๐ฅ Crypto Knowledge Series โ Part 3: How Blockchain Works ๐
Ever wondered how Bitcoin and other cryptocurrencies stay secure without banks or intermediaries? ๐ค
The answer lies in the Blockchain โ the digital backbone of crypto.
๐ก What is Blockchain?
Itโs a chain of digital blocks, where each block contains a list of verified transactions.
Once a block is filled, itโs linked to the previous one โ forming a chain that canโt be changed or hacked easily.
โ๏ธ How It Works:
1๏ธโฃ Transaction Created: You send or receive crypto.
2๏ธโฃ Verification: A network of computers (nodes) confirms itโs valid.
3๏ธโฃ Block Added: The verified data joins the chain permanently.
4๏ธโฃ Transparency: Everyone can see it, but no one can alter it.
๐ก๏ธ Why Itโs Powerful:
Impossible to fake or double-spend ๐ธ
Fully transparent and secure ๐
Removes need for a central authority ๐ฆ
๐ In short, blockchain is trust built by technology โ not by institutions.
#KnowledgeFi ---