What is Blockchain Technology? 

A common term you’ve probably heard several times in the past few months is blockchain technology.

What is blockchain technology? Even though blockchain technology has been around for more than a decade, people have only recently noticed it because of its potential uses in various industries.

What Is Blockchain Technology, and What Does It Do?

At its most basic level, a blockchain is a type of shared database that differs from a typical database.

It stores information; blockchains store data in blocks linked together via cryptography. As new data comes in, it goes into a new block.

The first blockchain was created in 2009 by an anonymous person or group known as Satoshi Nakamoto.

How Did Blockchain Technology Come About, and Who Created It?

Bitcoin is the first and most well-known blockchain innovation. It was a proof-of-concept digital currency that launched in 2009.

Bitcoin

Smart Contracts

Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller directly written into lines of code.

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