Blockchain Technology

Blockchain Technology

A database is information that is collected and stored in digital form. A block chain is a classified database shared over a network of computers. There is a difference in structure between a normal database and a blockchain. A book in which a group of transactions of similar nature is recorded is called 'Ledger' in accountancy. Blockchain plays a critical role in cryptocurrency systems such as Bitcoin. Blockchain is used to keep a secure record of transactions for Cryptocurrency. Blockchain is able to guarantee the reliability and security of such data. Blockchain collects information and stores it as a group. This group is called 'block'. Each block contains a set of data. Blocks have fixed storage capacity. Blocks are closed when they are full of information being stored. This block will be connected to previously filled blocks. A block chain is a chain of data blocks. It helps in easy transfer of highly accurate information in businesses.


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Sreejith Hrishikesan

Sreejith Hrishikesan is a ME post graduate and has been worked as an Assistant Professor in Electronics Department in KMP College of Engineering, Ernakulam. For Assignments and Projects, Whatsapp on 8289838099.

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