The Architecture of a Blockchain

The new inviolable data base in the world market.

The cryptocurrencies are decentralized, it is produced by an entire system collectively. Differently from a currency controlled by a bank or an economic system (such as Federal Reserves), the decentralized currency has no specific institute that controls the units produced. Its system, safety, integrity, and balance are maintained by a community called Miners.

The Miners are the ones responsible for validating and timestamping transactions, registering them with a particular timestamping scheme. Most cryptocurrencies have a cap number of how much can be produced.

Miners work as the printers of the currency and the blockchain is its registrations. All records are kept in blocks, in which the name of the system came from, linked to one another and secured using cryptography. Blockchains typically works with a peer-to-peer network adhering to a protocol for validating new blocks. Once recorded in a block the data can not be altered without altering every block before the first and vice versa, this means you need to alter all systems to modificate one information of the transaction.