their copies as well. The 2nd important concept, and what makes distributed ledgers more interesting, is the idea of distributed or “decentralized” control. Decentralized control means th...
Source: benzinga.com