BLOCK CHAIN TECHNOLOGY

What is a blockchain? Blockchain is a decentralized, distributed and public digital ledger that is used to record transactions across many computers so that any involved record cannot be altered retroactively, without the alteration of all subsequent blocks.

A blockchain is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block a timestamp, and transaction data (generally represented as a Merkle tree).

By design, a blockchain is resistant to modification of the data. It is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.

Here are the key takeaways from using Blockchain to prevent data breaches.

· Decentralizing the data across distributed data blocks to ensure access

· Safeguarding data through encryption

· Control and monitor accessibility through verified permissions

· Allowing access to data based on the relevance

A blockchain is, in the simplest of terms, a time-stamped series of immutable record of data that is managed by cluster of computers not owned by any single entity. Each of these blocks of data (i.e. block) are secured and bound to each other using cryptographic principles (i.e. chain).