What is Blockchain?

Blockchain.

Blockchains are most commonly associated with cryptocurrency and Bitcoin in particular. Every user is able to connect to the network, send new transactions to it, verify transactions and create new blocks.

The creation of the first Blockchain is believed to have come from Satoshi Nakamoto in 2008.  The following year it appeared as a core component of Bitcoin. Nakamoto is the name of the person or persons that designed bitcoin – but no one really knows who that person is.

An Australian entrepreneur called Craig Wright claimed in 2016 to be the Bitcoin creator.

The idea of a cryptographically secured chain of blocks was first described in 1991 by Stuart Haber and W. Scott Stornetta.

Name of Technology:

Blockchain

Year Introduced:

1991

Invented by :

Satoshi Nakamoto

Open Source or Proprietary:

Open source

Main technology category:

Database

Patent:

Yes

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