A Little Review
In my last
blog about the blockchain, I talked a bit about what blockchain
technology is and how it could be useful. Just as a reminder, a
blockchain is a peer-to-peer managed, publicly readable secure
database, located in multiple, but isolated/independent, places on
the Internet. The data recorded by the blockchain keep on expanding
and nothing gets dropped. Every event is date-stamped, encrypted
and exceptionally hard to tamper with. (In fact, tampering with
blockchain data is like setting a fire on a football field. Not
everyone will see the same thing, but everyone will know that
there's a fire.) As a result, each "entry" in a
blockchain ledger is broadcast to every node on the network, which
validates and rebroadcasts it. So the blockchain is evidence of
"consensus" that all the data are correct.
