JSH Ep. #33: What is Blockchain Technology???
![JSH Ep. #33: What is Blockchain Technology???](https://d3wo5wojvuv7l.cloudfront.net/t_square_limited_480/images.spreaker.com/original/52d5d23ecae0494773afe8cd810578b0.jpg)
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Description
You hear a lot about cryptos and digital currencies. But what about the technology that powers them? On Spreaker and Apple podcasts, the full episode of Jeremy Speaks Here will...
show moreOn Spreaker and Apple podcasts, the full episode of Jeremy Speaks Here will break down some of the verbiage behind the technology known as Blockchain. For full episodes of Jeremy Speaks, join me Monday through Friday 6:30pm EST on Spreaker, Apple Podcasts and Soundcloud
KEY TAKEAWAYS
Blockchain is a specific type of database.
It differs from a typical database in the way it stores information; blockchains store data in blocks that are then chained together.
As new data comes in it is entered into a fresh block. Once the block is filled with data it is chained onto the previous block, which makes the data chained together in chronological order.
Different types of information can be stored on a blockchain but the most common use so far has been as a ledger for transactions.
In Bitcoin’s case, blockchain is used in a decentralized way so that no single person or group has control—rather, all users collectively retain control.
Decentralized blockchains are immutable, which means that the data entered is irreversible. For Bitcoin, this means that transactions are permanently recorded and viewable to anyone.
Information
Author | Jeremy |
Organization | Jeremy Speaks Here |
Website | - |
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