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  2. What is blockchain

What is blockchain? Blockchain is a register of blocks containing information about transactions.

Bitcoins blockchain consists of 693,049 blocks. There are approximately 4,000 transactions in each block.

The history of Blockchain begins in 1991, when cryptographically secured block strings were used to protect digital data.

Applications for Blockchain include modern voting systems, asset exchange without intermediaries or secure data storage.

Comparison of Ethereum, Bitcoin and Litecoin Blockchains.

Bitcoin Blockchain transactions can be divided into 4 steps. Finally, after transferring funds from the wallet, the entry appears in the block, signed with a hash.

The advantages of Blockchain technology are high security, irreversibility and uneditability of information from the past and the possibility of creating smart contracts.