Understanding Blockchain: A Deep Dive

Everything You Need to Know About Blockchain

What is Blockchain

A blockchain is a chain of all blocks ever generated. Each block created is hung on the previous one and a block chain is created.

Each block has a unique block ID of the previous block in the block header. The block ID is a so -called hash that is calculated from many different parameters of the block (e.g. Nonce).

A chain is caused by the link to the respective block IDS (block chain).

Nobody can manipulate the data in a block and thus in the entire blockchain.

Every network participant (Full Node) has saved a copy of the current blockchain. This decentralized data structure cannot be deleted either.

These two circumstances make the blockchain a very safe, decentralized database.