Blockchain is a system of recording information in a manner that makes it difficult or impossible to change, hack, or cheat the system. Blockchain is a type of Distributed Ledger Technology (DLT) in which transactions are recorded digitally and shared within a distributed network.
It’s a de-centralised system which is secure, irreversible, maintains permanent record of data, mining fees paid to miners, and extends autonomy to the participants. It is being used across industries.
Blockchain technology enables everyone involved in a transaction to know with certainty what happened, when it happened, and confirm other parties are seeing the same thing without the need for an intermediary providing assurance, and without a need to reconcile data afterwards.
Know how it works at the 3.0 University.