Home Technology Blockchain What is Blockchain Technology?

What is Blockchain Technology?

1 min read
0
0
221

You may have heard the term “blockchain” before, in reference to Bitcoin and Ethereum, two of the major implementations of the technology.

In this context the words “block” and “chain” are actually talking about digital information (block) stored in a public database (chain). At its most basic a blockchain, is a growing list of records, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp and transaction data.

In 2008, Satoshi Nakamato conceptualized the distributed blockchain. It utilized a peer-to-peer network to timestamp and verify each exchange, and could be managed autonomously without a central authority. This became the foundation of the cryptocurrency known as Bitcoin. Thereafter the blockchain technology and cryptocurrency popularity grew with the success of Bitcoin.

  • What is Cryptography?

    Cryptography involves creating written or generated codes that allow information to be kep…
  • What is Bitcoin?

    Released as an open-source software in 2009, Bitcoin is often credited as the world’s firs…
  • Oasis500, A Distant Oasis For Caricom Startups

    Oasis500 is an ICT, digital media and mobile business accelerator and investment company b…
Load More Related Articles
  • What is Cryptography?

    Cryptography involves creating written or generated codes that allow information to be kep…
  • What is Bitcoin?

    Released as an open-source software in 2009, Bitcoin is often credited as the world’s firs…
  • Oasis500, A Distant Oasis For Caricom Startups

    Oasis500 is an ICT, digital media and mobile business accelerator and investment company b…
Load More By kenroy
Load More In Blockchain

Leave a Reply

Your email address will not be published. Required fields are marked *