GlossaryBeginner
Blockchain
A shared, tamper-evident record of information maintained by many computers at once.
A blockchain is a shared record of information that many computers keep identical copies of. New information is added in groups called blocks, and each block links back to the one before it, forming a chain that makes past changes easy to detect.
Instead of one company or person controlling the only master copy, participants in the network agree on updates together, which reduces reliance on trusting a single central authority.
Examples
- Bitcoin uses a blockchain to record who owns and transfers units of the currency.
- Ethereum uses a blockchain to record both transactions and the state of smart contracts.