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 blockchain authentication?

Therefore for the security of data exchange on the network, blockchain flow’s a process that verifies a user with distributed ledger and also verifies the digital identity of the user at the same time to protect the passwords and data of the user, this process is known as Blockchain Authentication.

How are transactions recorded in a blockchain account book?

Transactions are recorded in an account book called a ledger. A blockchain is a type of distributed database or ledger—one of today’s top tech trends —which means the power to update a blockchain is distributed between the nodes, or participants, of a public or private computer network. This is known as distributed ledger technology, or DLT.

What is a blockchain ledger?

A blockchain ledger consists of two types of records, individual transactions and blocks. The first block consists of a header and data that pertain to transactions taking place within a set time period. The block's timestamp is used to help create an alphanumeric string called a hash.