Blockchain is nothing but a shared and distributed database. It is a digital ledger decentralized to share data across the nodes of a computer network. Here, the nodes can be computers, servers, or laptops, given the way a block chain is built, transactions made on a block chain appears to be immutable or irreversible as the case may be.
BUT HOW DOES A BLOCK CHAIN WORK?
I have made series of research about this and it all boils down to this: Consider the example am about to give, when an asset whether tangible or digital , moves or transitions from one place to another , all necessary relevant data is continuously logged or stored in a block, as the asset moves from one location to another , i.e across various channels ,it generates new additional data which has to be stored in new blocks,these newly created blocks are now linked or connected to the older ones in order to create a block chain. 
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COMPONENTS OF BLOCK CHAINS
Having found out how a block chain works as explained above, I’ll want to delve into the components of a block chain
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First and foremost,we have the main thing that makes up a block chain, And that is a “BLOCK” understandably blocks are the backbones or foundation behind each block chain, storing data within a data leaves it immune to alterations and eventual change, this is to say that once you store an information on a block chain, you cannot change or even edit it. Once a block is filled with the needed data or information it is automatically attached to the preceding blocks, and each block contains very crucial information , like block size,the hash of the previous block, block header, and stuff like that. It however imperative to understand that blocks are linked based on cryptographic methodology . 
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Second on the list is what is called , HASH CODES . Hash codes from the little I know, Are like code problems that have to be solved in order to add new blocks to the block chain, it is one of the vital security measures used and applied in block chain technology today,it aims and has helped to ensure that data within a block is not tampered with by anyone , Hash codes can also be used to verify and authenticate the integrity of transportation .It is very important to note that for it to generate the same output whenever you apply the hash function in a data in a block , the data in it must not have been modified. This takes us to the next one .
NODES: this refers to storage units that store so much amount of block chain data , and detects whenever changes are made to the block chain data it holds. As some of us might have known nodes can refer to laptops, servers and computers, and they’re all connected to a block chain network. As I found out nodes are divided in two, which is full node and light nodes
Full Nodes: Generally, a full node stores the complete copy of a blockchain. In other words, once a full node joins a blockchain, it stores copies of all the blocks. After the node is synchronized with all other nodes in the network, it can add new blocks to the blockchain. Full nodes usually have more memory than light nodes. They can accept, reject, and validate transactions.
Light Nodes: They are also known as partial nodes. This is because they don’t copy all the blocks in the blockchain. Instead, they only store the recent blocks and access older ones only when users request the same. They maintain the hash code of transactions. You can access data only after solving the hash code. Unlike full nodes, they have only low computing power and memory.
The next on the list is the “LEDGER” Basically this essential component of a block chain looks like a record keeping system. And it is as well divided into three, where we have public ledger, the distributed ledger and the decentralized ledger.
THE DECENTRALIZED LEDGER is a model where the participants don’t have any to place trust in others or be aware of their identities,and it allows users and stakeholders to access real time data from the ledger anytime they wish to, this form of ledger lessens reliance on specific central authorities that oversee the network, this brings consistency and enhances performance through the decentralization of resources.
THE PUBLIC LEDGER is another form of ledger that is used in block chain, that secured users identity in an anonymous and safe form in proportion to their respective crypto currency balances, and it only allows and records transactions after Verifying the senders liquidity. And it does not have any central authority , it’s important to note that here the users identity is verified before any transaction can be made.
THE DISTRIBUTED LEDGER is a ledger where all nodes have a copy of databases, which helps them perform tasks like verifying transactions, or adding block to a block chain, data or assets in this ledger can only be accessible with the use of cryptographic signatures and keys. Having known what a block chain is and how it works,Now this brings us to the main point: why is blockchain important and what can it be used for?
WHY BLOCKCHAIN?
Starting from Bitcoin ,many crypto platforms now use block chains , why is that?, well let’s find out.
First a block chain is secure, transparent, and permanent, allowing for the creation of a reliable digital ledger . Just like we discussed above
In Addition,
When new blocks are added to a blockchain, it enhances the overall security and integrity of the network. This is because each new block contains a record of transactions that is linked to the previous blocks in a chain-like structure, making it extremely difficult for any unauthorized changes to be made without detection. Additionally, the addition of new blocks helps to increase the efficiency and speed of data access within the blockchain network, as it allows for faster verification and validation of transactions. Overall, the continuous addition of new blocks strengthens the blockchain system and enhances its ability to securely store and manage data.
Lastly, It eliminates the dependency on using third parties to verify transactions. As a result, the cost of transactions and compliances is reduced significantly.
HOWEVER this does not end here, there’s still more to be discussed, like the limitations, real time applications and the features of a block chain, and the benefits have not ended yet, I’ll be discussing those in the next article,
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