All About Blockchain technology | What is blockchain and how does it work? , Blockchain is , cryptokitties , hyperledger .

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All About Blockchain technology | What is blockchain and how does it work? , Blockchain is , cryptokitties , hyperledger .

All About Blockchain technology | What is blockchain and how does it work? , Blockchain is , cryptokitties , hyperledger .

Blockchain is a technology with the help of which cryptocurrency like Bitcoin does its work. Apart from this, all the cryptocurrencies available across Whish are all controlled with the help of Blockchain technology.

Blockchain technology is going to be very famous in the coming few years, sometime everyone will be able to use this technology for everything. The main feature of Blockchain technology is that there is a lot of potential for fraud in this technology. And under private technology, any data can be easily changed through this. Whereas in Blockchain technology, once the data is saved, it is not only difficult to change that data, but it is impossible.

Many people know very well about Bitcoin but do not know at all about what is the blockchain technology behind it. And it is always coming in the mind of the people that how would the blockchain technology work.

That’s why we are going to tell you today what is a blockchain, and how does this blockchain work? We try our best to explain to you about Blockchain Technology in a very easy way.

All About Blockchain technology | What is blockchain and how does it work? , Blockchain is , cryptokitties , hyperledger .

What is Blockchain and how does Blockchain technology work?

Blockchain technology is used to control the Bitcoin cryptocurrency. Blockchain is a huge collection of databases where all the information is stored electronically in a computer. Blockchain also keeps all the information digitally recorded in its database for very easy access to all the people.

The biggest advantage of blockchain is that it can be used by many people at the same time. Although you can store information in your computer, but it can be manipulated. But once the information is stored in Blockchain Technology, that information cannot be changed.

How does Blockchain Technology work?

There are mainly three ways of working of Blockchain Technology, which are as follows.
1.Blocks
2.Miners
3.Nodes

Who invented Blockchain Technology?

Blockchain technology was invented by Satoshi Nakamoto in the year 2008. Blockchain technology was invented so that they can do it in the cryptocurrency bitcoin, according to its public transaction ledger.

The main objective of Satoshi Nakamoto behind doing this work is to give decentralized Bitcoin ledger the ability to control their money so that no third party, or any government can access or monitor these money at all.

Many people believe that it is not the same person named Satoshi Nakamota who invented Blockchain Technology. This is just this imaginary character. By the way, the correct information is not available with any person regarding the veracity of this matter.

The invention of blockchain technology for bitcoin is the first digital currency that can solve the double spending problem without the help of any trusted central authority or central server. That is why this Blockchain Technology has also remained the inspiration of many other applications.

Click here to know how blockchain technology works.

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