It is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.
- A blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions.
- Currently, the technology is primarily used to verify transactions, within digital currencies though it is possible to digitize, code and insert practically any document into the blockchain.
A blockchain is a decentralized, distributed and a public digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network.
Blockchain technology explained
- Blockchain is a Distributed Ledger Technology (DLT) that was invented to support the Bitcoin cryptocurrency.
- Blockchain monitors and verifies Bitcoin transactions by calling upon a decentralized network of volunteer-run nodes to, in effect, vote on the order in which transactions occur.
Blockchain Solutions is a solution design & development company specialized in blockchain technology. We assist companies willing to develop solutions based on blockchain technology or to explore its potential impact.