January 2019
Beginner to intermediate
745 pages
21h 6m
English
Content preview from Computer Science Illuminated, 7th Edition
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15.5 Blockchain
Blockchain is a network-based technology that was originally developed to support Bitcoin, a cryptocurrency that has been in use since 2009. A cryptocurrency is a currency that exists only in the digital world, instead of as paper money or some other physical representation. But the importance of blockchain is spreading beyond cryptocurrency; many think that it represents the future of online transactions.
Blockchain is like a public ledger, recording important data about economic transactions. Although originally designed for financial transactions, it can be used to record anything of value, such as contracts, medical data, or voting records.
A block is a record of new transactions. Once verified using established algorithms ...
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