Apr 29 2021

How blockchain works? Part1

Part 1

Lets make a simple start,

If you buy an item from the internet, your bank transfers money from your account to the website account, and keeps a copy of the transaction data. Here the bank is called a ledger(meaning he is a database of transaction)

In a blockchain, There is no middle man for transactions, and data is sent from block to another directly, these blocks are now ledgers, but a decentralized ones!

A block chain saves the balance data on “Node”( think of it as a small box), a group of nodes makes a block(think of it as a big cube with all its sides connected to those small boxes).

To be continued…..