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Author Topic: What is blockchain technology?  (Read 3193 times)

Offline Ikram

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What is blockchain technology?
« on: January 01, 2018, 02:31:13 PM »
A blockchain, originally block chain, is a continuously growing list of records, called blocks, which are linked and secured using cryptography.

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What is blockchain technology?
« on: January 01, 2018, 02:31:13 PM »

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Offline zahiddj

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Re: What is blockchain technology?
« Reply #1 on: January 05, 2018, 09:54:46 AM »
I am too want to know what is blokghain technology

Offline iane.macarthur

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Re: What is blockchain technology?
« Reply #2 on: March 15, 2018, 09:18:34 AM »
The blockchain is an undeniably ingenious invention – the brainchild of a person or group of people known by the pseudonym.
The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
Have a visit this account newbie deactivated link:https://twitter.com/chronicledinc [nonactive], and you can found details about block-chain.

Offline Domithra

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Re: What is blockchain technology?
« Reply #3 on: March 24, 2018, 09:51:39 AM »
A blockchain, originally block chain, is a continuously growing list of records, called blocks, which are linked and secured using cryptography.
Blockchain is a decentralized digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly.
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Offline JanneSphere

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Re: What is blockchain technology?
« Reply #4 on: April 18, 2018, 10:34:44 AM »
This is a database where all the information on the transactions is recorded. Data will be stored in blocks connected together in a chain. Any confirmed transaction with a crypto currency has its own digital signature, which is permanently stored in the blockchain.

Offline Kessaguia

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Re: What is blockchain technology?
« Reply #5 on: April 29, 2018, 12:33:08 PM »
A blockchain,[1][2][3] originally block chain,[4][5] is a continuously growing list of records, called blocks, which are linked and secured using cryptography.[1][6] Each block typically contains a cryptographic hash of the previous block,[6] a timestamp and transaction data.[7] By design, a blockchain 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".[8] For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.

Blockchains are secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been achieved with a blockchain.[9] This makes blockchains potentially suitable for the recording of events, medical records,[10][11] and other records management activities, such as identity management,[12][13][14] transaction processing, documenting provenance, food traceability[15] or voting.[16]

Blockchain was invented by Satoshi Nakamoto in 2008 for use in the cryptocurrency bitcoin, as its public transaction ledger.[1] 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. The bitcoin design has been the inspiration for other applications.[1][3]

Offline yusuf98

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Re: What is blockchain technology?
« Reply #6 on: May 03, 2018, 10:34:51 AM »
A blockchain, originally block chain, is a continuously growing list of records, called blocks, which are linked and secured using cryptography.
I am sure you can find many definitions of blockchain on the internet, so I will try to explain the meaning in my own way.
Blockchain is a system that does not use such third parties. In essence, records of transactions that have occurred, stored by many computers scattered in the network itself. So it would be harder to hack a system of hundreds or thousands of computers, and chances are small for all those computers to be interrupted at the same time.

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Re: What is blockchain technology?
« Reply #6 on: May 03, 2018, 10:34:51 AM »


Offline wahyunyarobiyanto

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Re: What is blockchain technology?
« Reply #7 on: May 04, 2018, 09:36:19 AM »
Blockchain is a technology introduced with Bitcoin by one or a group calling itself Satoshi Nakamoto which was originally used to record the financial transactions of bitcoin.

Simple blockchain is a data structure that can not be changed can only be added only. Each data from this blockchain is connected where if there is a change in one of the data block it will affect the next data.

With this blockchain every transaction of bitcoin is stored in an Open Ledger (Ledger) which is distributed into bitcoin networks. Each blockchain will be distributed to each computer connected to the network. In each addition of data there will be check whether the data is valid or not which is usually called mining process or known in other term Proof of work.

Offline Stormyblue

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Re: What is blockchain technology?
« Reply #8 on: May 14, 2018, 06:01:01 PM »
The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
Don & Alex Tapscott, authors Blockchain Revolution (2016)
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Offline dafrancis

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Re: What is blockchain technology?
« Reply #9 on: June 05, 2018, 12:22:51 PM »
The practical consequence for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer. The consequences of this breakthrough are hard to overstate.

Offline moonking

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Re: What is blockchain technology?
« Reply #10 on: September 02, 2018, 12:51:08 PM »
This is a database where all the information on the transactions is recorded. Data will be stored in blocks connected together in a chain. Any confirmed transaction with a crypto currency has its own digital signature, which is permanently stored in the blockchain.

I love everything about bitcoin except one thing, massive electricity consumption.  When people talk about how decentralized bitcoin is, we forget how centralized electricity is.  One law from the electricity providers that mining is not permitted off their plant, and we'll be in the desert mining of solar power, which is the way it should be.
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Offline Stgeorge

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Re: What is blockchain technology?
« Reply #11 on: September 02, 2018, 01:35:42 PM »
Blockchain technology created the backbone of a new type of internet.The Blockchain technology was first used for Bitcoin.There is no crypto coins with out blockchain technology.

Offline CryptoM

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Re: What is blockchain technology?
« Reply #12 on: September 06, 2018, 09:33:11 AM »
Yes, there is no crypto coins with out blockchain technology, but there is a blockchain technology without crypto coins.

Offline Cheratu Mesir

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Re: What is blockchain technology?
« Reply #13 on: September 06, 2018, 02:40:43 PM »
Basically, blockchain is a data structure that cannot be changed and can only be added. The technology that makes large books with many blocks can be accessed by anyone connected to the internet and their nature is transparent. In the transaction process can only be done by two people without intermediaries, and the verification will be arranged by nodes and will create a new block.

Offline bittpress

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Re: What is blockchain technology?
« Reply #14 on: September 11, 2018, 09:14:53 AM »
A blockchain, initially squares and chain is a developing rundown of records, called squares, which are connected utilizing cryptography. Each square contains a cryptographic hash of the past square, a timestamp, and exchange information.

By enabling advanced data to be circulated yet not duplicated, blockchain innovation made the foundation of another sort of web.

 

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