A blockchain is a digital record of transactions. The name comes from its structure, in which
individual records, called blocks, are linked together in single list, called a chain. Blockchains
are used for recording transactions made with cryptocurrencies, such as Bitcoin, and have many
- A blockchain is a growing list of records, called blocks, which are linked using cryptography.
- Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. By design, a blockchain is resistant to modification of the data
- Blockchain was invented by Satoshi Nakamoto in 2008 to serve as the public transaction ledger of the cryptocurrency bitcoin
- The invention of the blockchain for bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server.
- Blockchain is considered a type of payment rail. Private blockchains have been proposed for business use.