Hello aspirant,

Blockchain is a technology that allows blocks of information to be created and stored in a chain. A blockchain is a singly linked list of blocks, with each block containing number of transactions and assets in a business network. For e.g. land, a car, cash, patents, copyrights, or branding. It provides a decentralized, immutable data store – that can be used across a network of users, create assets and act as a shared book that records all transactions. Each transaction or “block” is transmitted to all the participants in the network and must be verified by each participant “node” solving a complex mathematical puzzle. Once the block is verified, it is added to the ledger or chain of blocks – affording greater transparency and trust to all parties involved.

For more information you can visit:

https://law.careers360.com/articles/blockchain-concept-and-legal-aspects

Thank you.