What is Blockchain Technology?

EkinEser
3 min readJan 28, 2022

Blockchain can be described as a public notebook of information or data collected over a network on the Internet. The groundbreaking potential of Blockchain is the technology that it uses to record this data or information given to it. At the heart of the Blockchain is a chain reaction operating system, as the name indicates. This technology, which is referred to as the “blockchain”, is based on a combination of encrypted data, like chain rings, in a form of unchangeable blocks, in a static and dynamic pattern, in internal access. The blockchain is not a company, nor is it connected to a company or center. It can’t be seen as an app or just a simple logic-written programming product. On the contrary, it is a completely new science and mathematics that is used to document data on the Internet. Blockchain applications can be developed and used for technological social networks, news systems or communications tools, games, shopping malls or e-commerce sites, storage platforms, cloud and database systems, voting systems, forecasting programs, online stores, and more.

Blockchain

These applications need machines we call “nodes” to create a network. In this sense, inter is similar to the internet, and so some professional entrepreneurs have called it “Internet 4.0” or “Web 4.0”. The information or data recorded in the blockchain is designed to calculate how much electricity a refrigerator uses, including money transfer, property rights, a transaction arrangement, the concealment of a person’s identity, an agreement or agreement agreement agreement between the two parties, and it has a concept that works that way. The blockchain is not just a technology that can be used for crypto money, but there can be hundreds, thousands, even tens of thousands of places in every aspect of our lives that will contribute to us. However, to do so, it is necessary to obtain approval from various devices through computers on the network. As I will point out later in the book, there is a special algorithm between these devices to store things in the blockchain. There are transaction requirements, also known as a memorandum of understanding, after reaching a reconciliation protocol, it is undisputed to be where it is. It cannot be objected, removed or modified without the information and permission of the registrers. It stays where it is as permanent and pure information.

Important Crypto money Warning: Nothing recorded in the block chain can be changed, so when you send money within this technology, you need to be 100 percent sure of the person, address, and unit you send. You must remember that you are satisfied with the person, quantity and unit you are sending. In the block chain, it is sealed after a transaction is sent and cannot be reversed, so it is never possible to return. You must be very careful not to lose the deposits you have sent.

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