What is blockchain technology and how is it work?

What is blockchain technology?

Blockchain is a computer-based technology that is being used in bitcoin currency. Blockchain seems complex but its concept is very simple, it is the type of database so you need to understand the concept of the database before blockchain.

The collection of information that digitally stores in the computer system is called a database. In the database data and information store in the table to enable the search and filtering of relevant information.

The main difference between a database and blockchain is the storage data structure. In blockchain information stored in groups also known as blocks and contain a specific set of information, every block contains unique information when filling the information, it connects with a prior filled block, which creates the data chain called blockchain. The database has information in tables whereas blockchain has information in the box, blocks, or chunks, so we can say that blockchain is a database but not all databases are blockchain.

How does blockchain work?

Blockchain technology has a systematic mechanism.

The single block of the blockchain has three elements data, hash, and hash of the previous block

Decentralization:

In the case of Bitcoin, and in contrast to most databases, not all such machines are under one umbrella and a single person or collective will control each computer or group of computers.