Blockchain

Blockchain is a way of storing data in blocks, which are then linked together to form a chain essentially functioning as a database. It records details like who transferred currency to whom, ensuring that the same currency cannot be spent twice.

Think of blockchain as a digital ledger. Now, what if someone tries to create a fake ledger? Since this false ledger would be much smaller than the legitimate one because it’s fabricated on the spot—no one in the network would accept or use it.

At the end of every page (or block) of transactions, a unique hash number is generated. In a blockchain, if one previous hash is altered, it does not automatically change all the previous hashes in the chain.