What Is Blockchain? — An Introduction
What is Blockchain?
Blockchain technology is becoming a game-changer for many industries, in part, for its security and transparency features. But first… what is blockchain?
A blockchain is a registry of data that acts as a decentralized ledger shared among various computers or “nodes” to reliably and securely record transactions. So, the information of the transactions will register into a blockchain as “blocks” of data. Then, these blocks will connect chronologically, forming some kind of “chain.”
The security and trustworthiness of this technology lean mostly on its decentralization attributes. Each one of the nodes in a network contains a copy of this ledger. The nodes must verify and validate each transaction before it appends to the chain.
EOS Costa Rica operates since 2018. Our team develops blockchain-based solutions with great attention to detail in creating user-centered dapps for enterprise use.
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TL;DR
Blockchain technology offers improved security, transparency, privacy, traceability, and efficiency to companies and organizations.
A blockchain acts as a distributed ledger of information shared by a network of trusted computers that validate each new transaction before adding it to the registry. This “chain” of data can only grow in size, meaning that to amend a record, a user must request a new transaction. This makes data in a blockchain practically unalterable and avoids human error when recording transactions.
Some use cases of this technology are:
- Securely and privately registering enterprise data. Check this out here.
- Improving traceability across supply chains. Read more here.
- Increasing transparency and efficiency in governments and displaying open data.
