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Danny

What is a blockchain in cryptocurrencies?

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Hi Danny,

Blockchain is most popular in the cryptocurrency world. It is the technology that helps to keep records of the transactions that take place with cryptocurrencies.
A blockchain is a digital information that is stored in a public database (public ledger). The digital data is in the form of blocks and where the information is kept in the chains. Hence the name blockchain.
In cryptocurrencies, the blocks store information about the crypto transactions and the identities of people taking part in those transactions. 
As the name suggests, blockchain is made up of many blocks put together. For a block of a cryptocurrency to be included in the blockchain, a transaction has to occur. The transaction also needs to be verified.
In cryptocurrencies, the identity of the person taking part in a certain transaction is not shown; this is however, not the case in other platforms that use blockchains.
 

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