What is Blockchain in simple words?
Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.
How blockchain work…
A Blockchain is a file containing information about transactions. Each transaction generates a hash. Each block refers to the previous block and together make the Blockchain. A Blockchain is effective as it is spread over many computers, each of which have a copy of the Blockchain.