Blockchain Unleashed

If, by some chance, you were stranded on a deserted island or holed up in a monastery for the last decade or so, you might not have heard the term “blockchain.” Anyone who has had access to the internet over the last two or three years, however, will have heard of it by now. Understanding Blockchain Having heard of it and understanding how it works are two very different things. If you are a little lost in this area, don’t feel alone. It is a revolutionary concept. It works on a principle very similar to that old adage, “Don’t keep all your eggs in one basket,” except that here the “eggs” refer to data. In fundamental terms, blockchain tech allows data to be stored across a network of computers. The system uses some of the memory and computing power of the computers within the network. That makes it possible for it to run without the need for a single central body controlling everything. It also provides a backup of a sort. If any of the computers in the network goes down, the others can bear the load. Even if most of the computers were offline, the system would still be…