Blockchain Technology

Block chain Technology

Blockchain, occasionally appertained to as distributed tally technology (DLT), makes the history of any digital asset in commutable and transparent through the use of a decentralized network and cryptographic hashing. A simple analogy for how blockchain technology operates can be compared to how a Google Croakers document works. When you produce a Google Doc and share it with a group of people, the document is simply distributed rather of copied or transferred. This creates a decentralized distribution chain that gives everyone access to the base document at the same time. No one is locked out awaiting changes from another party, while all variations to the document are being recorded in real- time, making changes fully transparent. A significant gap to note still is that unlike Google Docs, original content and data on the blockchain cannot be modified formerly written, adding to its position of security.