This article is not for blockbuster gurus. It is more for non-technical people who are trying to understand the main principles of blockbank in plain English.
Blockchain
Blockchain is known as a new data-storage technology. It is like a global distributed account holder who keeps information about transactions, contracts and other data. The main idea is that this database is not kept in the same place, but it is spread across blockbars connected to all users' devices around the world.
Simply put, each user has a personal copy of the encrypted laser. This database contains all the history of transactions such as how many coins and when were sent. The account holder does not know the actual names of the users only about the data about the transaction. To keep the data authentic, all the copies of all users are being synchronized and updated. Therefore, if a hacker decides to change the account holder, then it will not be possible because the copy of his fraud will be different from the copies of other users.
Why the word "blockchain"? Technically, this is a series of blocks in a computer code. Each block stores data about specific tasks. Here's an example of how the process works in bittoine.
Each block can have 5000 transactions. The block is being created block by block and it can not be changed, removed or hacked easily. All data is decentralized.
To participate in Blockchain, you must have a computing device with the mining software installed. Your device will be used for processing transactions, and you will be called a miner. Without miners and computer resources, the system can not work.