What is blockchain? Over a series of small blog posts, I'll try to provide quick 1-minute insights into blockchain.

Blockchain is:

  • Decentralized ledger or distributed ledger.
  • Managed by a peer-to-peer network of nodes.
  • Reduces the need for 3rd party intermediaries or middlemen.
  • Linked and secured using cryptography.
  • Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.
  • Resistant to tampering or modification of data.
  • Tampering is detected and rejected as hash link is corrupted.
  • Bitcoin is the first use case leveraging blockchain.


Click here for Part 2 of 5.