“What is Blockchain Technology?” – this is the question that more and more people ask nowadays. Learn more about blockchain: http://pragmaticcoders.com/blog/what-is-blockchain/

1. BY JAKUB STEFANSKI
Senior Software Engineer, Pragmatic Coders
WHAT IS
BLOCKCHAIN
TECHNOLOGY?

2. – this is the question that more and more people ask nowadays.
Since its advent in 2009, it has steadily risen in popularity and adoption. It is
predicted to disrupt the value flows and create new business models.
“What is Blockchain Technology?”

3. DEFINITION
We can define blockchain as a combination of proven technologies
applied in a new way. It combines the Internet, asymmetric
cryptography and governing incentivization to provide information
registration and distribution that eliminates the need for a trusted
party. It makes flow of value without intermediaries easy and
secure.
The blockchain is a database in a form of digital ledger. It contains
a continuously growing list of data records that are chained together
against revision and tampering. Records are arranged in data
batches called “blocks” and each block is connected to the previous
one by a hashing function, forming a chain of blocks that cannot be
altered.
BLOCKCHAIN

4. The ledger is not stored in a single
location or managed by any particular
company. The cryptographic linking
between blocks ensures data immutability.
It is public and easily verifiable because it
is hosted by millions of computers
simultaneously. Anyone can maintain a
copy of it and verify its correctness.
Digital Trust
In other words, servers and clouds are replaced by
a vast number of “nodes” run by volunteers from
across the globe. This provides resilience and trust
without any central third party.

5. Originally Blockchain has been developed
along Bitcoin which allows only peer-to-peer
payments between its users.
However, Blockchain proved to be highly
useful in a large variety of applications
beyond cryptocurrencies.
What can you do with
blockchain technology?

6. JAKUB STEFANSKI SENIOR SOFTWARE ENGINEER AT:
PRAGMATIC CODERS
AGILE, PRODUCT-ORIENTED, THE INNOVATION-FOCUSED
SOFTWARE HOUSE THAT PROVIDES BLOCKCHAIN, PYTHON,
AND JAVA DEVELOPMENT SERVICES.
www.pragmaticcoders.com - contact@pragmaticcoders.com
ABOUT THE AUTHOR:

7. Bolckchain
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