In layman’s terms, blockchain is a kind of database that stores information in a database that is not centralized but instead distributed across a network of computers.
This database cannot be tampered with as each block of data is linked to the next one. In the financial market, blockchain allows for quicker and more secure transactions.
Blockchain goes beyond the financial sphere and can be applied wherever information needs to be securely stored.
Blockchain is a decentralized electronic ledger system where presences, transactions, and succession are securely recorded.
Blockchains are protected by the cohesive processing power of the remote systems.
Blockchain can be used to store, move, and withdraw so it is different than banks but the records are validated by hubs.