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.”
