Fundamentally a type of distributed database that maintains a continuously-growing list of ordered records called blocks. Each block contains a temporal order and a link to a previous block. One salient feature of a blockchain is resistance to modification of data, once an input has been recorded the data in that block cannot be retroactively altered.
A distributed computing platform built on an open-source, public, blockchain-based infrastructure, it features the capacity the execute turing-complete programmatic scripts known as smart contracts. The decentralized virtual machine upon which these contracts are executed is know as the Ethereum Virtual Machine (EVM).
The world’s first and most successful blockchain project, a worldwide cryptocurrency and a payment system invented by Satoshi Nakamoto in 2008. The system is peer-to-peer and transactions take place between users directly, without the need for a trusted intermediary. Each transaction is independently verified by network nodes and recorded in a public distributed ledger. viz. blockchain.
Is an open source project to develop a generally applicable blockchain-based distributed ledger platform. The effort is centered around an initiative that spans multiple industries focused on ledgers designed to support global business transactions, including major technological, financial, and supply chain companies, with the goal of improving current pitfalls of performance and reliability.
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The term cryptocurrency denotes a digital asset engineered to work as a medium of exchange and store of value. Using public key cryptography to secure the transactions and to control the creation of additional units, the technology facilitates the creation of novel business models and use cases, from micropayments to online gambling.
Smart contracts and extensible applications such as smart property are computer protocols that facilitate, verify, or enforce the negotiation or execution of an agreement between counterparties such that it is made partially or fully self-executing, self-enforcing, or both. Smart contracts often emulate the logic of contractual clauses. Smart contracts aim to provide security superior to traditional contract law and to reduce other transaction costs associated with contracting. These type of contracts have been traditionally drafted by lawyers.