Blockchain

A blockchain is a distributed, expandable computing architecture on the Internet, where records of assets or exchange are stored. It combines the BitTorrent protocol, which allows peer-to-peer networking, and public-key cryptography. It was first introduced as the underlying technology of the cryptocurrency Bitcoin, which was launched in 2009, serving as its digital cash account book. Hence, initial attention was drawn to the presumable impact on the financial world as it renders intermediaries, such as banks, between transactions obsolete. But even after a decade of introduction, the vast scope of application is yet to be seen and development is still in an early stage. The potential of blockchain technology is disputed; some say its mode of decentralization is destined for becoming the next milestone after the ...