Introduction

A block in a blockchain is a group or collection of information. The information is added to the block in a blockchain, by connecting it with other blocks in the chronological order and creating a chain of blocks linked together. Let’s take the example of Google spreadsheet or MS Excel (Windows). This spreadsheet is shared among different computer networks, where everyone has a copy. The spreadsheet contains data and information of transactions made by individuals. Anyone with a copy can access that spreadsheet but no one can edit or change it. This is how the blockchain works. It uses blocks, whereas spreadsheet works with “rows” and “columns”.

The blockchain is a distributed ledger. This means that a ledger is spread across the network between all peers in the network, and each peer holds a copy of the complete ledger. Some key properties that make blockchain far superior and better than the traditional system of information ledgering.