What is blockchain & how does it work?

What is blockchain? Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding).

What is the difference between a database and a blockchain?

A database is typically centralized, meaning it is controlled by a single entity. In contrast, blockchain is decentralized and distributed among multiple nodes. Additionally, a blockchain is designed to be transparent, secure, and immutable, whereas a database can be modified by authorized users.

How do blockchain blocks of data work?

Blockchain blocks of data are stored on nodes—the storage units that keep the data in sync or up to date. Any node can quickly determine if any block has changed since it was added. When a new, full node joins the blockchain network, it downloads a copy of all the blocks currently on the chain.