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Almost everyone has heard about blockchain. But not every one understands how it works. This blog shows that understanding blockchain is a five finger exercise . Let's Imagine there are ten friends(ram, shyam, ben, clarks, Roni, Johnny, Golu, Tony, Gatsby & Ann) who have came into an agreement that whatever monetary transaction they are doing shall be recorded by Ram Ram recorded following transactions:- 1. Ben gave $200 to Roni 2. Roni gave $50 to Gatsby 3. Johnny gave $150 to Ann 4. ......... Now lets suppose Gatsby decided to change the entries 1. Ben gave $200 to Roni 2. Roni gave $50 $60 to Gatsby 3. Johnny gave $150 to Ann 4. ......... Ram Noticed that someone has changed the entries. So he decided to come up with a way such that he converted every statement into a code. Each new statement is converted into a code in such a that it made from code of previous code and code of new statement. 1. Ben gave $200 to Roni  - 059fa39a6995d4b9be5831ef...

8th October 2008, Satoshi Nakamoto released the white paper of bitcoin. This white paper wasn't any other authoritative document but it was beginning of an biggest ever digital revolution man kind will ever see. 3rd January, 2009,  The bitcoin network came to life , Nakamoto did first transaction and produced the genesis block of bitcoin.  But bitcoin wasn't the "THE BIGGEST EVER DIGITAL REVOLUTION" I was talking about. It was the tech behind bitcoin, BLOCKCHAIN . People think Nakamoto invented blockchain because of bitcoin but what I think is just the opposite of it.  What is blockchain ? Blockchain is a new type of internet. Unlike internet blockchain is distributed, public ledger. Just like facebook is an application of internet blockchain is of application of  blockchain. Major difference between internet and blockchain is that internet is an network based on intermediaries whereas blockchain is a peer - to - peer network.  For Exam...