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Bitcoin is the world’s first cryptocurrency
It was Bitcoin that became the first currency that solved the problem of double payments. And blockchain technology has become the basis for the rapid growth in the popularity of cryptocurrencies. The security of this principle is ensured by the decentralization of the database server.
This server is not one computer, but the entire mass of devices involved in the system. And it is this server that puts labels and digital signatures on each block of data and network connection.
Thus, a blockchain is a sequence of blocks of transactions, which is regulated by a trust protocol. It should also be said that the database itself is not just a store of information, it is a store of events, information about which cannot be changed.
Here’s what blockchain is in layman’s terms. This is a trusted protocol that does not allow duplication of data, as well as their distortion.