BLOCKCHAIN 101 (LESSON 1)
BLOCKCHAIN 101 (LESSON 1)

By Franklinlee | All-things-Crypto | 19 Feb 2020



WHAT IS BLOCKCHAIN?

 

Break the word into the two syllables it's possesses and you can begin to understand what a 'Blockchain' is. In simplified terms, a Block is a data storage unit containing either part or the full message encrypted to ensure security. It is a computer file that stores transaction data. It can then be arranged in a linear sequence, which will form a blockchain.
While a chain taken literally is a link, a series of interconnected things. Joining these two together, what we understand a Block to be and what a chain is, we can come up with the definition of a Blockchain to be:

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A series of interconnected blocks that contain messages cryptographically protected in them. It can also be seen as a decentralized, digitized ledger that records transaction information about a cryptocurrency in a chronological order. 

 

In its simplest form that is what a Blockchain is, and in subsequent discussions we will be talking more about a Blockchain, its uses and applications, features and importance to us. See you in the next class guys, and fromme Franklinlee it's bye for now people.


Franklinlee
Franklinlee

Crypto enthusiast, collector, money lover.


All-things-Crypto
All-things-Crypto

Everything I have learnt and I'm still learning about Cryptocurrency and Blockchain.

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