BLOCKCHAIN
What Is the Blockchain? Some say that the Blockchain is a chain of blocks. It sounds funny in the beginning, but after the first impression, this sentence brings many questions: "What is a chain?", "What is a block?", "What kind of information does the block contain?", etc Historical Overview Imagine this is 1998, and you have just read a paper published by an engineer called Wei Dai, which describes a new electronic cash system that is based on a protocol which does not require any real money or checks to transfer funds from one account to another. This was an era before the credit cards became so popular and before PayPal (PayPal was established in December 1998 as Confinity). B Money Wei Dai claims that a community should own the money, not one centralized organization, company, or individual, and the owners should be anonymous. All parties are identified only by a number or a public key. The system described by Wei Dai and inspi...