Understanding Blockchain Technology And How It Works (for beginners) Part 3

in LeoFinance4 years ago

blockchain3019120_1920.png
Pixabay

Blockchain seems complicated, and it definitely can be, but its core concept is really quite simple. A blockchain is a type of database. To be able to understand what blockchain is and its database as well, you need to first understand what a database actually is.

A database can be described as a collection of data and information that is electronically stored on a Computer. The information stored in this database is normally integrated into a table format so as to make it easier when filtering and searching for particular information.


Many might say, Spreadsheets and databases are the same. Hold on, I'll explain further.

Unlike a database, Spreadsheets are specifically designed for a small group of people or one person as the case may be. Since they are not designed for a large audience, they can only store and access limited information and data. Conversely, a database is specifically designed to accommodate a larger amount of information that can be filtered, accessed, and handled by a larger audience at once.

However, for a large database to achieve this goal, it needs to be operated from servers made of powerful computers. This isn't an easy thing, most times these servers are built using hundreds of computers in an attempt to have the computational storage and power capacity needed for a large audience to access the database at the same time.

If you find this interesting and useful please feel free to upvote and reblog ;)

Disclaimer: Trading cryptocurrencies carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from an independent financial advisor. ICO's, IEO's, STO's and any other form of the offering will not guarantee a return on your investment.

References: 1, 2, and 3.

Posted Using LeoFinance Beta

Sort:  

Congratulations @crypto-fanatic! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You received more than 10 HP as payout for your posts and comments.
Your next payout target is 50 HP.
The unit is Hive Power equivalent because your rewards can be split into HP and HBD

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Check out the last post from @hivebuzz:

A successful meetup and its commemorative badge