The blockchain

Just like the name suggests, a blockchain consists of multiple blocks that are strung together.

The main difference with a database, is that each computer in the blockchain network will have its own copy of the blockchain.

Everyone can setup a node and store a copy of a blockchain on a computer so there may be thousands or even millions of copies of the same blockchain.

This is a blockchain network.

For this reason the blockchain is associated with the word “decentralized”, as opposed to the traditional concept of web, where data and application are stored on servers controlled by someone, defined as “centralized”.

Blocks in the chain are made up of digital information and they store information such as amount, time, date, and who participated in the transactions.

When a block stores new data, it can be added it to the chain, and as consequence to the network, after a validation process.