Blockchain is a distributed database, stored on a large number of computers in the form of a set of identical copies. These copies are constantly synchronized, so that any new records in the database are instantaneously distributed throughout the network. New changes are recorded in a single chain of information blocks.

The blockchain system is cryptographically protected — it means that the user can make new changes to the blockchain only based on his own previous actions. “Third party” editing would be impossible for them because of the lack of a cryptographic key associated with another user and known only to the latter.

Therefore, no blockchain record can be raised or changed, because it would respond immediately on all nodes of the network, which is practically impossible. So, once been recorded in the blockchain, data can not be falsified or arbitrarily deleted!

Yesterday we talked about how the blockchain technology is used in our project. If you didn’t read our post yesterday, it’s time to check it out: https://medium.com/innovaminex-com/how-are-precious-metals-and-blockchain-related-to-each-other-9467b29155f7

To learn more about InnovaMinex check our website: https://innovaminex.com/en