The document discusses a new technology called blockchain which maintains a growing list of records, called blocks, that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. This allows blockchain to act as a decentralized, distributed ledger that can record transactions between parties efficiently and in a verifiable and permanent way without the need for a central authority. The blockchain network is collectively maintained by its users, allowing for the decentralized verification of each transaction without the need for intermediaries like banks.
The document discusses a new technology called blockchain which maintains a growing list of records, called blocks, that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. This allows blockchain to act as a decentralized, distributed ledger that can record transactions between parties efficiently and in a verifiable and permanent way without the need for a central authority. The blockchain network is collectively maintained by its users, allowing for the decentralized verification of each transaction without the need for intermediaries like banks.
The document discusses a new technology called blockchain which maintains a growing list of records, called blocks, that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. This allows blockchain to act as a decentralized, distributed ledger that can record transactions between parties efficiently and in a verifiable and permanent way without the need for a central authority. The blockchain network is collectively maintained by its users, allowing for the decentralized verification of each transaction without the need for intermediaries like banks.
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