The Blockchain Bundle
Block chains are incredibly popular nowadays. But what is blockchain? What is Blockchain technology? How do block chain work? What problems do blockchain technology solve? How can block chain technology be used? Like the name indicates, a blockchain is a chain of blocks that contains information. This technique was originally described in 1991 by a group of researchers and was originally intended to timestamp digital documents so that it’s not possible to backdate them or to tamper with them. Almost like a notary. However it went by mostly unused until it was adapted by Satoshi Nakamoto in 2009 to create the digital cryptocurrency Bitcoin. A blockchain is a distributed ledger that is completely open to anyone. They have an interesting property: once some data has been recorded inside a blockchain, it becomes very difficult to change it. So how does blockchain work? Well, let’s take a closer look at a block. Each block contains some data, the hash of the block and the hash of the previo...