IT Glossary
Blockchain
A system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.
Synonyms
Distributed Ledger Technology
Acronyms
None
Synonyms
Distributed Ledger Technology
Examples
Blockchain is the technology underlying Bitcoin and other cryptocurrencies.
FAQ
Welcome to our FAQ! Get answers to common questions about modern technology.
What is the primary benefit of blockchain technology?
It provides enhanced security and transparency in transactions.
Can blockchain be used beyond cryptocurrency applications?
Yes, blockchain can be used for secure data sharing, supply chain management, and digital voting systems.
What is a smart contract in blockchain technology?
A smart contract is a self-executing contract with the terms of the agreement directly written into code.
Refferences
Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System.
