Blockchain
Blockchain is a term for a type of database in which transactions can be stored. It is a real-time, immutable register of transactions and properties. Blockchain has a structure where the information is stored in blocks. These are bucks that can be copied and replicated on individual computers. Because the systems are identical and synchronized with each other, information will be changed anywhere as information is added or deleted.
Application of blockchain
The major advantage of applying blockchain is that it is a secure (unhackable) structure. The new blocks added at the end of the chain have their own unique digital signature or hash, consisting of a
number-letter combination. Businesses can validate and execute transactions directly in the most secure way possible. This can be done without the need for an intermediary (such as lawyers, bankers or mediators). Blockchain is being used in a growing number of industries. The best-known implementation of blockchain is bitcoin.
