Blockchain channel kickoff


#1

This post is to kick off blockchain section of this discussion forum. You can picture blockchain as a complex linked list where each element (blocks in blockchain) has a connection to its parent , but instead of pointers it uses parent hashes.

Blockchain is secure and decentralised by design. And that’s a big deal.

From wikipedia, blockchain is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data which is represented as a merkle tree root hash.

Blockchain technology was first introduced in 2008 mainly to power Bitcoin. Blockchain in the context of Bitcoin and now many other crypto currencies managed to solve the age old problem of double-spending.

Soon after its first release, we realised the power of blockchain in different applications and since then it has became a core technology to solve complex problems which wasn’t possible up until now.

Most blockchains releases their source code in a public domain as an Open-source software.