Blockchain is a chain of blocks that contain information. Introduced in 1991 by a group of researchers and intended to timestamps digital. It’s like a notary but it was not proper so in 2009 by “Satoshi N” create a Cryptocurrency called Bitcoin.
It’s a distributed ledger and open to everyone. Interesting part once the data recorded then it’s difficult to change anything. It’s next to impossible.
Blockchain contains Data, Hash and Hash of previous block. Data stores details of transactions like sender, receiver and amount.
Hash compare with fingerprint because it’s unique and once block created hash calculated. If somewhere block changes will cause hash to change. Hash of previous block create the chain.
Blockchain uses P2P network and everyone allow to join. Every new block will send to everyone on the network for check out and it’s called Consensus.
There is one more thing called “smart contracts.” It’s a program which exchange coins but in a certain condition.
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