What is the blockchain?

Blockchain is a distributed database that records transaction data in an unchangeable ledger, which can be accessed by anyone at any time and is secured by multiple parties. Developed in 2008 by Satoshi Nakamoto, blockchain manages to create a database without the need of central authority. Blockchain is a public and transparent digital ledger of all transactions that are recorded and registered simultaneously. The blockchain database provides a reference record of all transactions during a defined period of time by using cryptography and hash functions to ensure security.

Blockchain is a cryptocurrency technology that utilizes a blockchain database. In simple terms, a blockchain is a chain of connected databases where the data are held in "ledgers" (also called blocks) that are connected in chronological order, hence the name: "block chain".

Blockchain technology is considered the greatest innovation of the 21st century and is set to revolutionize the way businesses operate. At its core, blockchain was built to give people a trusted, fast and secure way of exchanging data and money. But did you know that blockchain can also be used to manage your IT operations?