blockchain

[blok-cheyn]

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.

Word History and Origins

Origin of blockchain¹

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

Example Sentences

Elliptic and other companies like Chainalysis are able to track the movement of stolen funds like Bitcoin and Ethereum by following the public list of transactions on the blockchain.

From BBC

The blockchain is sustained by rewarding so-called "miners" - whose job it is to validate transactions - by paying them with the cryptocurrency.

From BBC

A string of now deleted posts on the House of Commons leader's account described the "$HCC" coin as "a community-driven digital currency bringing people's power to the blockchain".

From BBC

The California resident, who works for blockchain technology company Ava Labs, vented about his frustrations with AI on social network LinkedIn.

From Los Angeles Times

All crypto transactions are displayed on a public blockchain, so it's possible to track the money as it's moved around by the Lazarus Group.

From BBC