What is a blockchain?

In this way, a blockchain is the foundation for immutable ledgers, or records of transactions that cannot be altered, deleted, or destroyed. This is why blockchains are also known as a distributed ledger technology (DLT).

How does the blockchain verify transactions?

Once a transaction is recorded, its authenticity must be verified by the blockchain network. Thousands of computers on the blockchain rush to confirm that the details of the purchase are correct. After a computer has validated the transaction, it is added to the blockchain block.

What is the future of blockchain?

Blockchain dramatically reduces the cost of transactions and information flows. Blockchain favours frictionless flows of tokens and other assets. In the future blockchain era, trillion-dollar tokens will play a major role. These are tokens which support a decentralized ecosystem of entities. 3. Blockchain identity For All

What happens when a block is added to the blockchain?

Whenever a new block is added to the blockchain, every computer on the network updates its blockchain to reflect the change. By spreading that information across a network, rather than storing it in one central database, blockchain becomes more difficult to tamper with.