What is Blockchain?

Blockchain is a digital decentralized, distributed ledger that exists on different computers. It is an immutable ledger that is used to keep vital information such as transactions, and records, and keep track of assets on different computers. Records stored on the blockchain are securely linked with cryptographic hashes attaching different blocks that can't be altered. Blockchain records are immutable, which means file records can't be changed or manipulated. In the decentralized nature of the blockchain, data are stored across different computers, also referred to as nodes.

The benefit of blockchain is more than being used for transactions.

• It put an end to third-party agreements.

• Members of the Network can view and track transactions from one point to another which promotes collaboration.

• Blockchain is secure because of its cryptographic hashes, which makes it secure, and different from traditional database

• Every transaction is linked to the previous transaction which can be seen as a supply chain mechanism

• Blockchain eliminates the third party. It improves peer-to-peer transactions.

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