Blockchain

A blockchain is a often called a chain of blocks.

Block

A block is a packet or container of information, specifically information which is a record of transaction.

• The amount of transactions it can hold is limited by it’s size.
• When it is full, another block is created to hold the packets of information which are the next transactions.

Ledger

A blockchain is sometimes called a ledger, as in record of transactions.

Immutable

source

A blockchain is suppose to be immutable, meaning that the transactions are recorded as they happen, and they can never be changed.

Undisputable

A blockchain is an undisputable record of transactions because the transaction is the record. The same process the transfers tokens from one place to another, is also the record of that movement. Therefore the record becomes undisputable because the record of transactions triggers the transactions, so they are one.

Distributed

A blockchain is a ledger, or record of transactions which is held by thousands of computers all connected by the internet and running the same blockchain or ledger of transactions, so that at any time there are thousands of identical copies of the ledger or record of transactions. piece of software.

Decentralized

Centralized means all records are in one or a few places.

• So a centralized record means there is only one or two copies, which are kept one place.
• Decentralized is the opposite, and in the context of a ledger or blockchain, accurate mirror copies of the ledger are all over the planet.
• Decentralized means it’s very difficult to control the ledger because the copies are all over the globe, and through their internet connection, they communicate and make sure each copy is the same.
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