A blockchain is a digital ledger of data that keeps track of all transactions. Individual entries, referred to as blocks, are connected in a single list, referred to as a chain.
Blockchains are used to record transactions involving cryptocurrencies such as Bitcoin and have a variety of additional uses. Each transaction uploaded to a blockchain is verified by a network of computers. The transactions using this technology do not require a central clearing authority.
What are the benefits of blockchain?
- Enhanced transparency
- Precise tracking
- Permanent ledger
What’s the difference between blockchain and Bitcoin?
Bitcoin is a digital money that is deregulated. Bitcoin's transaction ledger is based on blockchain technology.