blockchain

American  

[blok-cheyn] / ˈblɒkˌtʃeɪn /

noun

Computers.

1. a structure used for a distributed or shared database consisting of discrete blocks of data, with each new block secured and connected to earlier ones by cryptography: used to create digital ledgers for cryptocurrency systems, among other things.

   Several schools now offer courses in the technology behind blockchain.

   Under the scheme, farmers would add information about their produce to a blockchain database that could quickly pinpoint contamination.

2. a distributed or shared database created and populated using a structure consisting of discrete blocks of data, with each new block secured and connected to earlier ones by cryptography.

   Once the transaction gets verified, it's recorded in the blockchain.

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Etymology

Origin of blockchain

First recorded in 2010–15; block ( def. ) + chain ( def. )

Example Sentences

"People thought blockchain applied to the food industry was going to solve all of our problems. It hasn't," notes Elahi.

From BBC

“Options and futures now allow people to gamble on the price without actually being involved in the blockchain, which is antithetical to what BTC was intended for.”

From MarketWatch

Because bitcoin trades on a blockchain, analysts are able to identify individual crypto wallets with thousands of bitcoins.

From MarketWatch

He is chairman of a tech company that buys cryptocurrencies to fund OpenAI CEO Sam Altman’s hopes of verifying humans on the blockchain.

From Barron's

CEO Anthony Noto said in a release that the company has been moving “with urgency to lead the next phase of financial services by delivering crypto and blockchain innovation backed by bank-grade stability and security.”

From MarketWatch