Blockchain Gambling: Stepping Up The Game

The technology underpinning Bitcoin – the blockchain – has already been described as the technology which could be even more disruptive than Amazon was two decades ago.¹ Simply put, blockchain is a decentralised ledger which records transactions. These transactions are then shared amongst the network of users of the same database, who verify the accuracy of such transactions. New transactions are added in new blocks and connected to the previous blocks on the chain, meaning that a blockchain grows over time and contains a detailed history of all the transactions that have taken place. When new blocks are created, they are "timestamped" which allows the viewers of the ledger to ascertain the order in which the transactions have occurred. This, amongst other features, ensures the security of the data contained in that block and makes it unchangeable.