Technology

What Is Blockchain?

Blockchain is the innovative database technology that’s at the heart of nearly all cryptocurrencies. By distributing identical copies of a database across an entire network, blockchain makes it very difficult to hack or cheat the system. While cryptocurrency is the most popular use for blockchain at present, the technology offers the potential to serve a very wide range of applications. At its core, blockchain is a distributed digital ledger that stores data of any kind. A blockchain can record information about cryptocurrency transactions and ownership of Non-Fungible Tokens (NFTs). While any conventional database can store this sort of information, blockchain is unique in that it’s decentralized.

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OODA Analyst

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