RE: Musing Posts
Im learning white Blockchain is simply an online global database that can be used by anyone around the world who is connected to the internet. Unlike other databases that are usually owned by certain institutions such as banks or government, Blockchain does not belong to anyone. Make it more transparent because it can be accessed by anyone.
Like the main cashbook in the bank that records all customer transactions, Blockchain also records all transactions carried out by its users. It's just that, if the main cashbook can only be seen and checked by the authorities at the bank, then all transactions via Blockchain can be seen by all users. Because the Blockchain information warehouse is stored permanently throughout the user's network, because the information collected is also distributed to everyone.
Then how can the data of a group of people not supervised by a third party institution be a safer place? The key, is the number of Blockchain users. The more users, the more difficult it is to hack.
Transactions that occur will be recorded by the users' computers at once announced for verification. The transaction records are then combined with other transaction records, then tied or chained according to chronology. The transaction record is then called block. And a block of blocks called Blockchain.