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What is the Blockchain?

Today there is a lot of talk about Blockchain technology.

The applications of the Blockchain, which will prepare many innovations in many sectors, are often characterized by the need not to have intermediation and decentralization costs. This new technology makes it possible to do without banks, financial institutions, notaries and bureaucracy in general.

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Blockchains are part of the broader family of Distributed Ledger technologies, systems that are based on a distributed ledger, which can be modified and read by multiple nodes on a network. To validate the processes to be carried out in the registry, in the absence of a central body, the nodes must reach consensus.

The ways in which consensus is  reached and the structure of the register are characteristics that distinguish the various Distributed Ledger technologies.

 

The Blockchain is a set of technologies, in which the ledger is formed by a chain of many blocks containing the transactions and the consensus is distributed on all the nodes of the network. All nodes can contribute to the validation of transactions to be included in the ledger.

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