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.
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”.