Blockchain is a secure series or chain of timestamped records stored in a database that a group of users manages who are a part of a decentralized network. Blockchain is a decentralized or distributed ledger where each node in the network has access to the data or records stored in a blockchain. The encryption of all the important data records in the blockchain is done using cryptographic techniques. This ensures the security of the data in the blockchain.
So, the primary concept behind blockchain technology is having a network of multiple users or computers known as “Nodes” which can have secure and legitimate transactions directly without a third-party mediator. Any authorized node that is a part of the network can access the set of records added as a legitimate block in the blockchain. This makes the blockchain system an immutable, distributed digital public ledger that can record financial as well as other types of transactions. In the sections to follow, we will learn in detail how does blockchain work but before that lets check the history of technology in the blockchain tutorial.