Why blockchains—from Bitcoin to Ethereum—have taken the tech world by storm https://t.co/HFassHnasx
— The Economist (@TheEconomist) September 18, 2021
— The Verge (@verge) September 9, 2021
Give yourself a competitive advantage with the MSc in Digital Currency and Blockchain from the world leaders in blockchain education!
— Digital Currency (@MScDigital) March 21, 2019
More than 80% of respondents in our 2021 Global Blockchain Survey agree that #Blockchain-based applications will be “very important” in their industry within two years. Learn more in our recent report. https://t.co/LlR6WzgCVZ
— Deloitte Technology (@DeloitteOnTech) September 2, 2021
A blockchain is a digital ledger that allows parties to transact without the use of a central authority to validate those transactions. The use of a central authority (i.e., a third party) can be avoided because in a blockchain, as transactions are added, the identities of the parties conducting those transactions are verified, and transactions are verified as they are added to the ledger as a block of transactions. The ledger is auditable because each block of transactions is dependent upon the previous block in such a way that any change would alert other users of a change to the history of transactions. The strong relationships between identities, transactions, and the ledger enable parties that may not trust each other to agree on the state of resources as logged in the ledger. With an agreement on that history, parties may then conduct a new transaction with a shared understanding of who has which resource and of their ability to trade that resource.
Blockchain is not a new technology; rather it is an innovative way of using existing technologies. Four particular technologies are used to enable blockchain technologies: asymmetric key encryption; hashes; Merkle trees; and peer-to-peer networks.
How blockchain, a form of distributed ledger technology, acts as a means of payment for cryptocurrencies
Blockchain Technology Overview