thesmallobject.com » An Introduction to Blockchain

Some of you may already know that blockchain is closely tied to Bitcoin, but the concept is more nuanced. However, I promise that by the time you finish reading this article, everything will become clear.

Imagine a digital journal that’s shared online by several students. That would be our ‘blockchain’. Each student can add entries to it, but only after they’re verified by all the other students. Then, the modified journal is copied onto every student’s computer.

Each newly added entry is a ‘block’, and each block is linked to the previous block, creating the blockchain.

Blocks are linked using ‘hashes’ - unique codes that make it virtually impossible for anyone to tamper with the stored information without being detected.

Here are some practical use cases. Blockchains can help ensure that the organic pizza you buy from the store is indeed organic. We could have blocks that follow the journey of each pizza ingredient from farm to table, for example.

What about elections? Blockchains can simplify the process by ensuring that each vote is recorded as a block, providing transparency and security.

In conclusion, blockchain is similar to a group of incorruptible notaries who work 24/7 to ensure information isn’t corrupted or tampered with.