Chapter 3

Blockchain 101

What is Blockchain and How Does This Revolutionary Technology Work?

Sebastien Meunier,    Director, Chappuis Halder1, New York, United States


Blockchain or Distributed Ledgers Technology allow users to record and share a common view of a system’s state across a distributed network. This opens up unlimited possibilities for peer-to-peer value transfer; shared trusted registries as immutable source of truth; and securely executable agreements through the use of smart contracts. Broadly speaking, Blockchain is construed as a machine to build trust, transparency, reliability, speed, and effectiveness in peer-to-peer and automated transactions. Besides a brief history of Blockchain, this chapter is to present the ...

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