Blockchain is fast becoming one of the most relevant terms in the financial world, with the shift towards this type of technology accelerated by the COVID-19 pandemic.
Here, we give you a complete guide as to all things blockchain.
What is blockchain?
Blockchain is a digitally distributed, decentralized, public ledger that facilitates the process of recording transactions online.
The sole aim of blockchain is to store and share data, and the blocks contain all of the transactions that have taken place on the network.
In a blockchain, a request for a transaction is made and then the system authenticates this request. This leads to the creation of a 'block' representing the transaction, which is forwarded to every participant on the network.
The participants compete to validate the transaction, and when it is validated, the block is added to existing blocks, which in turn forms a chain.
This process whereby the various participants compete to authenticate a block and verify a transaction is known as "mining".
Continue reading:
https://www.marca.com/en/technology/2022/03/05/62237556268e3e8b308b45ec.html
Here, we give you a complete guide as to all things blockchain.
What is blockchain?
Blockchain is a digitally distributed, decentralized, public ledger that facilitates the process of recording transactions online.
The sole aim of blockchain is to store and share data, and the blocks contain all of the transactions that have taken place on the network.
In a blockchain, a request for a transaction is made and then the system authenticates this request. This leads to the creation of a 'block' representing the transaction, which is forwarded to every participant on the network.
The participants compete to validate the transaction, and when it is validated, the block is added to existing blocks, which in turn forms a chain.
This process whereby the various participants compete to authenticate a block and verify a transaction is known as "mining".
Continue reading:
https://www.marca.com/en/technology/2022/03/05/62237556268e3e8b308b45ec.html
