Blockchain technology is rapidly gaining ground due to its unique features such as transparency, immutability (decentralization), traceability, and decentralization. All levels of society have spent money and allocated resources to study how blockchain could revolutionize the computing paradigm. The distributed ledger model of blockchain makes it more secure and resilient than centralized models. Do you have a basic understanding of blockchain? Can you explain how it works, the problems it can solve, and how it is used? What is Blockchain? A blockchain is a collection of blocks that include timestamped digital records. The technique was originally presented by a group research team in 1991. It was designed to timestamp digital files so that they could not be tampered with or backdated. It was abandoned until Satoshi Nakamoto revived its concept in 2009, to create Bitcoin. It is a distributed ledger that stores digital records and distributes them across all nodes. Every node ...