What is a Blockchain address?

A blockchain address is a unique sequence of numbers and letters and functions very much like an email address . It refers to a specific destination on the network where cryptocurrency can be sent to, and it can be used only once. The idea is to give a person a unique address every time he or she is to receive crypto.

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What is a blockchain transaction?

Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain .

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How transactions are done in blockchain?

The ledger is distributed across several nodes, meaning the data is replicated and stored instantaneously on each node across the system. When a transaction is recorded in the blockchain, details of the transaction such as price, asset, and ownership, are recorded, verified and settled within seconds across all nodes .

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