Blockchain Explained

After years of writing for the Circuit Magazine, it’s surprising that I’ve never covered blockchain technologies in any real depth. This article will rebalance the scales. First, we’ll cover the technology itself and how it works, then the various applications it’s used for—the benefits (if any) and the negatives compared to existing technologies that fill the same gap.

What is Blockchain?

Often referred to as a trustless public ledger, blockchain technologies are cryptographic protocols that provide a verifiable record of transactions (financial or otherwise) that is not under the control of one party. Instead, a distributed group of entities votes on whether a transaction is genuine and should, therefore, be added to the ledger.

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