A Simple Guide to Understanding Blockchain
A simplistic explanation of what is Blockchain and how it works
You are in a grocery store and scan the QR code on your favorite coffee. You can view the details of where the coffee beans grew, cleaned, triaged, processed, and then roasted. what-if you can trace the supply and distribution to know the means of transport and how long it took to arrive at the store and so forth
Is there a technology that can help record information at each step and make that information available to everyone transparently?
Welcome to the world of Blockchain
Blockchain is an immutable, distributed, decentralized; peer-to-peer ledger replicated across multiple nodes connected in a network, making it possible to record data about any event or transaction as it happens. It consists of blocks in a chain used to record as digital assets using a secure algorithm.
Bitcoin as a concept was first proposed by Satoshi Nakamoto through a white paper in 2008
