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

The blockchain, for instance, could offer a secure channel for communication.

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Banks like Bank of New York Mellon and JPMorgan Chase wanted to put funds on the blockchain, while digital token companies like Ripple tried to become banks.

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They plan to build Clearing’s platform on top of blockchain technology, using stablecoins—digital tokens pegged to the dollar—to settle trades.

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Although the identities of most whales are unknown, blockchain data can still offer insights into their activity by tracking their crypto wallets.

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In October, Circle launched a public testnet — a practice version of its own blockchain operating system — to bring more economic activity onto the blockchain.

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