The term “blockchain” pops up all the time on the internet and you don’t know what that means? We’ll tell you what’s behind it and how you use it.
Here you can find out what is behind the term “blockchain”. (Source: nils.ackermann.gmail.com / depositphotos.com
That means blockchain: chain of digital data blocks, decentralized database
The term “blockchain” is taken from English and means something like “blockchain”. A “blockchain” is a chain of blocks of digital data. The term describes a public, decentralized database that consists of a continuously expandable list of data records in blocks.
As the “Internet of Values”, an allusion to the IoT, “Blockchain” lays the technical basis for crypto currencies such as Bitcoin and labels such as NFT. The long data chains are now criticized and described as inefficient. The high energy consumption of “blockchains” is also criticized.
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This is how blockchain works
Each block of a “blockchain” contains information about transactions, similar to an accounting system. The data chains are stored decentrally on different computers, which leads to mutual control and protects the system against manipulation.
Origin of blockchain
The idea of a cryptographically secured chaining of blocks was first described in the early 1990s. The “blockchain” gave rise to the concept of the decentralized digital currency. With Bitcoin, “Blockchain” became widely known as a distributed database management system in 2008.
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