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  • Writer's pictureMichael Paulyn

Blockchain FAQs: Getting Back to the Basics Part 1

Updated: Oct 21, 2023

As the world becomes increasingly obsessed with blockchain, have you stopped wondering how it works? Blockchain technology is changing the world as we know it right before our eyes, and it can be easy to get caught up in all the excitement.

What Is a Blockchain?

Blockchain technology is an electronic database that records information spread across many computer systems, also known as nodes. The report, held across many computer systems, is stored in sets or chunks of information forming blocks.

Each new block is then added to older blocks of information, creating a chain strung together. This information creates a historical timeline of transactions that can't be tampered with, essentially setting it in stone forever.

For blockchain, the goal is simple: record and distribute digital data but make editing impossible. The part that makes blockchain so revolutionary is the stored records (also known as distributed ledger technology (DLT)) that can't be manipulated, deleted, or changed.

What Is Blockchain Software?

Blockchain software is what it sounds like, which works off open-source software and is available to anyone and everyone with a computer. Officially, blockchain software is known as "a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network."

Hungry for more? Join me each week, where I'll break down complex topics and dissect the latest news within the cybersecurity industry and blockchain ecosystem, simplifying the world of tech.

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