Blockchain technology—which was first introduced in 2008 in the context of the digital currency Bitcoin—is often seen as a trust producing technology that might make trustworthy intermediaries such as banks obsolete .
Read moreWhy you should not use blockchain?
Regulation- blockchains exist orthogonally to the law and can’t be easily overturned . In heavily regulated industries that require interpretation, blockchain could be difficult to effectively apply. It’s difficult to comply with all rules and often can’t be easily tailored to existing regulatory infrastructure.
Read moreWhat is blockchain in programming?
As you might have deduced from the name, a blockchain is a type of digital ledger that stores blocks of data in an interconnected fashion . New data is added to the blockchain from a theoretically limitless number of nodes that a blockchain can support.
Read moreWhat is Blockchain technology and cryptocurrency?
Blockchain is the underlying technology that many cryptocurrencies — like Bitcoin and Ethereum — operate on , but its unique way of securely recording and transferring information has broader applications outside of cryptocurrency. A blockchain is a type of distributed ledger.
Read moreWhat is a blockchain used for?
A blockchain is a decentralized, distributed, and oftentimes public, digital ledger consisting of records called blocks that are used to record transactions across many computers so that any involved block cannot be altered retroactively, without the alteration of all subsequent blocks .
Read moreWhat is blockchain in one word?
: a digital database containing information (such as records of financial transactions) that can be simultaneously used and shared within a large decentralized, publicly accessible network also : the technology used to create such a database The technology at the heart of bitcoin and other virtual currencies, …
Read moreWhat is the best definition of blockchain?
A blockchain is a digital, public ledger that records online transactions . Blockchain is the core technology for cryptocurrencies like bitcoin. A blockchain ensures the integrity of a cryptocurrency by encrypting, validating, and permanently recording transactions.
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