The very mention of the word 'blockchain' immediately conjures up memories of the term called decentralization. Although it might be a simple word taken out of the English dictionary, this attribute of the blockchain makes it stand out from any other new technology that made its entry in the recent past. It means that the power to exert complete control over the entire ecosystem of the blockchain does not lie with any single entity but is distributed across multiple entities that form the blockchain. These entities that represent the components of the blockchain are called blocks or nodes. The consistency of data across every node that forms the blockchain needs to be assured. Should there be any inconsistency in the data, that particular change is not approved?
This amazing technology makes blockchain an epitome of security. A person who wants to maliciously access data or modify data should have access to the entire blockchain at the same time, and it seems quite unlikely. What if this principle of decentralization can be used to build applications period? These applications are commonly called decentralized applications and are commonly abbreviated as d'apps.
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