Blockchain technology is a decentralized data storage where data is stored as a combined set of blocks. A typical blockchain transaction between two parties would look like this:
Transaction from part A to B is added to an online transaction ledger that’s encrypted with the maximum digital security code —-> then this encrypted code is sent to a large decentralized network where it gets confirmed without compromising sensitive information of the two parties —-> once this’s validated and confirmed by many parties on the network, then it exits the ledger of each as a parmanent and immutable record of transactions and the process gets completed. To simplify and summarize it, the whole process of Blochchain technology can be seen as follows:
Encryption—> Validation/Proof of concept —>>Distribution
