What is a blockchain, and when was it invested? Our co-founder and CTO, Barton Johnston, walks us through a few vital questions any blockchain enthusiast should know.
Blockchain is a system that was developed to help computers come to a consensus about information. It enables people to send data and transactions between each other, away from third party control.
When was it invented? Blockchain was developed based on several older technologies in a new way, by who goes under the name of Satoshi Nakamoto, whether it’s a team or an individual. The main reason Satoshi Nakamoto created the blockchain technology was Bitcoin.
What is it NOT? It’s not like centralized systems. The blockchain is a unique system, which enables everybody to use it without being censored by anyone.
When and why you consider using blockchain? People can use the blockchain technology when they want to agree on what’s real and who owns what.
Do you have a question about the blockchain technology? Leave a comment down below, and we will answer it.
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