Blockchain: Difference between revisions
Added a small section on the benefits of blockchain and added a section on how blockchain works and it's features. |
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'''Blockchain''' is a system in which a record of transactions, especially those made in a cryptocurrency, is maintained across computers that are linked in a peer-to-peer network. Blockchain was implemented in 2008 behind an anonymous person under the name Satoshi Nakamoto. | |||
Blockchain is a system in which a record of transactions, especially those made in a cryptocurrency, is maintained across computers that are linked in a peer-to-peer network. Blockchain was implemented in 2008 behind an anonymous person under the name Satoshi Nakamoto. | |||
In 1982 David Chaum doctoral candidate at the University of California at Berkeley (California) outlined a blockchain database in his dissertation, “Computer Systems Established, Maintained, and Trusted by Mutually Suspicious Groups." Decades later in 2008 on an online discussion forum, a related research paper appeared. The paper written by Satoshi Nakamoto was titled “Bitcoin: A Peer-to-Peer Electronic Cash System” and a year later the first blockchain was implemented. | In 1982 David Chaum doctoral candidate at the University of California at Berkeley (California) outlined a blockchain database in his dissertation, “Computer Systems Established, Maintained, and Trusted by Mutually Suspicious Groups." Decades later in 2008 on an online discussion forum, a related research paper appeared. The paper written by Satoshi Nakamoto was titled “Bitcoin: A Peer-to-Peer Electronic Cash System” and a year later the first blockchain was implemented. | ||
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Consensus: Rules are established where participants cannot make changes unless authorized and validated by multiple participants. This feature ensures transparency within blockchain<ref name=":1" />. | Consensus: Rules are established where participants cannot make changes unless authorized and validated by multiple participants. This feature ensures transparency within blockchain<ref name=":1" />. | ||
== References == | |||
{{reflist}} | |||
[[Category:Glossary]] | |||