The origin of Blockchain is closely associated with the advent of financial instruments. It revolves around the basic idea that if you are about to conduct a financial transaction online, specifically at the time of trading, you need to ensure that your data for that transaction is secured.
Let’s take an example of your average trip to the bank, where no one would want their account number or pin code to be known to everyone who is walking around. Similarly, Blockchain is a tool that prevents your data to be shared with anyone irrelevant. It keeps all of your information well-guarded, so no breaches happen. If you are looking for more information about blockchain technology then you can visit https://applicature.com/.
To explain it a bit technically, Blockchain technology holds information of all the transactions that take place in the cryptocurrency realm. Blockchain, just as the name suggests, is the chain of blocks where the blocks hold the information about the transaction that has taken place and determine the digital information and chains determine the public database.
At the time of the transaction, a blockchain holds information about the date and time of that particular transaction along with the total amount spent. For each transaction, there is a separate block and what distinguishes each block from one another is the information that is stored in it. When a new block is created, it is verified by thousands of other blocks across the internet and obviously, to carry this out, a high-speed internet connection is required.