Blockchain has become one of the most popular system of recording the important details in a specific way. This is making it little bit impossible or difficult to change, hack or cheat overall system.
Every single block in chain incorporated with variety of transactions & every single new transaction occurs on blockchain. Blockchain is a specific kind of DLT in which transactions keep with the immutable cryptographic signature that known as a Hash. There have been lots of attempts to create the digital money in past but a lot of people have fail.
However, in case someone is creating the new currency which is known as X dollar. Then how can we will able to trust that they will not give themselves a million x Dollars or they will able to steal the X dollars for themselves? Bitcoin was one of the most popular cryptocurrency that solve this kind of issue by making the use of particular database. Majority of the normal database like as an SQL database & have always someone in the charge. This will surely able to change overall entries. Blockchain is completely different from others because nobody is in the charge.
Blockchain is collecting the important details together in groups. This also known as blocks which hold the sets of details. Block has the various storage capacities. Blockchain has become a specific kind of database which is completely different from the typical database in way which it stores the details. Blockchain keep the important information in blocks secuerly.