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** DIGAF**

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Goodbuddy4863 Member Level  Wednesday, 01/03/18 02:30:56 PM
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** DIGAF**

Without blockchain, bitcoin couldn't exist. Here's how it works:

Each "block" represents a number of transactional records, and the "chain" component links them all together with a hash function. As records are created, they are confirmed by a distributed network of computers and paired up with the previous entry in the chain, thereby creating a chain of blocks, or a blockchain.

The entire blockchain is retained on this large network of computers, meaning that no one person has control over its history. That's an important component, because it certifies everything that has happened in the chain prior, and it means that no one person can go back and change things. It makes the blockchain a public ledger that cannot be easily tampered with, giving it a built-in layer of protection that isn't possible with a standard, centralized database of information.

While traditionally we have needed these central authorities to trust one another, and fulfil the needs of contracts, the blockchain makes it possible to have our peers guarantee that for us in an automated, secure fashion."

https://www.digitaltrends.com/computing/what-is-a-blockchain/amp/

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