Blockchain is a specific type of database. It differs from a typical database in the way it stores information; blockchains store data in blocks that are then chained together. As new data comes in, that information is entered into a fresh block.
When a crypto-transaction is entered (like an NFT purchase or currency transfer), it is transmitted to a network of peer-to-peer computers around the world. Those computers confirm the validity of the transaction and then cluster them into blocks. Those blocks are chained together permanently to prevent any future tampering. After that, the transaction is complete.
KEEPING TRACK OF INTERACTIONS
A blockchain is merely a digital ledger. Its purpose is to securely keep track of transactions and verify those requests for approval.
The term blockchain refers to data stored in ”blocks” of information and then linked together in a permanent “chain.” When a new block is added to the chain, it makes the previous blocks even harder to modify, which helps each block become more and more secure over time.
NFTs (like the ones featured on this site) also use Ethereum Blockchain Technology to record and verify the authenticity of the item. That same encrypted technology records the ownership and future transfers of ownership for that item.
INVEST IN NFTs
Please take a look at some of the crypto-art offered in the Vectorvault NFT Collection.
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