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|| Benefits of Blockchain ||

mahmudul01 - 2024-04-16 12:26:06



Assalamu Alaikum





How are you all?Today I will share with you about
What is blockchain?I am sharing with you at the beginning because if I share at the beginning then you can realised it.I am young and have very little experience so please excuse any mistakes.

![blockchain-3277336_1280.webp](https://cdn.steemitimages.com/DQmX3mV3LUafpYWUFc2YSFsa7o38krDNMzMWVnsnf6rZ29r/blockchain-3277336_1280.webp)
[Source](https://pixabay.com/vectors/blockchain-cryptocurrency-network-3277336/)
Blockchain is a novel technology that is going to revolutionize our digital world.
Blockchain technology is a new type of chain system that forms the backbone of the Internet.  Which can be used, but not duplicated.
Generally the term blockchain is made up of two words.  One is block and the other is chain.  Blockchain technology consists of many data blocks, all these data blocks are encoded using cryptography technology.  These blocks are connected to each other to form a long chain.
Bitcoin was invented in 2008 by a Japanese man, Satoshi Nakamoto, using blockchain technology.  Since then, this technology has become the subject of much discussion.
Have you ever wondered if it is possible to exchange information without the shadow of an intermediary?  A set of data is divided into individual "blocks".  Each block contains transaction details, a time signature, and a unique link to the previous block, much like a chain.  These connections are made in such a way that if one block is changed, all subsequent blocks must also be changed.

![network-7057559_1280.webp](https://cdn.steemitimages.com/DQmU3VjQM3RRXTigkFPnqfNdEQgbrXXGrUj2rqxPh4utXRA/network-7057559_1280.webp)
[Source](https://pixabay.com/vectors/network-earth-blockchain-globe-7057559/)
Blockchain is a technology that is very secure and fast.  Secure because it is impossible to hack and match the transactions you make using the blockchain
Suppose, you make a payment to someone using blockchain, then your information will immediately reach all the computers involved in this system.  And to give the data validity, the Hash tag of the previous transaction will be added to your transaction.  This way your transaction hash will be linked as previous hash of next transaction hash.  In this way the chain system continues.
Today's discussion ends here.  I hope you find it interesting and able to understand.  Share your thoughts on today's topic.  Wishes and blessings to all. 

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