Blockchain is a new technology developed for digital data storage systems. This technology is connected through cryptography and its use cannot be separated from Bitcoin and other cryptocurrencies.

The blockchain system consists of transactions and blocks that contain a series of cryptographic hashes and previous block hashes to form a network. Blockchain works by recording immutable information.

The decentralized nature of blockchain means that this technology does not need to rely on external authorities for validation and integrity of data authenticity. This process is a decentralized process that usually occurs between network nodes to ensure the information is valid.

Each block contains a unique hash or code. Although the average blockchain transaction is an investment, the fact is that blockchain can store various types of information in the same block.

Of all the advantages and benefits that this technology provides, most of its use is for financial purposes, especially cryptocurrencies. The use of this technology is considered much safer and more efficient.

There are several uses and uses of blockchain, namely:

The existence of transparent data from each transaction.

More durable data.

How the blockchain system works on crypto coins There are several steps or ways of working in the blockchain system on crypto coins, namely:

First, a store accepts payments via crypto. Then, come customers who want to buy and pay using crypto coins.

Second, giving digital wallet addresses via blockchain. The shop owner gave his wallet address. Then the buyer makes a payment to that address. The transaction took place. This transaction will be sent in the form of a request which will later be sent to the account of the crypto coin miners.

Third, the crypto coins will be listed on the blockchain. The owner of the crypto is a person or group who has a special device to perform mathematical calculations of each transaction. They are the part of the block and will form the chain.

The miners will calculate the newly sent crypto based on the existing combinations and conversions.

After getting a value, a new block will be created. This block will later be used as a place to store transaction data between the buyer and the shop owner. After that, the transaction will be verified. And the amount of crypto in the shop owner's wallet will increase.