What Is Blockchain?

We all heard about Blockchain once but we all dont know actually that what is blockchain and how does it works?
so today i will give you a basic knowledge about blockchain.
A blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions. Blockchain was invented by Satoshi Nakamoto in 2008 for use in the cryptocurrency bitcoin, as its public transaction ledger. The invention of the blockchain for bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server. The best thing is using blockchain that all the information on thus network is transparent , means anyone can see that complete information which is uploaded on blockchain network. nformation on the blockchain is also publicly available. It’s decentralized, meaning it doesn’t rely on a single computer or server to function. So any transactions are instantly visible to everyone. That brings us to our first metaphor: the public ledger.

How Does Blockchain Work?

In the language of cryptocurrency, a block is a record of new transactions (that could mean the location of cryptocurrency, or medical data, or even voting records). Once each block is completed it’s added to the chain, creating a chain of blocks: a blockchain.
Because cryptocurrencies are encrypted, processing any transactions means solving complicated math problems (and these problems become more difficult over time as the blockchain grows). People who solve these equations are rewarded with cryptocurrency in a process called “mining.” Using cryptography to keep exchanges secure, blockchain provides a decentralized database, or “digital ledger”, of transactions that everyone on the network can see. This network is essentially a chain of computers that must all approve an exchange before it can be verified and recorded. thats what blockchain do.

Things you can do with a blockchain
There are unlimited benefits of Blockchain Technology that can be used in our daily.But the main benefit are like

Decentralization ;
This is a core concept and benefit of blockchain. There is no need for a trusted third party or intermediary to validate transactions; instead a consensus mechanism is used to agree on the validity of transactions.

Transparency and trust ;
As blockchains are shared and everyone can see what is on the blockchain, this allows the system to be transparent and as a result trust is established.

Highly secure ;
All transactions on a blockchain are cryptographically secured and provide integrity.

Faster dealings ;
In the financial industry, especially in post-trade settlement functions, blockchain can play a vital role by allowing the quicker settlement of trades as it does not require a lengthy process of verification, reconciliation, and clearance because a single version of agreed upon data is already available on a shared ledger between financial organizations.

Cost saving ;
As no third party or clearing houses are required in the blockchain model, this can massively eliminate overhead costs in the form of fees that are paid to clearing houses or trusted third parties.

And many more useful benefits of Blockchain Technology that can be used to grow fast. Most of the countries like U.S , Japan etc accepting Blockchain Technology as they understanding the importance of Blockchain Technology. Blockchain Technology is the future of the world.
what is your opinion about Blockchain Technology ? Tell me in the comment box...

thanks
@mubbu