Module 1: What is blockchain and how does it work?

In this module, you will learn general information about blockchain, understand the principles of the technology, and also become familiar with the structure and main components of blockchain.

Summary

Blockchain is a way of storing information that is placed in blocks.

The blocks are connected to each other using a hash calculated based on the data in the block. If information in a block is changed, the hash will change, and the connection will be broken. Therefore, in blockchain, data can only be added, not deleted or changed.

Advanced blockchains are decentralized and maintained by participants who store copies of the blockchain and verify them when forming blocks.

Blockchain provides excellent protection of information from both malicious actors and accidental hardware failures.