MLH INIT Blockchain

Blockchain.txt

### Blockchain

There is a great hype about Bitcoin around the world. The main technology that is operating behind Bitcoin is Blockchain. 
We can consider Blockchain as series of connected blocks that are used to mine currencies which are not tangible and are in the form of digital.
Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.

I hope everyone have heard of a data structure called Linked List. Okay if you havent I will tell you.

Linked List is basically containers connected with each other such that each container have two values, one is the adress of previous block and other is the value stored in that block. 
This way the series continues. Now if we want to tamper the value in middle, we have to go through all the blocks that take me up to that because the adress of that block is not available.

Similarly blockchain stores information in a linked manner and it becomes difficult for hackers totamper any particular block without disturbing others.

Then why the hype around Blockchain
Blockchain is different because nobody is in charge; it’s run by the people who use it. What’s more, bitcoins can’t be faked, hacked or double spent – so people that own this money can trust that it has some value.

Block chain is like a SQL database but a bit different in terms of secutiy and anonimity.

Hope you have got some basic knowledge on this buzzing topic.

Happy Reading!!!