What is blockchain?

Australian T3 - - HORIZON -

AIt’s as dull as it is baf­fling, Matthew. Blockchain is es­sen­tially a big se­cure pub­lic spread­sheet, au­to­mat­i­cally pop­u­lated when a trans­ac­tion is made with the pre­cise time and value of that trans­ac­tion. When a net­work of com­put­ers op­er­ates on a blockchain, the thing is up-to­date by de­fault, and each ma­chine knows what the other has done.

Blockchain’s in­volve­ment in Bit­coin means ev­ery trans­ac­tion can (the­o­ret­i­cally) be traced, and no two peo­ple can have the same coin at one time. It’s break­ing off into other ar­eas of tech, like en­ergy and medicine, so it’s great, but GaGu laments not be­ing able to make silly jokes about it.

ABOVE Of course we know what Blockchain is. It’s all about blocks and, er, chains, right?

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