BLOCK - CHAIN and WHY IT IS GOING TO CHANGE THE WORLD

in blockchain •  7 years ago 

                                          

                             

                                                          BLOCK-+-CHAIN 

- > block chain is a decentralized ,continuously growing list of records  called blocks 

-> Each block typically contains a cryptographic hash of the previous block 

a block-chain is inherently resistant to modification of the data. It is "an open, distributed     ledger that can record transactions between two parties efficiently and in a verifiable and         permanent way" 

                       

                                             

 The core ideas behind blockchain technology emerged in 1991 when a signed chain of information was used as an electronic ledger for digitally signing documents in a way that could easily show none of the signed documents in the collection that had been changed 

 Blockchain was first applied to digital cash by Satoshi Nakamoto in 2008 for use in the cryptocurrency bitcoin, as its public transaction ledger.


                

                        

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