What is a Blockchain/Distributed Ledger Technology (DLT)?

The Blockchain is a database, which is distributed among all nodes. No one or several nodes control the Blockchain. All nodes are able to validate a transaction. Once a transaction is recorded on the Blockchain and the Blockchain has been updated, then that transaction cannot be altered.

A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.

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How does Blockchain work?

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Block

Blocks are where unalterable data from the network is stored, mainly the data for transactions.

Node

A node is a computer on a cryptocurrency network.

Hash

A hash is the result of a hash function, which is a cryptographic operation that generates unique and unrepeatable identifiers from a given information.

Centralized -vs- Decentralized

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