What exactly is Blockchain Technology?
Blockchain is usually a decentralized, distributed electronic ledger that records transactions across quite a few computer systems in a very community. It's intended to securely, transparently, and immutably history info with no have to have to get a central authority.
Every single block in the chain incorporates a number of transactions, and each and every time a different transaction takes place, a record of that transaction is added to every participant's ledger. The decentralized database managed by several members is referred to as Dispersed Ledger Technology (DLT).
Blockchain derives its name in the way it retailers transaction knowledge - in blocks which have been joined alongside one another to form a chain. As new transactions occur, a record of that transaction is added to each participant's ledger. The databases is decentralized and managed autonomously.