Blockchain Demystified

A blockchain is a digital ledger of records represented by hash which is generated using some hashing algorithm like SHA 256.┬áBlockchain is a chain of blocks where every block has a reference to previous block through a hash. In the figure above: T1, T2 etc are transactions or payload (transactions are also hashed) H(T1, T2) is the hash of child nodes   Any addition of record to the digital ledger requires approval of the network. For a block to be …