Classroom to Smart Contracts: Understanding Blockchain in Elearning
Blockchain is a decentralized, digital ledger of transactions that is immutable, meaning it cannot be altered once data is added. It is a distributed database that allows multiple parties to have simultaneous access to the same information, without the need for a central authority. This makes it ideal for recording and tracking transactions, especially for applications that require transparency and security.
Nodes, or computers, validate and add transactions to a blockchain. A hash identifies and verifies each block, which contains a group of transactions. Changing a block in the chain requires changing all subsequent blocks, making it nearly impossible.
Blockchain technology has many applications, including cryptocurrencies like Bitcoin, which use blockchain to record transactions ...