Blockchain Technology-Brief Primer

Blockchain Technology Explained

Updated February 06, 2018
Updated June 10, 2018

What I understood is that:

  • Blockchain is an underlying technology that enables transactions of virtual currency or called cryptocurrency, such as Bitcoin. The transaction by two parties, peer-to-peer without intermediaries-such as a bank.
  • Provide transparency
  • Using cryptographically protected block
  • The block’s data is passed through a hashing algorithm and after verification it will be chained to your last transaction.
Where Is Current Research on Blockchain Technology?—A Systematic Review (2016,Yli-Huumo et al.)
  • “Blockchain is a decentralized transaction and data management technology developed first for Bitcoin cryptocurrency. The interest in Blockchain technology has been increasing since the idea was coined in 2008.”

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