What is Blockchain Technology and Bitcoin?

The blockchain is an ingenious invention, of a person or group of people known by the pseudonym, Satoshi Nakamoto.

Blockchain Technology

What is

A continuously growing list of records, called blocks, which are linked and secured using cryptography, this blocks can record transactions between two parties efficiently and in a verifiable and permanent way…

 

 

 

 

Bitcoin

 

In 2008 Satoshi Nakamoto released a White paper called: Bitcoin: A Peer to Peer Electronic Cash System. In this paper, he argued that he had solved the issue of double-spend for digital currency via a distributed database.

A blockchain technologie that we know today as bitcoin so well.

Around 2014, technologists and investors shifted their focus from Bitcoin to blockchain, bitcoin’s underlying technology.

The boom

In 2017 investors’ exuberance for blockchain applications has outpaced the technology. There is early evidence of blockchain’s impact in the financial sector as startups such as Chain, Ripple, and Abra set out to reinvent settlement, trade finance, and remittance respectively by partnering with major financial institutions.

With the arrival of 2018, the rise of Bitcoin and Ethereum brought the hype for blockchain based ICOs as a mean of crowdfunding.

It is believed that the technology boom is arriving and blockchain is the mean to a new modern society and bitcoin the very beginning of it all…

Take a look at another article about What is cryptonote currency and cryptonight algorithm?

Did you learned about Blockchain Technology and Bitcoin?

Please leave us your comment

 

Leave a comment

Your email address will not be published. Required fields are marked *