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Blockchain is a decentralized database that is stored simultaneously on multiple computers connected to each other on the Internet.
Each block represents a certain numeric code (not only numeric), and any subsequent block contains information from the previous block. Thus, we should consider that it is not only a database, but also a way to encrypt and transfer data.
Around the world, this technology is actively used to transfer cryptocurrencies. If you send a cryptocurrency over a blockchain, thousands of computers around the world will confirm and store all information about the transfer.
The process of sending a transfer takes minutes. Blockchain money cannot be lost or tampered with. There are no third parties or intermediaries, and the accuracy of calculations is guaranteed by the mathematical accuracy of the technology.
Blockchain can be used not only for cryptocurrency transfers. It is used in the banking industry, cybersecurity, and identity verification. Basically, it is just a technology for organizing all kinds of data.
A continuous consecutive chain of blocks containing information, built according to certain rules. Connection between blocks is provided not only by numbering, but also by the fact that each block contains its own hash sum and the hash sum of the previous block. Changing any information in a block will change its hash sum. To comply with the chain rules, the hash sum changes must be written to the next block, which will cause its own hash sum to change.
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