The BlockChain Technology Disruption
"The blockchain does one thing: It replaces third-party trust with mathematical proof that something happened." – Adam Draper. What is a Blockchain? A Blockchain is basically a long chain of records which grows continuously. Each link in the chain contains a transaction data or digital record that is called as a Block, and hence a chain of blocks is referred to as the 'Blockchain'. A blockchain has an open, distributed and decentralized database which is accessible to anyone. It is an anonymous and public electronic ledger which is open to all and can be modified by all. It is also referred to as the Digital Ledger Technology (DLT) and makes the data transparent, safe and auditable. Origin of Blockchain In 1991, the blockchain was first proposed by a research team, including Stuart Haber and W. Scott Stornetta, to digitally timestamp the documents to avoid the tampering. It remained largely unused until 2008 when Satoshi Nakamoto proposed it as a ...