Securing data in the online world has become a challenging task these days. Many organizations transfer sensitive data through the Internet or devices while doing business, and there’s a doubt whether the data being transferred through the Internet is secure. No worries. With Blockchain technology, it is possible to secure the organization’s data. Blockchain resolves the data security problem and ensures all digital data is transferred securely across the websites.

What is Blockchain Technology?

Blockchain is a type of register that stores and maintains transaction records. It stores the information in regular batches called blocks that link together to form a continuous chain. The data contained in each block is stored with a valid transaction as a block. These blocks are connected to the batches that grow as a new block of information is added.

How does it work?

A blockchain is a system that shares the data blocks with all the members linked in a chain created over the network. Each block contains the previous block’s hash, followed to develop a growing transaction history. Any tampering with a block will lead to rejection by the network community, reducing the chances of hacking into the network. 

Blockchain is meant to be decentralized and distributed through a massive network of computers, and it overcomes the ability to tamper with data in the network. Blockchain technology is widely used in many organizations to secure data records, banks, healthcare, supply chains, smart contracts, elections, cryptocurrency, etc. As a result, Blockchain helps reject unauthorized entry into the network or the community and provides more security to the data.