Blockchain - Revision history

User at 15:18, 9 May 2024

2024-05-09T15:18:45Z

User at 18:44, 7 February 2023

2023-02-07T18:44:10Z

User at 09:49, 17 January 2023

2023-01-17T09:49:54Z

User: The LinkTitles extension automatically added links to existing pages (https://github.com/bovender/LinkTitles).

2021-02-06T14:02:42Z

The LinkTitles extension automatically added links to existing pages (https://github.com/bovender/LinkTitles).

User at 21:28, 7 March 2019

2019-03-07T21:28:24Z

User at 20:17, 7 March 2019

2019-03-07T20:17:38Z

User: The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. Blockchain was invented by Satoshi Nakamoto in 2008

2018-12-04T21:32:08Z

The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. Blockchain was invented by Satoshi Nakamoto in 2008

New page

A block-chain is an electronic, secure, public, distributed, and linked list of records, called blocks, used to create a verifiable, and permanent ledger of transactions:
*Each transaction is between two parties
*Each transaction records the public identifier or key of both parties with a timestamp in a block
*A block contains many transactions
*Each block is linked using a cryptographic hash to the previous and next record thereby forming a chain.
*A set of blocks chained together forms a ledger
*Each copy of the ledger is complete i.e. it contains all the blocks in a chain so it contains all transactions recorded.
*Copies of this ledger are distributed amongst owners
*To alter a recorded transaction, all "owners" of the copies of a ledger must consent

The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. <ref>What is Blockchain [Don & Alex Tapscott, Blockchain Revolution (2016)]</ref>

[[File:Blockchain.png|600px|Blockchain]]<br />
Source: [https://blockgeeks.com/guides/what-is-blockchain-technology/ Blockgeeks]

Blockchain was invented by Satoshi Nakamoto in 2008 for use in the cryptocurrency bitcoin, as its public transaction ledger.<ref>Who invented Blockchain? [https://en.wikipedia.org/wiki/Blockchain Wikipedia]</ref>

===References===
<references />

← Older revision		Revision as of 15:18, 9 May 2024
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	== The Blockchain Technology<ref>[https://www.coindesk.com/information/what-is-blockchain-technology The Blockchain Technology]</ref> ==		== The Blockchain Technology<ref>[https://www.coindesk.com/information/what-is-blockchain-technology The Blockchain Technology]</ref> ==
−	Blockchain represents an innovation in information registration and distribution that eliminates the need for a trusted party to facilitate digital relationships. Yet, blockchain technology, for all its merits, is not a new technology. Rather, it is a combination of proven technologies applied in a new way. It was the particular orchestration of three technologies (the Internet, private key cryptography, and a protocol governing incentivization) that made bitcoin creator Satoshi Nakamoto’s idea so useful.	+	Blockchain represents an innovation in information registration and distribution that eliminates the need for a trusted party to facilitate digital relationships. Yet, blockchain technology, for all its merits, is not a new technology. Rather, it is a combination of proven technologies applied in a new way. It was the particular orchestration of three technologies (the Internet, private key [[cryptography]], and a protocol governing incentivization) that made bitcoin creator Satoshi Nakamoto’s idea so useful.

@@ Line 1: / Line 1: @@
-A block-chain is an electronic, secure, public, distributed, and linked list of records, called blocks, used to create a verifiable, and permanent ledger of transactions:
+== What is Blockchain? ==
 *Each transaction is between two parties
 *Each transaction records the public identifier or key of both parties with a timestamp in a block
@@ Line 6: / Line 7: @@
 *A set of blocks chained together forms a ledger
 *Each copy of the ledger is complete i.e. it contains all the blocks in a chain so it contains all transactions recorded.
-*Copies of this ledger are distributed amongst owners
+*Copies of this ledger are distributed among owners
 *To alter a recorded transaction, all "owners" of the copies of a ledger must consent
 [[File:Blockchain.png|600px|Blockchain]]<br />
@@ Line 16: / Line 17: @@
-== Who Created Blockchain?<ref>Who Created Blockchain? [https://lisk.io/academy/blockchain-basics/what-is-blockchain Lisk]</ref> ==
+== Who Created Blockchain?<ref>[https://lisk.io/academy/blockchain-basics/what-is-blockchain Who Created Blockchain?]</ref> ==
-The first recorded mention of blockchain technology came in a document, or whitepaper, published in 2008 by the mysterious founder or founders of [[Bitcoin]], only known as Satoshi Nakamoto. Speculation about the true identity of this undeniably brilliant coder has continued to this day, with Nakamoto claiming in early correspondences to be a man living in Japan, born on 5th April 1975. However, due to his decision to document Bitcoin in English and his mastery of the language, the general belief in the blockchain community is that Nakamoto is of non-Japanese descent and either European or North American. As blockchain, and as such the Bitcoin network, is transparent, anyone can view Satoshi Nakamoto’s Bitcoin holding. He is known to currently hold roughly one million Bitcoins.
+There are several theories as to why Satoshi Nakamoto decided to remain anonymous, however, the general consensus is that he was a timid developer who simply did not wish for the attention that would have undoubtedly come with creating such a disruptive technology. It is also worth knowing that Satoshi Nakamoto did not build every aspect of the blockchain from scratch. In fact, none of the technologies used in the blockchain were particularly new and had been around for several years. However, it is when they are used in combination with one another that they create the revolutionary offering that is blockchain technology.
+== The Blockchain Technology<ref>[https://www.coindesk.com/information/what-is-blockchain-technology The Blockchain Technology]</ref> ==
-== The Blockchain Technology<ref>The Blockchain Technology [https://www.coindesk.com/information/what-is-blockchain-technology Coindesk]</ref> ==
+Blockchain represents an innovation in information registration and distribution that eliminates the need for a trusted party to facilitate digital relationships. Yet, blockchain technology, for all its merits, is not a new technology. Rather, it is a combination of proven technologies applied in a new way. It was the particular orchestration of three technologies (the Internet, private key cryptography, and a protocol governing incentivization) that made bitcoin creator Satoshi Nakamoto’s idea so useful.
@@ Line 34: / Line 33: @@
-== What Makes Blockchain Better for Business<ref>What Makes Blockchain Better for Business [https://www.ibm.com/blockchain/what-is-blockchain IBM]</ref> ==
+== What Makes Blockchain Better for Business<ref>[https://www.ibm.com/blockchain/what-is-blockchain What Makes Blockchain Better for Business]</ref> ==
 *It’s Distributed: Blockchain creates a shared system of record among business network members, eliminating the need to reconcile disparate ledgers.
 *It’s Permissioned: Each member of the network must have access privileges. Information is shared only on a need-to-know basis.
@@ Line 41: / Line 39: @@
 == References ==
 <references />

@@ Line 10: / Line 10: @@
-The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of [[value]]. <ref>What is Blockchain [Don & Alex Tapscott, Blockchain Revolution (2016)]</ref>
+The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. <ref>What is Blockchain [Don & Alex Tapscott, Blockchain Revolution (2016)]</ref>
 [[File:Blockchain.png|600px|Blockchain]]<br />
@@ Line 18: / Line 18: @@
 == Who Created Blockchain?<ref>Who Created Blockchain? [https://lisk.io/academy/blockchain-basics/what-is-blockchain Lisk]</ref> ==
-The first recorded mention of blockchain technology came in a document, or whitepaper, published in 2008 by the mysterious founder or founders of [[Bitcoin]], only known as Satoshi Nakamoto. Speculation about the true identity of this undeniably brilliant coder has continued to this day, with Nakamoto claiming in early correspondences to be a man living in Japan, born on 5th April 1975. However, due to his decision to document Bitcoin in English and his mastery of the language, the general belief in the blockchain community is that Nakamoto is of non-Japanese descent and either European or North American. As blockchain, and as such the Bitcoin [[network]], is transparent, anyone can view Satoshi Nakamoto’s Bitcoin holding. He is known to currently hold roughly one million Bitcoins.
+The first recorded mention of blockchain technology came in a document, or whitepaper, published in 2008 by the mysterious founder or founders of [[Bitcoin]], only known as Satoshi Nakamoto. Speculation about the true identity of this undeniably brilliant coder has continued to this day, with Nakamoto claiming in early correspondences to be a man living in Japan, born on 5th April 1975. However, due to his decision to document Bitcoin in English and his mastery of the language, the general belief in the blockchain community is that Nakamoto is of non-Japanese descent and either European or North American. As blockchain, and as such the Bitcoin network, is transparent, anyone can view Satoshi Nakamoto’s Bitcoin holding. He is known to currently hold roughly one million Bitcoins.
 There are several theories as to why Satoshi Nakamoto decided to remain anonymous, however the general consensus is that he was a timid developer who simply did not wish for the attention that would have undoubtedly come with creating such a disruptive technology. It is also worth knowing that Satoshi Nakamoto did not build every aspect of blockchain from scratch. In fact, none of the technologies used in blockchain were particularly new and had been around for several years. However, it is when they are used in combination with one another that they create the revolutionary offering that is blockchain technology.
@@ Line 25: / Line 25: @@
 == The Blockchain Technology<ref>The Blockchain Technology [https://www.coindesk.com/information/what-is-blockchain-technology Coindesk]</ref> ==
-Blockchain represents an [[innovation]] in information registration and [[distribution]] that eliminates the need for a trusted party to facilitate digital relationships. Yet, blockchain technology, for all its merits, is not a new technology. Rather, it is a combination of proven technologies applied in a new way. It was the particular [[orchestration]] of three technologies (the [[Internet]], private key cryptography and a protocol governing incentivization) that made bitcoin creator Satoshi Nakamoto’s idea so useful.
+Blockchain represents an [[innovation]] in information registration and distribution that eliminates the need for a trusted party to facilitate digital relationships. Yet, blockchain technology, for all its merits, is not a new technology. Rather, it is a combination of proven technologies applied in a new way. It was the particular orchestration of three technologies (the [[Internet]], private key cryptography and a protocol governing incentivization) that made bitcoin creator Satoshi Nakamoto’s idea so useful.
@@ Line 31: / Line 31: @@
 source: [https://www.coindesk.com/information/what-is-blockchain-technology Coindesk]
-The result is a [[system]] for digital interactions that does not need a trusted third party. The work of securing digital relationships is implicit — supplied by the elegant, simple, yet robust network [[architecture]] of blockchain technology itself.
+The result is a system for digital interactions that does not need a trusted third party. The work of securing digital relationships is implicit — supplied by the elegant, simple, yet robust network architecture of blockchain technology itself.
 == What Makes Blockchain Better for Business<ref>What Makes Blockchain Better for Business [https://www.ibm.com/blockchain/what-is-blockchain IBM]</ref> ==
-*It’s Distributed: Blockchain creates a shared system of record among [[business]] network members, eliminating the need to reconcile disparate ledgers.
+*It’s Distributed: Blockchain creates a shared system of record among business network members, eliminating the need to reconcile disparate ledgers.
 *It’s Permissioned: Each member of the network must have access privileges. Information is shared only on a need-to-know basis.
 *It’s Immutable: Consensus is required from all members and all validated transactions are permanently recorded. Even a system administrator can’t delete a transaction.

@@ Line 10: / Line 10: @@
-The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. <ref>What is Blockchain [Don & Alex Tapscott, Blockchain Revolution (2016)]</ref>
+The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of [[value]]. <ref>What is Blockchain [Don & Alex Tapscott, Blockchain Revolution (2016)]</ref>
 [[File:Blockchain.png|600px|Blockchain]]<br />
@@ Line 18: / Line 18: @@
 == Who Created Blockchain?<ref>Who Created Blockchain? [https://lisk.io/academy/blockchain-basics/what-is-blockchain Lisk]</ref> ==
-The first recorded mention of blockchain technology came in a document, or whitepaper, published in 2008 by the mysterious founder or founders of Bitcoin, only known as Satoshi Nakamoto. Speculation about the true identity of this undeniably brilliant coder has continued to this day, with Nakamoto claiming in early correspondences to be a man living in Japan, born on 5th April 1975. However, due to his decision to document Bitcoin in English and his mastery of the language, the general belief in the blockchain community is that Nakamoto is of non-Japanese descent and either European or North American. As blockchain, and as such the Bitcoin network, is transparent, anyone can view Satoshi Nakamoto’s Bitcoin holding. He is known to currently hold roughly one million Bitcoins.
+The first recorded mention of blockchain technology came in a document, or whitepaper, published in 2008 by the mysterious founder or founders of [[Bitcoin]], only known as Satoshi Nakamoto. Speculation about the true identity of this undeniably brilliant coder has continued to this day, with Nakamoto claiming in early correspondences to be a man living in Japan, born on 5th April 1975. However, due to his decision to document Bitcoin in English and his mastery of the language, the general belief in the blockchain community is that Nakamoto is of non-Japanese descent and either European or North American. As blockchain, and as such the Bitcoin [[network]], is transparent, anyone can view Satoshi Nakamoto’s Bitcoin holding. He is known to currently hold roughly one million Bitcoins.
 There are several theories as to why Satoshi Nakamoto decided to remain anonymous, however the general consensus is that he was a timid developer who simply did not wish for the attention that would have undoubtedly come with creating such a disruptive technology. It is also worth knowing that Satoshi Nakamoto did not build every aspect of blockchain from scratch. In fact, none of the technologies used in blockchain were particularly new and had been around for several years. However, it is when they are used in combination with one another that they create the revolutionary offering that is blockchain technology.
@@ Line 25: / Line 25: @@
 == The Blockchain Technology<ref>The Blockchain Technology [https://www.coindesk.com/information/what-is-blockchain-technology Coindesk]</ref> ==
-Blockchain represents an innovation in information registration and distribution that eliminates the need for a trusted party to facilitate digital relationships. Yet, blockchain technology, for all its merits, is not a new technology. Rather, it is a combination of proven technologies applied in a new way. It was the particular orchestration of three technologies (the Internet, private key cryptography and a protocol governing incentivization) that made bitcoin creator Satoshi Nakamoto’s idea so useful.
+Blockchain represents an [[innovation]] in information registration and [[distribution]] that eliminates the need for a trusted party to facilitate digital relationships. Yet, blockchain technology, for all its merits, is not a new technology. Rather, it is a combination of proven technologies applied in a new way. It was the particular [[orchestration]] of three technologies (the [[Internet]], private key cryptography and a protocol governing incentivization) that made bitcoin creator Satoshi Nakamoto’s idea so useful.
@@ Line 31: / Line 31: @@
 source: [https://www.coindesk.com/information/what-is-blockchain-technology Coindesk]
-The result is a system for digital interactions that does not need a trusted third party. The work of securing digital relationships is implicit — supplied by the elegant, simple, yet robust network architecture of blockchain technology itself.
+The result is a [[system]] for digital interactions that does not need a trusted third party. The work of securing digital relationships is implicit — supplied by the elegant, simple, yet robust network [[architecture]] of blockchain technology itself.
 == What Makes Blockchain Better for Business<ref>What Makes Blockchain Better for Business [https://www.ibm.com/blockchain/what-is-blockchain IBM]</ref> ==
-*It’s Distributed: Blockchain creates a shared system of record among business network members, eliminating the need to reconcile disparate ledgers.
+*It’s Distributed: Blockchain creates a shared system of record among [[business]] network members, eliminating the need to reconcile disparate ledgers.
 *It’s Permissioned: Each member of the network must have access privileges. Information is shared only on a need-to-know basis.
 *It’s Immutable: Consensus is required from all members and all validated transactions are permanently recorded. Even a system administrator can’t delete a transaction.

← Older revision		Revision as of 21:28, 7 March 2019
Line 23:		Line 23:


		+	== The Blockchain Technology<ref>The Blockchain Technology [https://www.coindesk.com/information/what-is-blockchain-technology Coindesk]</ref> ==

		+	Blockchain represents an innovation in information registration and distribution that eliminates the need for a trusted party to facilitate digital relationships. Yet, blockchain technology, for all its merits, is not a new technology. Rather, it is a combination of proven technologies applied in a new way. It was the particular orchestration of three technologies (the Internet, private key cryptography and a protocol governing incentivization) that made bitcoin creator Satoshi Nakamoto’s idea so useful.

−	===References===	+
		+	[[File:Blockchain1.png\|600px\|Blockchain Technology]]<br />
		+	source: [https://www.coindesk.com/information/what-is-blockchain-technology Coindesk]
		+
		+	The result is a system for digital interactions that does not need a trusted third party. The work of securing digital relationships is implicit — supplied by the elegant, simple, yet robust network architecture of blockchain technology itself.
		+
		+
		+	== What Makes Blockchain Better for Business<ref>What Makes Blockchain Better for Business [https://www.ibm.com/blockchain/what-is-blockchain IBM]</ref> ==
		+
		+	*It’s Distributed: Blockchain creates a shared system of record among business network members, eliminating the need to reconcile disparate ledgers.
		+	*It’s Permissioned: Each member of the network must have access privileges. Information is shared only on a need-to-know basis.
		+	*It’s Immutable: Consensus is required from all members and all validated transactions are permanently recorded. Even a system administrator can’t delete a transaction.
		+
		+
		+
		+
		+	== References ==
	<references />		<references />

@@ Line 15: / Line 15: @@
 Source: [https://blockgeeks.com/guides/what-is-blockchain-technology/ Blockgeeks]
-Blockchain was invented by Satoshi Nakamoto in 2008 for use in the cryptocurrency bitcoin, as its public transaction ledger.<ref>Who invented Blockchain? [https://en.wikipedia.org/wiki/Blockchain Wikipedia]</ref>
 ===References===
 <references />