When explaining blockchain in an interview, it's important to provide a clear and concise description. Here's a straightforward explanation of blockchain:
Blockchain is like a special type of digital ledger or record-keeping system that keeps track of transactions. Imagine a big notebook that many people can write in, but once something is written, it can't be changed or erased.
Instead of being stored in one place, the information is stored on many computers, called nodes, all around the world. These computers work together to make sure the information is accurate and secure. It's like having many people check and verify the information to make sure it's correct.
Each transaction is grouped together with other transactions and forms a block. The blocks are then connected to each other in a chain, just like links in a necklace. That's why it's called a blockchain.
Because the information is stored on many computers and can't be changed easily, it makes the blockchain very secure. It's difficult for someone to alter the records or cheat the system because they would need to change the information on all the computers at the same time, which is practically impossible.
Blockchain technology is being used in various industries, not just for cryptocurrencies. It can be used for things like keeping track of supply chains, verifying digital identities, or creating decentralized applications (DApps) that run on the blockchain.
Blockchain is a special digital ledger that keeps records of transactions in a secure and transparent way by storing them on many computers. It's like a chain of information that can't be easily altered, providing trust and security in a decentralized manner.
