Well if you're here then you either a steemit member or someone who's got here searching for some extra money using the cryptocurrency but either way, I'm sure you heard of the blockchain right! The technology that power all the cryptocurrency including steem and bitcoin! Knowing this you probably tried to gain some knowledge of it and how it works! Don't worry I've got your back in this part cause I'm here today writing this post to make thing as easy as I could so everyone could understand the Blockchain!
Just bear in mind that this is only a small introduction not a technical or in depth explanation! I'll probably be doing those later for more advanced post about blockchain.
So! What is blockchain?
As the name suggest it's a chain of blocks :) Well obviously that's not all to it! those blocks contains transactions information and they are stored in many locations or technically speaking nodes, and like any chain, they are related to each other by what it is called a hash, the hash is derived from the content of the block and it is meant to be unique, it is also included in the next block so they can be bound together, so!! let's say this again together! the blockchain is a chain of blocks stored in many nodes, bound together by hashs and that's it ? well of course not! that's just a simplification of the process!
What is a node?
it's simply a computer or a server (or IOT devices as shown recently) connected to the blockchain network using a client that performs the task of validating and relaying transactions, it has to get a copy of the blockchain database called ledger (it gets downloaded automatically upon joining the blockchain network).
how does it works?
Well easy, new transaction arrive to the blockchain network, the first node who performs the task of validation and relaying get the rewards :)
How does we ensure the safety of the information if it's existing in many nodes ?
That is exactly the point of creating the blockchain, creating a decentralizing environment!! the information exist in many nodes so no one control those information, and when it come to putting a new transaction into the blockchain network, it needs to be verified by everyone so no one can change it! The only possible way to corrupt or tamper with the information inside the blockchain is to change that information in all nodes in the network which is a little hard , so yes, no one can manipulate it :)
So that it for now, I hope everyone at least understood the idea of the blockchain and what it’s meant, this little post didn’t include so many technical words and knowledge in purpose so anyone and everyone will understood it but I possibly will create others with many more information :) so be tuned!