I’ve been hearing the term “block chain” come up more and more in discussions about finance, cryptocurrency, and global shipping. It seems important, but I’ve struggled to find a clear explanation of the concept. What is a block chain, and what makes it so important?
In: Technology
depends on the implementation. when it comes to bitcoin it’s essentially an immutable ledger that records every transaction that has ever happened in the currency. bitcoin is the first and most successful implementation of a blockchain.
as for areas outside of cryptocurrency we have yet to see a successful implementation of it. there’s been a lot of hype but little substance.
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