An Overview Of Blockchain

Blockchains are very popular nowadays, but many of us have a misconception that blockchain is related to cryptocurrency. That’s not true, blockchains are not scoped as cryptocurrencies but it’s far beyond that.

So, let us go ahead and have a look at what exactly a blockchain is, how do they work, what problems they solve, and and how they can be used.

Blockchain

As the name indicates [Block-chain] it can be referred to as a chain of multiple blocks in which blocks contain some information.  Blockchain came into existence in the year 1991 by a group of researchers and was developed to timestamp digital documents so that no one can tamper with the data or make it backdated like a notary, but that feature was not used at that time. Then in 2009 “Satoshi Nakamoto” used the same to create a digital cryptocurrency “BitCoin”.

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