What does blockchain mean?

Definitions for blockchain
blockcha·in

This dictionary definitions page includes all the possible meanings, example usage and translations of the word blockchain.


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Wikipedia

  1. Blockchain

    A blockchain, originally block chain, is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a merkle tree root hash). By design, a blockchain is resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority. Although blockchain records are not unalterable, blockchains may be considered secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been claimed with a blockchain.Blockchain was invented by Satoshi Nakamoto in 2008 to serve as the public transaction ledger of the cryptocurrency bitcoin. The invention of the blockchain for bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server. The bitcoin design has inspired other applications, and blockchains which are readable by the public are widely used by cryptocurrencies. Private blockchains have been proposed for business use. Sources such as the Computerworld called the marketing of such blockchains without a proper security model "snake oil".

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Numerology

  1. Chaldean Numerology

    The numerical value of blockchain in Chaldean Numerology is: 5

  2. Pythagorean Numerology

    The numerical value of blockchain in Pythagorean Numerology is: 6

Examples of blockchain in a Sentence

  1. Paul Taylor:

    Most of the banks are using systems that were written in the 80s and 90s, and they just are not ready for the security-conscious internet app age at all, what the blockchain does is provide a very secure way of storing transactions.

  2. Iwan Djuniardi:

    It takes time to process a management change before we adopt a new technology. Even cloud technology is still being debated, let alone blockchain.

  3. Jack Lee:

    I feel (SoftBank) Vision Fund's focus is more on existing and a bit older economy, such as real estate (WeWork, internet-based rides hailing apps) ... while we have been promoting the decentralized digital economy powered by blockchain for years.

  4. Jerry Cuomo:

    If there is a 100 percent opportunity in the blockchain, bitcoin, or the currency, is only 1 percent of it.

  5. Antony Lewis:

    It looks like he is trying to patent the fundamental building blocks of any blockchain, cryptocurrency, or distributed ledger system.


Translations for blockchain

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"blockchain." Definitions.net. STANDS4 LLC, 2024. Web. 30 Apr. 2024. <https://www.definitions.net/definition/blockchain>.

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