Work of blockchain in cryptocurrency
is a type of participating database that stores information differently than a traditional database.
A blockchain is a type of participating database that stores information differently than a traditional database.
When a data block is filled, it is concatenated with the previous data block, and the data is concatenated in chronological order.
A blockchain can store various types of data, but the most common application has been as a deal tally.
In the case of cryptocurrency, the blockchain is used in a decentralized way,
It cannot be controlled by one individual or group, but it can be controlled, by all users.
Decentralized blockchain is inflexible and data entered cannot be restored.
This means that cryptocurrency transactions are permanently recorded and can be viewed by anyone.
As we know it today, blocks in the cryptocurrency blockchain store data about currency transactions.
Consider a chain that could be used to secure a ship. However, in this case, each link in the chain is a block of data containing cryptocurrency transaction data.
Due to the cryptographic nature of these networks, blockchain payments are more secure than traditional debit/credit card transactions.