While writing articles or e-papers on the blockchain, writers usually falter in the fundamental understanding of blockchain technology and how it works. Blockchain is an encrypted system of recording transactions that are now being used extensively by banks and financial institutions to generate trust in contract formation and execution. Know all about the basics of blockchain technology so that your article on the blockchain is sound. This presentation can serve as a reference piece for all technical writers on blockchain.

1. BLOCKCHAIN TECHNOLOGY

2. What is Blockchain?
• BLOCKCHAIN IS A PUBLIC , DISTRIBUTED
LEDGER THAT RECORDS TRANSACTIONS IN
BLOCKS.
DIFFICULT TO UNDERSTAND?
LETS DISSECT EACH PART OF THE DEFINITION

3. WHAT IS A LEDGER?
• A LEDGER IS A RECORD KEEPING SYSTEM OF
BUSINESS TRANSACTIONS

5. WHAT ARE BLOCKS IN BLOCKCHAIN?
• BLOCKS ARE DIGITAL PIECES OF INFORMATION
OF THIS LEDGER TRANSACTION RECORD.
• IT STORES INFORMATION LIKE DATE , TIME,
AMOUNT OF PURCHASE AND THE PARTIES
INVOLVED IN BUYING AND SELLING

7. • THIS INFORMATION IS STORED IN AN
ENCRYPTED FORM CALLED HASH CODES.
• HASH CODES ARE STRINGS OF LETTERS OR
NUMBERS GENERATED BY HASH FUNCTION.
• EVERY TRANSACTION HAS A DIFFERENT HASH
CODE

8. • TRANSACTIONS ARE PROVIDED THESE HASH
CODES IN ORDER.
• IF YOU WANT TO CHANGE THE HASH CODE OF
ANY OF THE TRANSACTIONS, THE HASH
CODES OF ALL THE PREVIOUS TRANSACTIONS
CHANGES

9. • EVEN A SMALL CHANGE IN TRANSACTION
CREATES A COMPLETE NEW HASH OR
TRANSACTION CODE

11. • BLOCKCHAIN IS A CHAIN OF BLOCKS OR CHAIN
OF TRANSACTION RECORDS.
• BLOCKCHAIN OR THIS RECORD DIARY IS
SPREAD OVER HUNDREDS OF COMPUTERS
CALLED NODES. SO IT IS A PUBLIC LEDGER
TECHNOLOGY

12. • THIS NODES ARE INSPECTING POINTS WHICH
ENSURES THAT TRANSACTION HAS NOT BEEN
CHANGED BY CHECKING THE HASH CODE.