Blockchain

• What is the blockchain 


  A series of blocks. Of information about transactions made
• What information is included in each block 


  • The two people involved in the transaction
  • A timestamp of when the transaction occured
• The Blockchiain is distrusted ledger what does the term ledger mean. 


  • A public record so can be downloaded and viewed by anyone
• What does the term distributed mean 


  There are many copies and no central authority
• How does this prevent fraud.


  If it occurs the incorrect trnasaction would be spotted as it would disagree with all the other ledgers on the network
• Describe how the blockchain prevents transactions being altered


  • the blockchain is a digital ledger
  • has time stamped record
  • Each blockchain features the sender and receiver
  • Every block links back to the previous block
  • All digital currency ever created is able to be tracked