82,510
edits
Blockchain: Difference between revisions
Jump to navigation
Jump to search
no edit summary
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary Tags: Mobile edit Mobile web edit |
||
| Line 1: | Line 1: | ||
{{a| | {{a|crypto|}}A [[blockchain]] is a distributed record of information — transactions, contracts, whatever — stored across a network. Each “block” of information gets its own cryptographic code which is posted to ''every'' node on the network. Thus, you can’t futz with any information on the blockchain unless you can futz with the whole network, which is like boiling the ocean. Once written, the blocks are, therefore, effectively permanent. | ||
Blockchain allows ''parties who don’t trust each other'' to transact in confidence. What’s done is done — what’s on the blockchain cannot be reversed. There’s a permanent record. No one controls it: it’s truly anarchic, like: no government. No mendacious middlemen like banks. just pure, untrammelled ''laissez-faire''. | Blockchain allows ''parties who don’t trust each other'' to transact in confidence. What’s done is done — what’s on the blockchain cannot be reversed. There’s a permanent record. No one controls it: it’s truly anarchic, like: no government. No mendacious middlemen like banks. just pure, untrammelled ''laissez-faire''. | ||