BUSINESS INSIDER: What is blockchain? All you need to know

A system that can't be cracked and has the potential to transform industries.

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Norbert Biedrzycki Business Insider Blockchain

My article in BUSINESS INSIDER published 29 December 2016.

Blockchain is a technology used to store and transfer information on Internet transactions arranged into successive data blocks. A single block contains data on a specific transaction. Once a block fills up with data, another one is created, followed by another and yet another, until an entire chain is formed. A new block appears in a blockchain every 10 minutes on average. A block may be used to send information on multiple transactions that concern commercial deals, ownership titles, company shares, the sale and purchase of electrical energy and the purchase or sale of currencies, including cryptocurrencies (i.e. electronic currencies).

 

Link to the full article (in Polish)

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2 comments

  1. Mac McFisher

    Ethereum has a unique advantage in the cryptocurrency market in that it offers a Turing-complete scripting language to integrate applications on chain with smart contracts. This has seeded a vast array of startups and projects that use it for interesting and varied applications. It’s even garnered attention from the likes of Microsoft for use with their “Blockchain as a Service” platform, Azure. Before Ethereum, altcoins have essentially been interchangeable with Bitcoin, offering only incremental “improvements” regarding different features and technologies, and have fallen by the wayside as Bitcoin has gained adoption and popularity.

    • Jacek B2

      Ethereum hit a major milestone reaching a market cap of 1 Billion US Dollars. Ethereum has enjoyed explosive growth since announcement of the “Homestead” beta phase of development, with a 22% jump in active nodes in a single day, and steady growth since.