Beginners Guide

A Beginner’s Guide: Understand Blockchain in 3 Minutes!

Written by: Delma Wilson

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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Feb 10, 2021

Technology is devoted to creating tools and processing actions; the beauty is that it only improves with time. 

In this article, we focus on the future of Blockchain technology and its importance in the digital world. Bitcoin and Crypto are buzzwords that we have heard repeatedly over the last few years. While not everyone may wish to participate in it actively, it's essential to be aware of the technology behind it. 

That's precisely what Coinpedia is going to help you with. 

Read on as we dive into the basics of Blockchain Technology for a crystal clear understanding. 

Removing The Middle Man

Booming industries like Fintech, Real estate, supply chain management, healthcare, advertising, and many more are all on the same boat, fighting to stay afloat as they tackle burdens of cost, speed, visibility, customer needs, security, and payment methods.

The all-in-one solution for this is Blockchain technology. 

Previously, there has always been a middle man between sender and receiver, which allowed the mediator to misguide the customers and charge more fees than required. Blockchain removes the need for mediators, and the transactions are carried out directly by the sender and receiver. It also tackles the issues of slow transactions, data privacy, money laundering, and data manipulation. 

So, what exactly is this technology that acts as a knight in shining armor? How does it work? Read on. 

How Does The Blockchain Work?

Blockchain is an emerging technology that is simply a decentralized and distributed secure database. This consists of a string of blocks, where each block consists of recorded data and a unique identifier called the hash.

Blocks store data ...

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