What Is Blockchain?

what is blockchain ?

Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.
A Blockchain is a method of storing data in blocks which are linked together in the form of a chain. 2. It relies on hashes and cryptography to secure the data inside a block. 3. This chain of blocks resides on all computers in a peer-to-peer network.
The goal of blockchain is to allow digital information to be recorded and distributed, but not edited. Blockchain technology was first outlined in 1991 by Stuart Haber and W. Scott Stornetta, two researchers who wanted to implement a system where document timestamps could not be tampered with.
The issue of security has been a fundamental one for bitcoin since its development. On one hand, bitcoin itself is very difficult to hack, and that is largely due to the blockchain technology which supports it. As blockchain is constantly being reviewed by bitcoin users, hacks are unlikely.
**********What are the benefits of blockchain technology?***********
Trust. Blockchain creates trust between different entities where trust is either nonexistent or unproven. ...
Decentralized structure. Daniel Field. ...
Improved security and privacy. ...
Reduced costs. ...
Speed. ...
Visibility and traceability. ...
Immutability. ...
Individual control of data.
*************Can a blockchain be deleted?**************
Blockchain comes with the concept of keeping the data or transactions decentralized. This means all your data is recorded forever in a network of computers. Data, once sent to a blockchain network, cannot be deleted or removed from all the systems.

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