Blockchain is an interconnected chain of virtual files that allows you to exchange and save information in a decentralized and secure way. Its structure makes it resistant to alterations and protects information through cryptography.
The virtual files in this chain are called blocks and these contain:
- Data or information to be exchanged (for example, documents, cryptocurrencies, and virtual contracts).
- An identification code of the sender and another of the receiver, also known as HASH.
- data or validated information of the past blocks.
Its decentralized nature allows exchanges to be carried out without the need for intermediaries such as banks, accountants, or governments allowing the creation of a collective register through the internet and a direct exchange from person to person. Within this chain, each block has a specific and immovable place that is obtained according to the records that are made in them. Each operation is performed in seconds and is linked to others previously created by creating links in the blockchain. This later becomes a series of networks that protect and share information through computers distributed in various places.
The information within each block cannot be altered and modified by the chronological order that is created through the hash. Each new record must be confirmed and verified by the computers and people participating in the exchange creating a consensus established between the parties involved.