Except for those folks living under rocks (sounds uncomfortable), everyone knows about or at least has heard of bitcoin. However, not everyone understands the technology of bitcoin, which extends well beyond Internet-based currency.
For the rock people, bitcoin is an Internet-based currency that allows for transparency with respect to each transfer of the currency through the use of a distributed database. Each transaction is locked in a block, and blocks are connected to form a “blockchain.”
What Is Blockchain?
Blockchain is an open source technology that facilitates creating each block, locking each block, and connecting the resulting
string of blocks. Because it is a write-only database that never can be edited or deleted, the blockchain gives integrity to the
complete history of the transaction.