Distributed Ledger Technology or rather Blockchain technology, is becoming the new norm of techies. So what exactly is Blockchain technology? Blockchain technology simply refers to a database. However, it has several points of differences that make it different from nominal databases. Let’s get into those facts next.
Data structuring is different in normal databases and blockchain technology. The structuring format of blockchains is entirely different from existing databases. The data chucks where data storage occurs form connective links. Yes, you guessed it right! That’s where blockchain technology gets its name from.
Blockchain also adopts decentralization in its processes. This is actually helpful during the event of data tampering. The interconnected blockchains cross-reference each other to supplicate lost or missing data. Bitcoin uses blockchain and relies on this specific feature of blockchain technology to make things work.
Due to its decentralized characteristic, the processes of blockchain technology is intrinsically transparent. With blockchain explorers, connected chains can view each other’s processes. Now, that makes one wonder about the security aspect of Blockchain. Well, blockchain is secure from hackers or other cyber criminals due to its interconnectivity. A hacker who attempts to tamper with information will have to attempt the same with all blocks encoded in the chain. Else, the version he has tampered with will stand out.