Corstet: Cryptocurrency #2 - What Is Blockchain?

Today, Dr. Corsi continues his new series exploring the development, realities, and future of "cryptocurrency." The world of finance has not been the same since the introduction of the computer. Digital technology takes finance to an exponentially higher level.

A blockchain is in essence just a list of timestamped records (data blocks), linked to one another via cryptographic means.

Timestamping proves that the transaction data existed when the block was initiated. One block builds upon another forming a chain of additional blocks, each reinforcing the prior blocks. This makes blockchains resistant to data modification. Once recorded, a data block cannot be changed retroactively without altering all of the subsequent blocks.

Regardless of the direction digital currency heads, whether de-centralized or government controlled it is the reality of the brave new world into which we are all headed.

Knowledge is power, and ignorance is bliss. Choose power: Go to www.corstet.com and then do your own research and make your own conclusions and decisions.