Blockchain Developer


Scattered Coins

What is Blockchain?

Blockchain is basically a digital ledger of transactions that is distributed with the entire network of computer systems and servers on the blockchain. Every block in the chain contains information on transactions made and every new transaction's information is added to each participant's ledger. The system uses an immutable cryptographic signature called a hash to record every transaction.


The key reason that organizations use blockchain technology, instead of other data stores, is to provide a guarantee of data integrity without relying on a central authority. This is called decentralized trust through reliable data.


The name blockchain comes from the fact that the data is stored in blocks, and each block is connected to the previous block, making up a chainlike structure. With blockchain technology, you can only add (append) new blocks to a blockchain. You can’t modify or delete any block after it gets added to the blockchain.



Algorithms that enforce the rules within a blockchain system. Once the participating parties set up rules for the blockchain, the consensus algorithm ensures that those rules are followed.


Benefits of Blockchain

One Coin


1) Establishes trust among parties doing business together by offering reliable shared data

2)  Eliminates siloed data by integrating data into one system through a distributed ledger shared within a network that permissioned parties can access

3)Offers a high level of security for data

4)Reduces the need for third-party intermediaries

5)Creates real-time, tamper-evident records that can be shared among all participants