What is Blockchain?

 

The term “blockchain”refers to a peer-to-peer distributed ledger that is secured by using cryptography.

 

A blockchain may be open and permissionless or private and permissioned.

 

The Bitcoin and Ethereum blockchains are examples of open, public and permissionless blockchains.

 

 

Features:

 

Blockchain derives its name from the way it stores transaction data in blocks that are linked together to form a chain. As the number of transactions grows, so does the number of links in a blockchain.

 

 

How it works?

Blockchain records and confirms the time and sequence of transactions, which are then logged into the blockchain network, governed by rules agreed on by the network participants for a public blockchain.

 

 

Blockchain Types:

 

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Centralized networks

are built around a single, centralized server/master node, which handles all major data processing and stores data and user information that other users can access.

Decentralized networks

distribute information-processing workloads across multiple devices instead of relying on a single central server. Each of these separate devices serves as a mini central unit that interacts independently with other nodes.

Distributed network

is similar to a decentralized network in the sense that it forgoes a single centralized master server in favor of multiple network owners.

 

Blockchain technologies may be utilised to support or enhance a variety of businesses and operations, e.g. :

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How to invest Blockchain?

To invest in Blockchain, you can simply invest an ETF.

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