My Favorite Blockchain Network || 1st Part

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Holla friends and family,

Guess who is here again? Well it is i, @awesononso your favourite blogger.

Steemit is a very nice Platform where I come to blog for fun and to interact with other hard-working individuals.

This is my first post here in tron-fan-club having gone through all it's rules and regulations, and I am happy to be here.

This day, I want to discuss about my favourite blockchain but before then, I want us to learn in details what a blockchain is and how it operates.

A blockchain technology can be explained to a distributed database that is used for transactions recording across different computers.

It can also be explained to be an advanced database mechanism that permits for the transparent sharing of information within a network.

The blockchain technology has some beautiful characteristics which distinguishes it from other technology in the world.

Listed and explained below are some features of blockchain technology

There are numerous features of blockchain technology which makes it very useful in the world we live in today.

Some of this features will be explained as we proceed.

• DECENTRALIZATION:

Decentralization is one major feature of the blockchain technology.
And decentralization of the blockchain technology implies that the blockchain is not centralized, and this is understood to mean that the blockchain is free of the control of the central authority.

When a blockchain is decentralized, it means that there is no third party involved in its operation, or better still it doesn't need the interference of a third party for the facilitation of it's transactions.

In this type of situation, users are allowed to make decisions of their own and they are not compelled to obey the instruction of the central authority.

A decentralized technology can be further understood to be a technology where the operators need not give a final report to any leader or authority.

• TRANSPARENCY:

The transparent nature of the blockchain is one very important feature that contributes to its Importance in the cryptospace.

The transparency of the blockchain is understood to be a phenomenon whereby nothing is hidden from all participants in the blockchain.

Here, the activities of every user is openly exposed and can be easily traced in case of fraudulent activities.

This is one reason it is difficult for fraudulent activities to take place on the blockchain technology.

We shall call it a day from here, when next we meet, we shall understand more concepts of the blockchain technology.