Invented in 2008, blockchain was built to serve as the public transaction ledger for bitcoin. Blockchain helped ensure bitcoin couldn’t be spent more than once by the same person, all without a central server or trusted authority.
Now, blockchain is being used for other applications in various industries, including land registration, non-profits, banks, governments, and more. According to The Economist, there are “efforts to build an alternative to the bitcoin blockchain, one that might be optimised for the storing of distributed ledgers rather than for the running of a cryptocurrency.”
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