Blockchain technology offers a way for untrusted parties to reach a consensus on a common digital history. A common digital history is important because digital assets and transactions are in theory easily faked and/or duplicated. Blockchain technology solves this problem without using a trusted inte...
This is the first series of blockchain tutorials which covers all the aspects of this technology. We will understand blockchain and its history, how does it work, and its basics such as the types of blockchain, block chain nodes, and distributed ledger. We will also look at how is it c...
David Lee Chaum is credited for proposing the idea in 1982. Although he presented the theory in his doctoral dissertation Computer Systems Established, Maintained, and Trusted by Mutually Suspicious Groups, it wouldn’t be until 2008 that Blockchain technology was introduced to the world along with...
In this case, let’s pretend the buyer is from Germany. When you make a sale on eBay, the platform verifies the transaction with your bank and the purchaser’s bank. It also confirms your air fryer and the end buyer both exist. However, if you use blockchain technology to sell your ...
How does blockchain work? In simple terms, a blockchain is a shared ledger that records transactions or data. Instead of being maintained by a singular central authority, this “ledger” is stored and distributed across an entire network of “nodes”, each of which holds a copy of the ...
One of the most important concepts in blockchain technology is decentralization. No one computer or organization can own the chain. Instead, it is a distributed ledger via the nodes connected to the chain. Blockchain nodes can be any kind of electronic device that maintains copies of the chain...
In certaincryptocurrenciessuch as Bitcoin, the blockchain technology depends on nodes to race in search for a correct answer to a complicated computation in order to earn the right to ‘validate’ or add the block to the blockchain. This process is called “proof of work.” ...
Know how exactly Blockchain works, why is it so popular, and how you can get your career started. Learn more!
Blockchain technology was first introduced as the underlying technology behind Bitcoin, the world's first decentralized digital currency. In simple terms, a blockchain is a decentralized, digital ledger that records transactions across a network of computers. It is decentralized, meaning that there is...
A blockchain is a distributed database or ledgershared among a computer network's nodes. They are best known for their crucial role in cryptocurrency systems for maintaining a secure and decentralized record of transactions, but they are not limited to cryptocurrency uses. Blockchains can be used...