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What Is Blockchain?

Updated at: Jun 20, 2020 GMT+08:00

A blockchain is a decentralized and immutable distributed ledger, which does not require trust between participants to carry out transactions.

It can be regarded as a distributed database where data is almost impossible to change. Data is distributed to store and record and maintained by all blockchain participants.

Trust can be built among participants thanks to the blockchain technology. The participants in a blockchain consortium are connected to build a peer-to-peer value transfer network. That is why blockchain is recognized as a trust creator and cornerstone of the Internet of Value. It will offer great opportunities as well as huge challenges to the financial industry and even the whole society.

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