What is blockchain & how does it work?

Blockchain defined: 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 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.

How does blockchain protect against tampering & system failure?

By its very nature, blockchain acts as a safeguard against tampering and system failure. If one node on a network gets hacked and someone changes or deletes transaction data on that computer, the other nodes on the network will reject the corrupted record because it doesn't match their copies of the ledger.

Which cryptocurrencies use blockchain technology?

Most cryptocurrencies use blockchain technology to record transactions. For example, the bitcoin network and Ethereum network are both based on blockchain.