Blockchain

What is Blockchain -The Key Features?

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Blockchain

What is Blockchain?

Many people still ask; “What it really is”

My simplest answer to that is, Blockchain is a technology.

Simple, a technology.

And I believe it’s the duty of all of us to keep spreading this information.

At most times, it is often hard to just say Blockchain, Bitcoin…without the time element.

In other words, let’s say a brief history.

The Rise of Bitcoin

I would say that, its very hard to separate the Blockchain from the Bitcoin, historically.

It just existed as it does.

However, it’s applications gained momentum when one person, only known by the name Satoshi Nakamoto released a white paper alondside theĀ  Bitcoin open source codes.

That was in the year 2009.

So, Bitcoin was a sure proof of what the Blockchain could achieve.

At any minimum, the Bitcoin manifestation sparkled an entire shift in the way the world viewed digital trust.

In nutshell, we can pinpoint on the pillars to the shift

(Based on Blockchain)

  1. That very important records of information could be placed in a public space, WITHOUT anyone removing it(as a selfish/interested party). Here we talk on decentralization(That information being subject to no central authority)
  2. The records were transparent and time-stamped.

So we cannot talk about Bitcoin without the Blockchain, just as we cannot also talk of Emails without the internet.

Therefore, Blockchain is the backbone of Bitcoin(and of course the ALTCOINS as wells the other applications based on it)

Blockchain

SinceĀ  2009 the Blockchains’ applications have been rising in numbers and complexity.

However, Satoshi Nakamoto has never appeared in public to claim rights to the initial Bitcoin algorithm.

Further, to this mystery, why did he opt to do it as open source?

I may not want to get so deep into that discussion.

But that may have been in the spirit of consensus/ public interest, decentralization and such.

So just as the rising of the internet and its numerous transformation, so shall be that of the Blockchains’ (of course with time)

Any comments

Kindly share,

James

 

 

 

 

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