Entity: BLOCK-CHAIN
Blockchain is a decentralized digital database or ledger that securely stores records across a network of computers in a transparent, immutable, and tamper-resistant manner.
BLOCKCHAIN
Etymology
The term 'blockchain' is derived from its structure, where data is stored in blocks that are linked together in a chain.
Definition
Blockchain is a decentralized digital database or ledger that securely stores records across a network of computers in a transparent, immutable, and tamper-resistant manner.
Historical Context
Blockchain technology gained prominence with the introduction of Bitcoin in 2008 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. Since then, blockchain has evolved beyond cryptocurrencies to various industries.
Cultural Significance
Blockchain has revolutionized the way data is stored and shared, offering increased security, transparency, and efficiency. It has the potential to disrupt traditional industries such as finance, healthcare, and supply chain management.
Related Concepts
- Cryptocurrency
- Distributed Ledger Technology
- Smart Contracts
See Also
An advanced database mechanism that allows transparent information sharing within a business network.