Blockchain Technology' simplified

What is blockchain?                                             This is a way of recording data in a network of information systems by network participants or nodes in order to make the recorded useful data immutable.                       It is the network of information systems harnessed, assembled or put together wherein data are entered in such a way that it could not be changed.                                         Blockchain can also be regarded as the secured digital ledger of business transactions that are chained, duplicated and distributed across the entire network of information systems.                                           ANALYSIS.                                                            Simply put, in all three definitions of blockchain, we can learn that:                            1 It is a way of recording data so that it can not be changed, hacked or cheated. Therefore. The record is safe and secured.       2 Those who work to record transaction onchain are known as network participants or nodes. They are also called 'miners'.            3 computer system or computing devices are used  across the network to achieve immutable record.                                                Blockchain and Book- Keeping.                        While book-keeping and accounting make records on books or computer files called ledger, and adopting the double-entry system to enter financial transaction. Blockchain technology on the other hand, adopts the discentralized system known as DLT -Distributed Ledger Technology. This technology ensures hack free security of the data recorded in a blockchain network.            A book keeper or an accountant records financial transactions of a firm in a book know as a ledger. This ledger could be a computer file. However, the data recorded in a blockchain are recorded in blocks of digital ledger. These blocks are chained, crypted together with cryptographic signature known as the Hash key.                                                    PROPERTIES OF BLOCKCHAIN.                         1. Nodes. These are network participants who work as miner to secure the blockchain by recording transactions in blocks, confirming or validating transactions and broadcasting records throughout the blockchain.they solve critical computational puzzles to find a new block, confirm it and broadcast it across the chain. They get paid some mining rewards for their hard smart work.                                                                       2. Blocks. These are the digital ledger or the blockchain database where data are recorded and stored.  Therefore a block in the blockchain is made up of data+nonce+hash=block.                                    3. Hashes or hashing function. This works like an electronic calculator. It provides an input and algorithm length of data that generates an output or result of the input data known as the digest. Just as when one inputs2×2×2×2×2 in an electronic calculator and it provides you 10 as the output.                4. Digest is the result of the input in hashes or hashing function. It is also called hashing code and represented by a string-like thing of a specific size however large or small the output data is. It could be a text file or a block in the blockchain.