Explainer

Blockchain Blockchain is the name of the technology that powers cryptocurrencies such as Bitcoin and Ethereum, as well as other crypto networks. The most common use so far has been storage and distribution of transaction data but other data sets can also be used. Blockchain is a digital ledger that records, duplicates, and distributes transaction data originating on it. In India, the technology is used in areas such as banking, financial services, insurance, land title registration, vehicle lifecycle management, health record management and more. What Is Blockchain? Blockchain is a decentralised digital electronic ledger that records every data set originating from its network. These data sets can be distributed among participating users’ computers, which are referred to as data nodes. This distributable electronic ledger duplicates and adds a data entry each time a new one...