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What Is Blockchain Technology?



To keep things very basic, blockchain is essentially an enormous database or ledger that stores information electronically in digital format. It is a decentralized, peer-to-peer (P2P) network, which means no one person or entity controls it. Unlike the current system, which is controlled by the government and the banks (centralized agencies). It is shared among the nodes of a computer network, and all users help manage information flow, and once new data has been added to the blockchain, no one can alter it.


Blockchain systems can be public or private. Data is added in blocks and once complete, users’ computers complete math equations calling 'mining,' which checks and confirms that all data is correct and that verified blocks are chained to the previous data.


A main benefit of blockchain technology is that when Bitcoin and other cryptocurrencies, which are created and sent on the blockchain through codes (via mining), the codes cannot be modified. Blockchain is associated with Bitcoin as it is one of the key technologies Bitcoin utilizes, however there are endless uses for blockchain technology.


 

About Ashley Mosaic: Performance coach that created a practice utilizing astrology and human design, founder of kindness initiative KindaKind, and blockchain advocate. I'm passionate about blockchain and Web3, including the positive change and social impact blockchain technology can have on the world, and helping to educate and onboard people in order to align with the available prosperity and future trends. I have unending faith in the good of humanity and I'm here to shine a light and show people the way forward.