• Home
  • Archive
  • Tools
  • Contact Us

The Customize Windows

Technology Journal

  • Cloud Computing
  • Computer
  • Digital Photography
  • Windows 7
  • Archive
  • Cloud Computing
  • Virtualization
  • Computer and Internet
  • Digital Photography
  • Android
  • Sysadmin
  • Electronics
  • Big Data
  • Virtualization
  • Downloads
  • Web Development
  • Apple
  • Android
Advertisement
You are here: Home » What is Blockchain? Easy Explanation of Blockchain for Dummies

By Abhishek Ghosh March 29, 2019 11:08 am Updated on October 1, 2021

What is Blockchain? Easy Explanation of Blockchain for Dummies

Advertisement

A blockchain is a distributed database that maintains a growing list of records protected from falsification or modification by storage nodes. Block of Block storage is related to storage – block storage. Block is a chunk of data. One blockchain consists of several blocks. Each block is a record of transactions of specific data. Data can be of anything which requires security for re-writing and also needs frequent read access. Blockchain is also mentioned as a digital ledger in which transactions are recorded chronologically but such is an incomplete description. An analogy with the Internet (TCP/IP) can be drawn, because in both cases these are computer protocols underlying a decentralized infrastructure. The Internet transfers data packets from point A to point B, while the blockchain allows “trust” to be established between agents distinct from the system.

What is Blockchain Easy Explanation of Blockchain for Dummies

A blockchain network has no central authority, the information is open for anyone which makes the blockchain transparent and everyone accountable for their action. It can be thought of as pushing a project by multiple developers on GitHub as a public repository. The difference with any of our known systems on the internet is the protocol. Blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Blockchain transactions are free.

The different transactions recorded are grouped into blocks. After saving the recent transactions, a new block is generated and all the transactions will be validated by the miners, who will analyze the complete history of the blockchain. If the block is valid, it is time-stamped and added to the blockchain. The transactions it contains are then visible throughout the network. Once added to the chain, a block can no longer be modified or deleted (theoretically), which guarantees the authenticity and security of the network. Each block in the chain consists of the following elements:

Advertisement

---

  1. several transactions;
  2. a checksum (“hash”), used as identifier;
  3. the checksum of the previous block (except the first block in the chain, called the genesis block);
  4. a measure of the amount of work that was required to produce the block. This is defined by the consensus method used within the chain, such as “proof of work”, or “proof of participation”

Blockchain was invented to serve as the public transaction ledger of the cryptocurrency bitcoin. The bitcoin design has inspired other applications.

We are ending here as more on Blockchain will not be for the dummies.

Tagged With cloud and blockchain for dummies , public transaction ledger OR (public AROUND(20) transaction AROUND(20) ledger) , what is blockchain

This Article Has Been Shared 801 Times!

Facebook Twitter Pinterest

Abhishek Ghosh

About Abhishek Ghosh

Abhishek Ghosh is a Businessman, Surgeon, Author and Blogger. You can keep touch with him on Twitter - @AbhishekCTRL.

Here’s what we’ve got for you which might like :

Articles Related to What is Blockchain? Easy Explanation of Blockchain for Dummies

  • Install Apache SystemML Machine Learning System on Ubuntu

    Here is How To Install Apache SystemML Machine Learning System on Ubuntu 16.04. SystemML needs a minimum guidance to get started to use it.

  • Theoretical Foundations of Big Data : Part 2

    Theoretical Foundations of Big Data is second part of our series of articles. We have talked about data privacy & basics of data warehouse.

  • How To Process Healthcare Data in Hadoop, Pig (IBM Demo Cloud)

    Here is Basic Commends Showing How To Process Healthcare Data in Hadoop, Pig Using IBM Demo Cloud. Unlike server log, healthcare data lacks universal format.

  • How To Install PyTorch on Ubuntu 18.04 Server (Nvidia GPU)

    Here is Practical Guide On How To Install PyTorch on Ubuntu 18.04 Server With Nvidia GPU. Installation Is Not Even Closer To Difficult to Even a Beginner.

  • Influence of Digitalization on Marketing : Part II

    This is the continuation of first part of the series. A company can only be successful if it pursues clearly defined goals. The term goal is a desired result for the future. To be able to define a goal, it has to be analyzed where you are and where you want to go (e.g. increasing […]

Additionally, performing a search on this website can help you. Also, we have YouTube Videos.

Take The Conversation Further ...

We'd love to know your thoughts on this article.
Meet the Author over on Twitter to join the conversation right now!

If you want to Advertise on our Article or want a Sponsored Article, you are invited to Contact us.

Contact Us

Subscribe To Our Free Newsletter

Get new posts by email:

Please Confirm the Subscription When Approval Email Will Arrive in Your Email Inbox as Second Step.

Search this website…

 

Popular Articles

Our Homepage is best place to find popular articles!

Here Are Some Good to Read Articles :

  • Cloud Computing Service Models
  • What is Cloud Computing?
  • Cloud Computing and Social Networks in Mobile Space
  • ARM Processor Architecture
  • What Camera Mode to Choose
  • Indispensable MySQL queries for custom fields in WordPress
  • Windows 7 Speech Recognition Scripting Related Tutorials

Social Networks

  • Pinterest (24.3K Followers)
  • Twitter (5.8k Followers)
  • Facebook (5.7k Followers)
  • LinkedIn (3.7k Followers)
  • YouTube (1.3k Followers)
  • GitHub (Repository)
  • GitHub (Gists)
Looking to publish sponsored article on our website?

Contact us

Recent Posts

  • Advantages of Cloud Server Over Dedicated Server for Hosting WordPress March 26, 2023
  • Get Audiophile-Grade Music on Your Smartphone March 25, 2023
  • Simple Windows Security and Privacy Checklist for 2023 March 24, 2023
  • 7 Best Artificial Intelligence (AI) Software March 24, 2023
  • ESP32 Arduino Water Tank Level Monitoring Using Laser ToF Sensor March 23, 2023

About This Article

Cite this article as: Abhishek Ghosh, "What is Blockchain? Easy Explanation of Blockchain for Dummies," in The Customize Windows, March 29, 2019, March 27, 2023, https://thecustomizewindows.com/2019/03/what-is-blockchain-easy-explanation-of-blockchain-for-dummies/.

Source:The Customize Windows, JiMA.in

PC users can consult Corrine Chorney for Security.

Want to know more about us? Read Notability and Mentions & Our Setup.

Copyright © 2023 - The Customize Windows | dESIGNed by The Customize Windows

Copyright  · Privacy Policy  · Advertising Policy  · Terms of Service  · Refund Policy

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT