Share This Post
If you’re new to the world of blockchain, the concepts of ledgers, transactions, and records can seem a bit confusing. But don’t worry! In this article, we’ll break down these three important concepts and show you how they work together to create a secure and reliable blockchain.
A ledger is a database that stores all of the information about a blockchain. This includes information about each transaction that has ever been made on the blockchain.
Transactions are the individual units of data that are stored in a blockchain. Each transaction contains information about the sender, receiver, and amount of data that was transferred.
Records are the individual pieces of information that are stored in a transaction. Each record contains a piece of data that is used to validate the transaction. For example, a record might contain the sender’s address, the receiver’s address, and the amount of data that was transferred.
Ledgers, transactions, and records are the three essential components of a blockchain. Together, they form a secure and reliable system for storing and managing data.
We hope that with this simple introduction will give you a better idea of the Blockchain concept!
What other true facts do you like? Follow me for world class facts you didn’t know!
This post is contributed by: Jerry Lim
