But first, lets get back to basics. What is blockchain and how do it work?
A blockchain is a file for storing data. Or, to put it in more technical terms, it’s an open, distributed database systems . The data is distributed (i.e. duplicated) across many computers, and the whole blockchain is completely decentralized. This means no one person or entity (say, a government or corporation like Google or Microsoft ) has control over the blockchain; this is a radical departure from the centralized (Government data bases) databases that are controlled and administered by businesses and other entities.
So how does it work? In very simple terms, the file is comprised of blocks of data, with each block being connected to the previous block with the hashing code, forming a chain. Hence the name ‘blockchain’. As well as the data itself, each block also contains a record of when that block was created or edited it contains the hash code of the previous block , which makes it very useful for maintaining a detailed system of record that cannot be corrupted or lost and this the the major use case to maintain the integrity of the data .
Because the whole blockchain is duplicated across many computers, any user can view the entire blockchain in the case of public blockchains. Transactions or records are processed not by one central administrator, but by a network of users who work to verify the data and achieve a consensus, these verifiers are known as miners, each miner is paid some sort of cryptocurrency for successful mining. If this sounds familiar, it’s because Bitcoin operates in the same way. In fact, Bitcoin is the first example of blockchain in action.
I personally used this youtube video while starting as Blockchain Developer
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