Blockchains

Extracted Attributes

• Types

  Public, Private, Permissioned

• Core Structure

  Chain of cryptographically linked blocks

• Key Properties

  Decentralized, transparent, immutable (resistant to alteration), secure by design, high Byzantine fault tolerance

• Technology Type

  Distributed Ledger Technology (DLT)

• Block Components

  Cryptographic hash of previous block, timestamp, transaction data

• Initial Problem Solved

  Double-spending problem without a central authority

• Modern Platform Example

  Solana

• Future Impact (Predicted)

  Enabling Internet Capital Markets, embedding finance into software

• Primary Initial Application

  Bitcoin transactions

Timeline

• Concept created by Satoshi Nakamoto and implemented as the public distributed ledger for Bitcoin. (Source: Provided Summary, Wikipedia)

  2008-01-01

• Predicted generational inflection point for finance with the rise of Internet Capital Markets, enabled by modern blockchains (as per Kyle Samani). (Source: Related Documents)

  2025-01-01

Blockchain

The blockchain is a distributed ledger with growing lists of records (blocks) that are securely linked together via cryptographic hashes. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree, where data nodes are represented by leaves). Since each block contains information about the previous block, they effectively form a chain (compare linked list data structure), with each additional block linking to the ones before it. Consequently, blockchain transactions are resistant to alteration because, once recorded, the data in any given block cannot be changed retroactively without altering all subsequent blocks and obtaining network consensus to accept these changes. Blockchains are typically managed by a peer-to-peer (P2P) computer network for use as a public distributed ledger, where nodes collectively adhere to a consensus algorithm protocol to add and validate new transaction blocks. Although blockchain records are not unalterable, since blockchain forks are possible, blockchains may be considered secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. A blockchain was created by a person (or group of people) using the name (or pseudonym) Satoshi Nakamoto in 2008 to serve as the public distributed ledger for bitcoin cryptocurrency transactions, based on previous work by Stuart Haber, W. Scott Stornetta, and Dave Bayer. The implementation of the blockchain within bitcoin made it the first digital currency to solve the double-spending problem without the need for a trusted authority or central server. The bitcoin design has inspired other applications and blockchains that are readable by the public and are widely used by cryptocurrencies. The blockchain may be considered a type of payment rail. Private blockchains have been proposed for business use. Computerworld called the marketing of such privatized blockchains without a proper security model "snake oil"; however, others have argued that permissioned blockchains, if carefully designed, may be more decentralized and therefore more secure in practice than permissionless ones.

Web Search Results

• Blockchain Facts: What Is It, How It Works, and How It Can ...

  Blockchain is a decentralized digital database or ledgerthat securely stores records across a network of computers in a way that is transparent, immutable,

• How does blockchain work? - Stanford Online

  Blockchain use cases are growing as industries recognize the potential applications of blockchain technologies in different systems, from tracking data, information and asset transactions, to privacy. From Bitcoin to Ethereum (ether) to the thousands of other digital currencies currently on the market, cryptocurrencies continue to be the most popular use for blockchain technology and data management – but there are rapidly developing industries that may already be impacted by the trajectory of these technologies. From smart contract functions to the adoption of crypto currencies as legal tender – Sri Lanka adopting Bitcoin as discussed in free Stanford Online webinar, "The Future of Blockchain and Cryptocurrencies,” for example – signals the long term effects of blockchain technology.

• What is Blockchain Technology?

  Blockchain technology is an advanced database mechanismthat allows transparent information sharing within a business network. A blockchain database stores

• What Is Blockchain? | IBM

  [](https://www.ibm.com/think/topics/blockchain) Blockchain operates as a decentralized distributed [database](https://www.ibm.com/think/topics/database), with data stored across multiple computers, making it resistant to tampering. This structure guarantees data integrity and provides a tamper-proof record, making blockchain ideal for applications like cryptocurrencies and [supply chain management](https://www.ibm.com/think/topics/supply-chain-management). [](https://www.ibm.com/think/topics/blockchain) [](https://www.ibm.com/think/topics/blockchain) [](https://www.ibm.com/think/topics/blockchain) [](https://www.ibm.com/think/topics/blockchain) Public key [cryptography](https://www.ibm.com/think/topics/cryptography) is a method used to secure transactions and data on the blockchain by leveraging two cryptographic keys: a public key and a private key. [](https://www.ibm.com/think/topics/blockchain) [](https://www.ibm.com/think/topics/blockchain) [](https://www.ibm.com/think/topics/blockchain) [](https://www.ibm.com/think/topics/blockchain) [](https://www.ibm.com/think/topics/blockchain) [](https://www.ibm.com/think/topics/blockchain) Combining [blockchain and AI](https://www.ibm.com/think/topics/blockchain-ai) creates new opportunities for businesses across various industries. Using blockchain’s immutable ledger and decentralization, AI can improve data transparency and security, addressing challenges like [explainable AI](https://www.ibm.com/think/topics/explainable-ai). [](https://www.ibm.com/think/topics/blockchain) Related solutions

• Blockchain

  [Jump to content](https://en.wikipedia.org/wiki/Blockchain#bodyContent) * [Random article](https://en.wikipedia.org/wiki/Special:Random "Visit a randomly selected article [x]") [Search](https://en.wikipedia.org/wiki/Special:Search "Search Wikipedia [f]") * [Contributions](https://en.wikipedia.org/wiki/Special:MyContributions "A list of edits made from this IP address [y]") * [(Top)](https://en.wikipedia.org/wiki/Blockchain#) * [1 History](https://en.wikipedia.org/wiki/Blockchain#History) * [2.1 Blocks](https://en.wikipedia.org/wiki/Blockchain#Blocks) * [2.1.1 Block time](https://en.wikipedia.org/wiki/Blockchain#Block_time) * [2.2 Decentralization](https://en.wikipedia.org/wiki/Blockchain#Decentralization) * [2.2.1 Finality](https://en.wikipedia.org/wiki/Blockchain#Finality) * [2.3 Openness](https://en.wikipedia.org/wiki/Blockchain#Openness) * [2.4 Standardisation](https://en.wikipedia.org/wiki/Blockchain#Standardisation) * [3 Types](https://en.wikipedia.org/wiki/Blockchain#Types)Toggle Types subsection * [3.1 Public blockchains](https://en.wikipedia.org/wiki/Blockchain#Public_blockchains) * [3.2 Private blockchains](https://en.wikipedia.org/wiki/Blockchain#Private_blockchains) * [3.4 Sidechains](https://en.wikipedia.org/wiki/Blockchain#Sidechains) * [4 Uses](https://en.wikipedia.org/wiki/Blockchain#Uses) * [5 Cryptocurrencies](https://en.wikipedia.org/wiki/Blockchain#Cryptocurrencies)Toggle Cryptocurrencies subsection * [5.2 Financial services](https://en.wikipedia.org/wiki/Blockchain#Financial_services) * [5.3 Games](https://en.wikipedia.org/wiki/Blockchain#Games) * [5.6 Other uses](https://en.wikipedia.org/wiki/Blockchain#Other_uses) * [8.2 Collaboration](https://en.wikipedia.org/wiki/Blockchain#Collaboration) * [8.4 Testnet](https://en.wikipedia.org/wiki/Blockchain#Testnet) * [8.5 Mainnet](https://en.wikipedia.org/wiki/Blockchain#Mainnet) * [8.6 Journals](https://en.wikipedia.org/wiki/Blockchain#Journals) * [9 See also](https://en.wikipedia.org/wiki/Blockchain#See_also) * [10 References](https://en.wikipedia.org/wiki/Blockchain#References) * [11 Further reading](https://en.wikipedia.org/wiki/Blockchain#Further_reading) * [12 External links](https://en.wikipedia.org/wiki/Blockchain#External_links) * [Blockchains](https://en.wikipedia.org/wiki/Category:Blockchains "Category:Blockchains") 87 languages[Add topic](https://en.wikipedia.org/wiki/Blockchain#)