Blockchain Platforms
- (Stanford University - Alvin Wei-Cheng Wong)
- Overview
A blockchain is a secure database shared among a network of participants, all of whom have simultaneous access to up-to-date information. Blockchain is a technology that enables secure sharing of information. Obviously, the data is stored in a database. Transactions are recorded in books of accounts called ledgers.
A blockchain is a distributed database or ledger (one of today's top technology trends), which means that the power to update the blockchain is distributed among nodes or participants in a public or private computer network. This is known as distributed ledger technology (DLT). Nodes are incentivized by digital tokens or currencies to update the blockchain.
Blockchain allows for permanent, immutable and transparent recording of data and transactions. In turn, this makes it possible to exchange anything of value, whether tangible or intangible.
[More to come ...]
