Blockchain definition
Definition
A distributed ledger technology that records transactions in blocks linked chronologically and secured through cryptography
Blockchain was first conceptualized by Satoshi Nakamoto in 2008 as the foundation for Bitcoin, revolutionizing finance by enabling peer-to-peer electronic cash transfers without intermediaries. Today, it supports diverse applications beyond currency, including supply chain tracking and voting systems. Key Resources: Original Bitcoin Whitepaper: Published October 31, 2008. Block Structure: Header (80 bytes) + Transaction data (variable). Average Block Size: Bitcoin ~1.3MB, Ethereum ~80KB. Technical Specifications: Each block contains: timestamp, nonce, merkle root, previous block hash, and transaction data. The chain is maintained by thousands of nodes globally.
Blockchain was first conceptualized by Satoshi Nakamoto in 2008 as the foundation for Bitcoin, revolutionizing finance by enabling peer-to-peer electronic cash transfers without intermediaries. Today, it supports diverse applications beyond currency, including supply chain tracking and voting systems. Key Resources: Original Bitcoin Whitepaper: Published October 31, 2008. Block Structure: Header (80 bytes) + Transaction data (variable). Average Block Size: Bitcoin ~1.3MB, Ethereum ~80KB. Technical Specifications: Each block contains: timestamp, nonce, merkle root, previous block hash, and transaction data. The chain is maintained by thousands of nodes globally.
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