While you may not be familiar (yet) with the BlockChain! We are working to add amazing programs, services and products that are moving into the inevitable future of BlockChain Innovation.
If you are like me, you have to watch things at least twice before the information sinks into your brain! Additionally, I think that blockchain’s are the future and in the now. I remember when I got my first computer, I did not know how to turn it on! And now, look at me, trying to explain blockchains, lol.
A blockchain are distributing database or ledger that is being sharing between the nodes of a computer network. As a database, a blockchain stores information electronically in a digital format. Blockchains are best known for their crucial role in cryptocurrency systems for maintaining a secure and decentralizing record of transactions. The innovation with a blockchain is that it guarantees the fidelity and security of a record of data. It generates trust without the need for a trusted third party.
Blockchain into the future
One key difference between a typical database and a blockchain is how the data is being structured. A blockchain collects information together in groups, known as blocks, that hold sets of information. Blocks have certain storage capacities and, when filling, are closing. It is then linking to the previously filled block, forming a chain of data known as the block chain. All new information that follows that freshly adding block is compiling into a newly formed block. That will then also be adding to the chain once filled.
A database usually structures its data into tables, whereas a blockchain, as its name implies, structures its data into chunks (blocks) that are strung together. This data structure inherently makes an irreversible timeline of data when implemented in a decentralized nature. When a block is filled, it is set in stone and becomes a part of this timeline. Each block in the chain is given an exact timestamp when it is added to the chain.
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