Entity: BLOCKCHAIN
Blockchain is a digital database technology that enables secure and transparent transactions across a decentralized network.
BLOCKCHAIN
Etymology
The term 'blockchain' is derived from its structure of data blocks linked together in a chain.
Definition
Blockchain is a digital database technology that enables secure and transparent transactions across a decentralized network. It is a distributed ledger technology for immutable digital transactions, allowing the recording of transactions and tracking of assets within a business network.
Historical Context
Blockchain technology was first introduced in 2008 as the underlying technology for Bitcoin. Since then, it has evolved to be used in various industries beyond cryptocurrency.
Cultural Significance
Blockchain has revolutionized the way transactions are conducted by providing transparency, security, and decentralization. It has the potential to disrupt traditional industries and improve efficiency.
Related Concepts
- Cryptocurrency
- Distributed Ledger Technology
- Smart Contracts
See Also
A distributed ledger technology for immutable digital transactions, allowing the recording of transactions and tracking of assets within a business network.