TOP EMERGING BLOCKCHAIN TECHNOLOGY TRENDS TO FOLLOW IN 2021
Blockchain sounds complicated and it certainly can, but the basic concept is really simple. Blockchain is a type of database. To understand blockchain, you must first understand what a database is.
Blockchain is a special kind of database.
The way it stores information is different from a normal database. Blockchains store data in blocks, which are then grouped together.
As new data arrives, they enter a new block. Once a block is filled with data, it is anchored to the previous block, causing the data to be sorted together.
A variety of information can be stored on the blockchain, but so far the most common use has been through bargaining.
In the case of bitcoins, this blockchain is used in a decentralized manner, so that no single individual or group has control – rather, all users collectively retain control.
Decentralized blockchains are unchangeable, which means that the data entered is irreversible. For bitcoins, this means that transactions are constantly recorded and viewed at all times.