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Data storage - distributed networks Blockchain technology simply explained - Definition & Applications

Author / Editor: Sebastian Hofmann / M.A. Frauke Finus

What is Blockchain technology and what can the Blockchain do at all? Here you can find out what you need to know about Blockchain - the basics, the functionality and the application areas of Blockchain simply explained on ETMM!

Blockchain technology is based on distributed decentralized networks. It enables a wide range of new applications and could also bring revolutionary changes to logistics.
Blockchain technology is based on distributed decentralized networks. It enables a wide range of new applications and could also bring revolutionary changes to logistics.
(Source: ©photographicss - stock.adobe.com)

What is Blockchain? Blockchain is a special type of data storage. Information is not stored on a central computer, but in distributed networks, i.e. on several servers. Each of them manages a complete copy of the data. If one computer fails, all the information is still stored on all the others.

Chip.de provides another definition:"A Blockchain is a database. It contains transaction records and is constantly growing. The Clou: The Blockchain represents a web-based, public and decentralised accounting system. This means that every computer that is part of the network manages a complete mirroring of the Blockchain."

About the author

 Sebastian Hofmann

Sebastian Hofmann

Journalist, Vogel Communications Group