Forums

In simple terms, a Blockchain is a chain of interconnected blocks of information that is written in an encrypted form and maintained as a transaction ledger on a network of connected computers. Any information written on this ledger has to be agreed through a consensus mechanism. To be valid, each block contains a reference to the previous block to form a chain of information stored in blocks. This can also be done manually without using computers. Stripped to its core, blockchain is really just a sophisticated ledger system. People can take responsibilities to duly update and maintain copies of a ledger in their custody, based on an agreed set of rules to reach consensus about what and how to record the information.