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YOUR PURSUIT OF PURPOSE
Welcome to YourPOP, the Your Pursuit of Purpose podcast. This is a platform for underrepresented and underprivileged to speak on their successes, excellence, and overcoming adversity.
WHAT IS A BLOCKCHAIN?
A blockchain is a distributed database that is shared among the nodes of a computer network. As a database, a blockchain stores information electronically in digital format. Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions. The innovation with a blockchain is that it guarantees the fidelity and security of a record of data and generates trust without the need for a trusted third party.
HOW DOES A BLOCKCHAIN WORK?
The goal of blockchain is to allow digital information to be recorded and distributed, but not edited. In this way, a blockchain is the foundation for immutable ledgers, or records of transactions that cannot be altered, deleted, or destroyed. This is why blockchains are also known as a distributed ledger technology (DLT).
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