What is Blockchain Technology?

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Blockchain is a way of storing data or a digital register of transactions, transactions, contracts. All that needs a separate independent record and, if necessary, verification. In the blockroom you can store data on loans issued, property rights, traffic violations, marriages. That is, almost everything. Its main difference and undeniable advantage is that this registry is not stored in any one place. It is distributed among several hundreds and even thousands of computers all over the world. Any user of this network can have free access to the current version of the registry, which makes it transparent to all participants.

Blockchain - the public database of all transactions that have ever been committed in the system. Widely used is also the term "block" as "transliteration from" (English blockchain, block chain: block, chain).

The chain of transaction blocks is a chain of transaction blocks built according to certain rules. The term first appeared as the name of a distributed database implemented in the Bitcoin crypto currency.


What is special about Blockchain technology?

The distributed nature of the Blockchain databases makes hacking hacking almost impossible, because for this they need to simultaneously access the copies of the database on all computers on the network. Technology also allows you to secure personal data, because the hashing process is irreversible. If even the original document or transaction is later changed, they will receive a different digital signature as a result, which signals a mismatch in the system.