Blockchain technology allows ownership of digital assets regulate and secure more directly and efficiently, as it offers a complete and unchangeable data recording. In addition, all certification processes will be faster, more secure and cheaper.
All data is simultaneously stored in encrypted form on different computers and servers worldwide. These computers are called nodes. Each transaction is thus stored decentrally. Even if several of the nodes fail, the data can be retrieved reliably.
Data is stored in blocks, with each newly generated block referring to the block before the block. These blocks form a chain: "block" and "chain" = "blockchain". The chain continues indefinitely.
Because of these two concepts, the blockchain is associated with an open ledger. But to compare anonymously. Every transaction within the blockchain is publicly viewable. The blockchain is, so to speak, a multi-eye principle. Invalid transactions such as trying to send more cryptocurrency than you have from A to B will be rejected by the network, finally rejecting the transaction.
