What Is Blockchain?
The concept behind blockchain technology was first described by Stuart Haber and W. Scott Stornetta in the article, How to Time-Stamp a Digital Document (1991)1 in the Journal of Cryptology. In the article, they proposed procedures for using a “distributed network of users” and cryptographic hash functions to create a “digital safety-deposit box” or trusted timestamping service for digital data. Now, decades later, blockchain technology is a reality and is making groundbreaking impacts on the tech world, even though the technology is still evolving.
A blockchain is a digital ledger—a log of transactions or assets— consisting of discrete blocks of digital information that are linked in a chain and tagged ...
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