What Is Blockchain What Is Blockchain and How Does It Work

What Is Blockchain | Smart Contracts | Explanation of Blockchain 👉 Get your own Binance Account from Here: 👉 Best Hardware Wallet (Trezor): 🔥 Binance Review | Binance Review Tutorial 2021 👇 🎬Watch our most recent videos: 🔥Block Chain 🔥 How Does Blockchain Work? Everything You Need to Know!👇 🔥Crypto Trading Strategies 🔥 What is Helium 5G?👇 _____________________________________________________________ Links mentioned in the video: ✅ Best Hardware Wallet (Ledger Nano): ✅ Best Hardware Wallet (Trezor): _____________________________________________________________ Welcome to our What Is Blockchain Video! Blockchain is a distributed database technology that allows multiple parties to share access to a secure, tamper-proof ledger. It was first introduced in 2008 as a means of supporting the Bitcoin cryptocurrency, but has since expanded to many other use cases, including supply chain management, voting systems, and more. At its core, a blockchain is a database that is maintained by a decentralized network of computers, or nodes. Each node in the network stores a copy of the database, and transactions are verified and added to the database through a consensus mechanism. The database is organized into blocks of transactions, which are linked together in a chain using cryptographic hashes. When a new transaction is added to the blockchain, it must first be validated by the network of nodes. This validation process involves confirming that the transaction is valid and that the party sending the transaction has sufficient funds to complete it. Once a transaction has been validated, it is added to a new block of transactions, which is then added to the existing chain of blocks. Each block contains a cryptographic hash of the previous block, which ensures that the chain is secure and tamper-proof. If someone tries to tamper with a block in the chain, the hash of that block will no longer match the hash stored in the next block, alerting the network to the attempted tampering. One of the key benefits of blockchain technology is its ability to provide trust and transparency without the need for a central authority. Because the database is maintained by a decentralized network of nodes, there is no single point of failure or control. Additionally, because transactions are validated by the network, there is no need for intermediaries such as banks or payment processors, which can reduce costs and increase efficiency. Another benefit of blockchain technology is its immutability. Once a transaction has been added to the blockchain, it cannot be changed or deleted. This means that the blockchain provides a tamper-proof record of all transactions that have ever occurred on the network. This feature is particularly valuable in applications such as supply chain management, where it is important to track the provenance of goods and ensure their authenticity. In summary, blockchain is a distributed database technology that provides trust, transparency, and security through a decentralized network of nodes. Transactions are validated and added to the database through a consensus mechanism, and the resulting blockchain provides a tamper-proof record of all transactions that have occurred on the network. ____________________________________________________________ The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses a considerable risk of loss. The speaker does not guarantee any particular outcome. I hope you found value in our What Is Blockchain video. Make sure to leave a like on the video if you gained value from it! #Blockchain #Contracts #Crypto #Coin #Bitcoin #Today #BTC #Binance #Ethereum #ETH #Bitcoin #CryptoGuide #crypto #Ether #DigitalCurrency #BestCryptoExchange 👉👉 For Collaboration Contact Us At: collab@ 🔥 🔥 For More Crypto News Check Out Our Site: ________________________________________________________________________ ⏰Timestamps⏰ 00:00 Invest In Blockchain Project Introduction 00:11 Invest In blockchain Project 03:06 Invest In blockchain Project Summary 03:13 Invest In blockchain Project Outro