What is blockchain, and why does it matter beyond cryptocurrency?
A technology where nobody is in charge - and that's the point.
The answer
Blockchain is a distributed digital ledger where transactions are grouped into blocks, cryptographically linked in a chain, and stored identically across thousands of computers. Because altering one block would require recalculating every subsequent block across all copies simultaneously, the record is effectively tamper-proof. Beyond cryptocurrency, blockchain is being used for supply chain verification (tracking food from farm to table), digital identity management, smart contracts that execute automatically, and secure medical record sharing.
Source: MIT Technology Review
- blockchain
- cryptocurrency
- distributed systems
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