What does blockchain mean?

Definitions for blockchain
blockcha·in

Here are all the possible meanings 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. Valery Vavilov:

    We also need to trust that data so that's where blockchain comes in.

  2. Marie Wieck:

    The validation and onboarding of new suppliers is a critical pain point for virtually any company that relies on a robust supply chain to conduct business, by moving this process onto the blockchain, we're taking much of that burden and shifting it to the network, where it can be shared in real-time more securely and efficiently.

  3. Ashwin Kumar:

    The blockchain technology won't make market infrastructure providers obsolete, (But) ignoring it would be like saying: 'Why do we need email instead of regular mail?'.

  4. Emin Gun Sirer:

    The one thing that blockchain businesses can do that no other fiat business can is to provide public evidence of financial transactions, its astounding that this exchange has not been able to produce a list of addresses under their control.

  5. Nicholas Weaver:

    [ Permission-based blockchains ] are 20-year-old ideas, whenever someone says' private blockchain,' just mentally replace that with a Google Doc that can only be updated.

Images & Illustrations of blockchain

  1. blockchain


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