Found 3 Questions For Blockchain

Explain the Key Elements of Blockchain.

Updated on 02-Feb-2023 17:55:48
Key Elements of Blockchain1. Distributed ledger technology  All network participants have access to the distributed ledger and its immutable record of transactions.  With this shared ledger, transactions are recorded only once, eliminating the duplication of effort that’s typical of traditional business networks 2. Immutable records  No participant can change or tamper with a transaction after it’s been recorded to the shared ledger.  If a tr... Read Mores

Explain the Architecture of Blockchain.

Updated on 31-Jan-2023 18:06:55
Blockchain Architecture • Blockchain is a growing list of records, called blocks, that are linked and secured using cryptography. • Each block has the following key components: data, hash, previous hash, and metadata (timestamp, block number). • Blockchain is a chain of blocks which contain specific information (database), but in a secure and genuine way that is grouped together in a network (peer-to-peer). Key component of BlockChain • Data in a b... Read Mores

Explain Block-Chain and its working in detail.

Updated on 31-Jan-2023 17:05:10
Blockchain • It is a digital ledger that keeps a record of all transactions taking place in a peer-to-peer network. All information transferred via Blockchain is encrypted and every occurrence is recorded, meaning that the information. • It is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. • An asset can be tangible (a house, car, cash, land) or intangible (intellectual property,&nbs... Read Mores