As a distributed ledgerA ledger is a database that stores recorded data; a distributed ledger synchronizes that data across a network of nodes.... Read More technology (DLT), a blockchain is a digital ledgerA digital ledger is an online record of transactions. The digital ledger tracks financial or other data. Read More that can create an immutable recordAn immutable record is a digital record that cannot be changed or deleted. Immutable records are used in blockchain technology... Read More of transactions. A blockchain typically stores data linearly and chronologically across multiple computers. This structure allows for increased security and immutability since it would be difficult for a person or entity to tamper with the data. For example, the Bitcoin blockchainThe Bitcoin blockchain is a shared public ledger that records all bitcoin transactions. It is constantly growing as "completed" blocks... Read More is a decentralizedDecentralization, an aspect of blockchain technology, facilitates power or authority distribution among individuals, groups, or institutions. A decentralized structure allows... Read More, public ledger that contains transactional information. Users can verify that transactions have occurred simply by looking at the publicly available data on the BitcoinOne bitcoin is a unit of the virtual currency called Bitcoin. BTC is the ticker symbol for Bitcoin, and refers... Read More blockchain networkA blockchain network is a decentralized system that allows for peer-to-peer transactions. The main components of a blockchain network are... Read More. Adding new transactions to the chainA chain is a linear sequence of data blocks. Each block contains a cryptographic hash of the previous block and... Read More employ a hashA hash is a fixed-length code representing any length of words, messages, or data generated by a hashing algorithm. In... Read More function, timestamp and digital signatureA digital signature is a cryptographic mechanism designed to provide proof of authority and authenticity in electronic form. In blockchain... Read More, linking the transactions together and makes it difficult to modify data. As a result, blockchains ensure the accuracy and integrity of the chain.
