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What is Blockchain Technology

Blockchain technology is a system, a database, that allows recording and tracking the transaction of some types of information over the internet, such as cryptocurrencies, and is accessible to everyone.

Data is stored in blocks, chronologically, that link to the previous block, creating a chain of information and data. From the moment the transaction is validated, it is registered in the system and, consequently, becomes immutable.

This network is decentralized, so instead of a single computer storing all the data, it is distributed among all the computers connected to the blockchain.

Each block on the network is made up of information from transactions carried out in that period of time, such as the people involved or the amount, all in an encrypted form, and has a hash, as if it were a digital signature. This hash is the link between the blocks, as all blocks have their own hash and the hash of the previous block.

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