Foundations of Blockchain

What blockchain is

Although blockchain has a variety of definitions, a blockchain can best be described as a data structure of blocks that are chained together to form a collection of records, called a ledger, with cryptography being a key ingredient in the process. A blockchain doesn't have a storage mechanism; instead, it has a set of protocols that govern the way in which information is forged. So, a blockchain can be stored in flat files or in a database.

Blockchain technology gained popularity due to the fact that its integrity can't easily be compromised. A compromised blockchain can be recognized for what it is, and rejected quite easily by anyone in a network. This integrity is achieved by cryptography, which is what binds the blocks ...