Blockchain Technology

“Imagine a book where you write down everything you spend money on each day. Each page is similar to a block, and the entire book, a group of pages, is a blockchain.” says Buchi Okoro

A blockchain is a code-based open ledger that records transactions. Open meaning public. Think of a blockchain as a digital checkbook in that it is distributed across numerous computers around the world. Blocks are added to a chain of previous cryptocurrency transactions to record new transactions. 

Every account that utilises a cryptocurrency has its own copy of this book to maintain a identical transaction record. Every new transaction is recorded as it occurs, and every blockchain copy is updated with the new transactions, verifying accuraccy.