by Matt Basso | February 2017

What is a Blockchain

If you're in tech and haven't heard the word blockchain, you're probably living under a rock.

 

If you're in FinTech and haven't heard the word blockchain you're likely brain dead.

 

If you work at a bank or any other kind of finacial institution and haven't heard the word blockchain, your next office is most def in the basement with your red stapler.

 

In my opinion the Bitcoin blockchain can be described as a digital, decentralized ledger that records transactions. What's important about the Bitcoin blockchain is that it's distributed publicly to many computers that verify transactions. Any changes on this ledger need to be verified and ok'd by better than 50% of the participating "nodes" or machines running the software that Bitcoin is "mined" or created on.

 

Here is a great video that explains how the Bitcoin Blockchain works!

Filed under: Bitcoin