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What is blockchain?

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  What is blockchain? Blockchain is a secure database shared across a network of participants, where up-to-date information is available to all participants at the same time. Blockchain is one of the major tech stories of the past decade. But beneath the surface chatter there’s not always a deep, clear understanding of what blockchain is, how it works, or what it’s for. Despite its reputation for impenetrability, the basic idea behind blockchain is pretty simple. And it has major potential to change industries from the bottom up. A blockchain has three central attributes: First, a blockchain database must be cryptographically secure. That means you need two cryptographic keys to access or add data on the database: a public key, which is basically the address in the database, and the private key, which is an individualized key that must be authenticated by the network. Next, a blockchain is a digital log or database of transactions, meaning it happens ful...
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Blockchain: What It Is, How It Works, Why It Matters

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  Blockchain: What It Is, How It Works, Why It Matters Blockchain technology is an immutable ledger that stores the record of ownership of digital assets. Blockchain technology is a decentralized, distributed ledger that stores the record of ownership of digital assets. Any data stored on blockchain is unable to be modified, making the technology a legitimate disruptor for industries like payments, cybersecurity and healthcare.   What Is Blockchain? Blockchain is an immutable digital ledger that enables secure transactions across a peer-to-peer network. It records, stores and verifies data using decentralized techniques to eliminate the need ...
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Distributed Ledger Technology: A Comprehensive Overview

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Distributed Ledger Technology: A Comprehensive Overview Introduction If you’ve been following cryptocurrencies and blockchain, you’ve heard about distributed ledger technology (DLT). Although the idea of distributed computing isn’t entirely new, the execution of distributed ledgers is one of the most ingenious inventions of our time. Distributed ledgers didn’t gain popularity until 2008 when the first cryptocurrency was created. Since then, they have evolved into programmable and scalable platforms where tech solutions that use ledgers and databases can be created. In very simple terms, distributed ledger technology may be defined as tech protocols and infrastructure that allow concurrent access to records, updates, and validations across a network of databases. In this article, we explore the differences between DLTs and blockchain and explain their be...
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Distributed Ledger Technology: What Is It and Why Do We Care?

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  Distributed Ledger Technology: What Is It and Why Do We Care? Distributed Ledger Technology (DLT), often referred to as blockchain, has garnered a lot of attention in the past few years. Is it just “a solution in search of a problem” or, does it offer answers for real-world policy questions such digital identity and remittances? This six-blog series, by Rodrigo Mejia Ricart and Camilo Tellez, aims to foster a better understanding of the technology. The first three blogs discuss what is DLT, the debate around key stated benefits and the evidence around different use cases. The last three blogs discuss DLT for digital identity, supply chain and remittances in detail. Bitcoin is the most famous use-case for DLT and it boomed in 2017. The price of the cryptocurrency started the year at US$900 and peaked at nearly US$20,000 per bitcoin. Other cryptocurrencies also experienced exponential growth. Many DLT enthusiasts saw this rush as conf...
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Blockchain Technology Explained | What is Blockchain and How Does It Work?

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  Blockchain Technology Explained | What is Blockchain and How Does It Work? What is Blockchain and How Does It Work? The invention of Bitcoin in 2008 propelled a technological innovation. Blockchain technology , the reason behind the success of Bitcoin, is one of the most explored technological solutions of this century. Although it was invented in 1991, blockchain technology first gained significance with the development of Bitcoin. In the aftermath of the 2008 financial crisis, Bitcoin became an alternative to the existing financial ecosystem. More than a decade later, researchers continue to explore blockchain technology for a multitude of domains across numerous industries. Per a report by the World Economic Forum, around 10% of the global GDP will rest on blockchain technology by 2025. In this “blockchain technology explained” guide, we seek to understand blockchain technology, its key principles, and how it works. Why Blockchain Matters? Current...
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What Is Blockchain? A Beginner’s Guide for 2025

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  What Is Blockchain? A Beginner’s Guide for 2025 Over the past few decades, blockchain has evolved from a curious technology buzzword to a bold new frontier for our collective digital infrastructure. Its potential has transcended industries and has the power to revolutionize everything from healthcare to online gaming.  But what is blockchain? Broadly speaking, a blockchain is a highly secure, communal chain of data that helps business networks exchange assets, store information, and record transactions. These digital ledgers make use of consensus and permanent record-keeping to make such processes more efficient, trustworthy, and safe for all involved parties.  Here, we will provide a comprehensive overview of blockchain for beginners, examining the technology’s history, current array of uses, and growing list of functional characteristics. We will also outline a few educational options for learning blockchain en rou...
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Blockchain in Cryptocurrency: Beginner Guide and Career Outlook

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  Blockchain in Cryptocurrency: Beginner Guide and Career Outlook Since digital currencies and blockchain technologies are developing rapidly, professionals with knowledge of blockchain are in high demand. Applying this expertise to different areas can help you unlock opportunities in your current role or start a fast-paced career working with decentralized finance (DeFi) technologies. In the following article, you'll learn what blockchain is and how it relates to cryptocurrency. Looking for a comprehensive introduction to blockchain and cryptocurrency? Consider enrolling in the beginner-friendly, 17-hour online course, Blockchain, Cryptoassets, and Decentralized Finance. By the end, you'll understand how blockchain disrupts eight of the core functions of traditional financial services and be able to describe seven different types of crypto assets. What is blockchain technology? Understanding the blockchain is fundamental to understanding cryptocurrency exchange. ...
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