This, in turn, makes it possible to exchange anything that has value, whether that is a physical item or something less tangible.Ī blockchain has three central attributes. Nodes are incentivized with digital tokens or currency to make updates to blockchains.īlockchain allows for the permanent, immutable, and transparent recording of data and transactions. This is known as distributed ledger technology, or DLT. A blockchain is a type of distributed database or ledger-one of today’s top tech trends-which means the power to update a blockchain is distributed between the nodes, or participants, of a public or private computer network. Transactions are recorded in an account book called a ledger.

Data, obviously, is stored in a database. And it has major potential to change industries from the bottom up.īlockchain is a technology that enables the secure sharing of information. Despite its reputation for impenetrability, the basic idea behind blockchain is pretty simple. Everyone seems to be talking about it-but beneath the surface chatter there’s not always a clear understanding of what blockchain is or how it works. Blockchain is one of the major tech stories of the past decade.

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