How Blockchain Technology Works ?
Problem Statement:- Unless you have been living under a rock, you may most possibly have heard about “Blockchain”. It appears to become one of the buzzwords of the year. Yet, numerous individuals cease to recognize what blockchain is or how can works. Imagine you and a companion of yours are transacting/transferring money from one account to another. You go to your bank and ask the banker to transfer a certain amount from your account to that of your companion’s. The bank registers this in their internal servers. This record needs to be updated on both, receivers’ and senders’, accounts. The procedure may seems simple but a problem, which cannot be disregarded is that this data may get hacked. Records of transactions can be manipulated easily or changed. To resolve this issue, Blockchain comes in. What is Blockchain? A block in a blockchain is a group or collection of information. The information is added to the block in a blockchain, by connecting it with other block...