The Benefits of Blockchain

First of all, what is blockchain and why is it beneficial?

A list of records that continuously grows are known as blocks. Each block has transaction data and a time stamp that are secured through cryptography. Blocks and previous blocks are connected through cryptographic hashes – a mathematical algorithm designed as a one-way function – which thus creates blockchains.

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Blockchain was invented in 2008 by Satoshi Nakamoto in 2008 for use in cryptocurrency bitcoin.

One of the main benefits of blockchain is it’s resistance to modification of the data stored and it’s support through a decentralized network.

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