What Is Blockchain?

by Travis Scott Lee

Every day, I hear blockchain this, blockchain that, but what is blockchain. New crytocurrencies popping up here and there as the best new investment vehicle, blockchain is increasing more in popularity. According to Euromoney.com, blockchain a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems. Each block in the chain contains a number of transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participant’s ledger. Blockchain is a type of DLT in which transactions are recorded with an immutable cryptographic signature. But why is it so popular? Well as more and more people create cryptocurrencies, they need a database where they can safely store and record such currencies. With Blockchain, no one single person is in charge of the database, everyone who uses it is in charge of the Blockchain.