How Blockchain Works?
Adekunle Joshua
Blockchain is a decentralized digital ledger which records transactions on multiple computers with high security and transparency
Each block in a blockchain consists of a unique code called a hash, which is responsible to maintain the integrity of the entire network
When a new transaction is added, multiple computers in the network verify and validate it ensuring its authenticity
Following the validation, the transaction is added to the blockchain and becomes a permanent part of the ledger which cannot be altered or deleted
Blockchain technology has numerous applications in the financial industry, supply chain management, and voting systems
Smart contracts, the self-executing contract are key features of blockchain technology
– Blockchain technology has the potential to revolutionize the way we exchange value and conduct business in the digital age