How Does Blockchain Work? An Overview | MedRec Technologies

Blockchain technology has become famous since it is the technology behind most cryptocurrencies. Blockchain technology has revolutionized the way we transact and has brought in a great improvement in the digital world. The blockchain is a very secure and transparent technology that uses cryptography to bring about a revolution in the field of decentralized transactions. It is a system where transaction records are maintained simultaneously by participants (called nodes) on a distributed ledger. This technology has played a vital role in facilitating transactions between two parties without having to rely on any third party or intermediary such as banks, governments, and other financial institutions.