Hello friends and I am happy to participate in this assignment organized by @benton3 which is about Blockchain, I suggest that becaus of the changing world and circumstances, crypto is going to be the future of the world, so that is why as kids it is good to learn this from an early age. So that we will be able to understand this electronic world. So it is important to participate in this great opportunity of learning by @steemkidss. Here is my participation in the assignment:

1. What is Blockchain?

Blockchain is a way of storing information in a way that makes it impossible to steal, thereby making it unchangeable. It collects information in groups , which is known as blocks, once the blocks are filled they are closed and then another block us opened for data to be entered into.
Decentralized Blockchain are irreversible. Blockchain forms the bases of cryptocurrencies like Bitcoin. Most Bank Ng systems are different from Blockchains.

Uses of Blockchain

Bitcoins Blockchain store data about monetary transactions, which cannot be edited.
Because Blockchain is a very reliable storing platform, it is able to store International payments and money transfers. Blockchain can improve capital markets, it also has the ability to streamline trade finance deals which enables easy transaction, it is also used for accounting or auditing.

Types of Blockchain

• Public Blockchain: This is a Blockchain that is open to the public and can be joined by anyone without permission. Examples are: Bitcoin and Ethereum.

• Private Blockchain: This is a Blockchain where only a single organization has authority over the work, and the organization knows from the beginning who it's participants are.

• Corsortium Blockchain: This is a Blockchain where several organizations have authority over the work. Examples are: Energy web foundation

• Hybrid Blockchain: This is a combination of both public and private work. Examples are: dragonchain

2. What makes up a Blockchain?

• Block- this is where the information is stored.

• Data- This is what the block contains

• Hash- when a block is filled up with data the hash is like a chain that connects the first block to another block where information is inputed.

Cc:
@ngoenyi
@goodybest
@madilyn02
@chimeroselam