Introduction to blockchain

Lets talk about my favourite buzz word “blockchain”, I am going to give insight about blockchain in a most simplified form.

What is blockchain ?

Assume you have a book called as Ledger.(Lets assume book as Account Ledger) now this book is available in different libraries (Lets assume Libraries as Network Nodes) across different location. Every page in this Ledger connected to other pages in sequential order and every page contains some transactions. Now page is a block and series of page is like blockchain.

What is distributed ledgers ?

Now what if I write something on this book and content is getting replicated in all other books available in different library across different location in real time.Now its become distributed book ( ledger ) or also called as distributed ledger (aka — DLT).

In More simple words , blockchain is a Innovative idea/concept and we are trying to evolve new technology out of it. Yes , I support this idea because it can solve many day to day problems and Use-cases.

Why it is secure?

Lets look into it , every page is connected to other page in a sequential order so what if i remove one page out of it.whenever someone read this book , he/she easily find out what is missing just by looking the page number hence that book got corrupted and will be removed from the library and same is the case with blockchain network.whenever new block is added in the blockchain, it checks whether the local copy of the ledger is valid or should I invalid it and replicate ledger from the network.This ensure that everyone will have valid copy of the ledger.

I hope my article was able to make you understand about blockchain.