What is blockchain and how does it work?

Blockchain is a digital ledger database whose recorded contents are encrypted into a sequence of blocks and distributed throughout a network of participating computers (nodes). Blockchain is a distributed ledger database system whose technologies can change the way businesses and governments operate.

What is a private blockchain?

Private blockchains, like the ones IBM uses, only give certain people access to the blockchain network. Since data written to the blockchain is immutable and timestamped, it provides a transparent record of everything added to the system. Anyone with a node on the network can see every transaction.

What is a decentralized blockchain?

The core concept is a public ledger with copies spread out among multiple locations called nodes, which usually refer to individual computers with copies of the ledger. This is what people mean when they refer to the blockchain as decentralized. No one person or entity has control of the information kept in the record.

What is IBM Blockchain for Dummies?

IBM Blockchain | IBM Now in its 3rd edition, IBM’s Blockchain for Dummies has introduced blockchain to more than 68,000 readers. Blockchain defined: Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network.