What is blockchain — Blockchain oversimplified

Savitha Sampath
Sep 5, 2018 · 1 min read

Originally published in TacitKey — What is Blockchain?

An oversimplification that will help you explain the concept to anyone so you will, henceforth, be known to be the go-to guy for C-level jargons.

The blockchain is a shared online ledger where transactions are signed digitally ensuring the authenticity of the data. New information can be added on to the old ones forming a chain. However, data already entered cannot be edited or adjusted. The blocks are linked through a technology called cryptography.

Blockchain — How it works?

When a new transaction is added on to the chain, it is evaluated using algorithms to verify its authenticity. If it is found to be valid, it is added to the chain of transactions. If not, it gets rejected. This ability of the blockchain to run without any unifying authority makes it an efficient and reliable source.

Read the full article — BlockChain How It Works?

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