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What is Blockchain Technology

What is Blockchain? The Blockchain is a new way to store and record transactions. It’s very much like a traditional database but the blocks are linked together cryptographically in order to make sure that they are temper proofed. Blockchain technology was invented in 2008 to create a digital currency . Each block in a Blockchain is computer code containing some form of information such as a contract, certificate of ownership, a statement forth entity or proof of a bank financial transaction but each block of information in this computer database is securely connected or chained to the other through a digital signature . If you trying to send money to relatives it can take three-five sometimes more days to move the money and because we have to very certain about where is the money gone to before technology didn’t allow to do that quickly and cheaply. With this technology, it would be faster, cheaper and would be more secure. As new information is added, the length an