Baby Steps To Block Chain
I am writing this blog to share the knowledge and ideas,I have on Blockchain.I am referring to various Internet sources,books,articles to get the right content in delivering this blog.
Block chain is a shared, distributed ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible — a house, a car, cash, land — or intangible like intellectual property, such as patents, copyrights, or branding. Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved.
“A chain of digital signatures “ is known as Block Chain.
The Blockchain enables each coin owner to transfer an amount of currency directly to any other party connected to the same network without the need for a financial institution to mediate the exchange.
Blockchain is another type of database for recording transaction — one that is copied to all of the computers in a participating network.
Blockchain is sometimes known as “distributed Ledger”
Data in a blockchain is stored in fixed structures called “Blocks”. The important parts of a block are
- The Header — This includes metadata,such as unique block reference number,the time the block was created and the link to previous created block.
- The Content — The list of validated digital assets and instruction statement.
Please share your comments,points to be added.Tomorrow will see you with new concepts and details.