blockchain technology
Decentralized transaction record
Blockchain technology is a system for recording information in a way that makes it difficult to alter or hack.
Data is stored in blocks that are chained together chronologically, with each block containing a cryptographic hash of the previous one.
This creates a distributed ledger shared across a network of computers rather than held by a central authority.
Originally developed for Bitcoin, blockchain now underpins various cryptocurrencies and has applications in supply chain tracking, voting systems, and digital contracts: The company uses blockchain technology to verify the authenticity of luxury goods.
- cryptocurrencyEncrypted decentralized money
- smart contractsSelf-enforcing coded agreements
- nodesPoints of connection
- validatorsTools that confirm compliance
- immutabilityInability to change
digital asset · coin · crypto wallet · private key · timestamping · digital signature · consensus · miners · proof of work · proof of stake · tokenization · wallet · decentralization · hash · cybersecurity · NFT · identity verification · DeFi
blockchain technologyescrow services
Protected transaction intermediary
clearinghouse · central bank · centralized authority · middleman · PayPal