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

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

Armstrong, who studied economics and computer science at Houston’s Rice University, was an early convert to the ideas of digital money and the blockchain technology that could make it reality.

From The Wall Street Journal

Keeping that information secure and unchanged is critical, which is why engineers are increasingly exploring blockchain technology.

From Science Daily

It generates revenue from digital asset trading; staking, or rewards earned from validating crypto transactions on a blockchain; and other service fees.

From Barron's