The Blockchain Technology


The Blockchain Technology
The Blockchain technology will revolutionize the world just like the Internet.
A blockchain is a continuously expandable list of data sets that are linked to each other using cryptographic methods. The special thing about it, is that the technology and functions are organized decentrally, so there are no intermediaries.

Blockchain can be used in the following three ways:
1. for active transfer (money, shares...)
2. for better traceability of assets and products
3. to execute legal contracts automatically (Smart Contracts).

The information is stored in the form of blocks (transactions, owner titles, contracts...) and is protected by cryptographic procedures that prevent the user from changing them afterwards.
The best known form of blockchain technology is the Bitcoin. He was created in 2009 by a stranger under the pseudonym Satoshi Nakamoto.