Blockchains What is a blockchain? ▪A growing list of records, called blocks , which are linked sing cryptography ▪Each block contains a cryptographic hash of the previous lock, timestamp, and transaction data ▪Invented by Satoshi Nakamoto in 2008 to serve as the public transaction ledger of the cryptocurrency bitcoin ▪Three main components: a distributed network, a shared ledger and digital transactions Characteristics of a blockchain ▪ An open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way ▪ Is resistant to modification of the data ▪ Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks Uses of blockchain ▪ Cryp...
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