Blockchain: Difference between revisions

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imported>Doug Williamson
(Add quote from The Treasurer, Nov-Dec 2017, p44-45.)
imported>Baseby2@msn.com
(Simplify blockchain definition and remove confusion that blockchain and bitcoin must be used together.)
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2.
2.


A database of cryptocurrency transactions.
A database using distributed ledger technology (blockchain) which can be used for cryptocurrency transactions.






<span style="color:#4B0082">'''''Blockchain defined and differentiated'''''</span>
<span style="color:#4B0082">'''''Blockchain defined'''''</span>


:"Blockchain is essentially just a register, or ledger, of assets or transactions that can be replicated across a network...
:"At its heart, blockchain is a relatively straightforward concept. It is a ledger of blocks of information, such as transactions or agreements, that are stored across a network of computers.
This information is stored chronologically, can be viewed by a community of users, and is not usually managed by a central authority such as a bank or a government. Once published, the information in a certain block can't be changed.
If people try to tamper with that information, it becomes obvious."


:There are marked differences between the blockchain protocols that underpin the operation of cryptocurrencies like Bitcoin and cryptographic protocols that are being considered for all those decentralised ledger applications being looked at through collaborations between the banks and major fintech providers.
:Complements of the BBC: https://www.bbc.com/news/business-45919700


:Bitcoin by design operates very publicly, albeit the actors themselves are, in fact, able to remain relatively anonymous.


:In the banking environment, the rules for the operation of the ledger are set by the organisation and while the ledger may be deemed distributed, it effectively remains under the guardianship of a number of trusted intermediaries."
 
:Cryptocurrencies such as Bitcoin may require blockchain technology but the use of blockchain does not require the involvement of Bitcoin.




:''The Treasurer magazine, November 2017, p44 - Charlie Barling, director, Chisoli Treasury Solutions.''




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===Other links===
===Other links===
[http://www.treasurers.org/node/10047 Peer Pressure, The Treasurer, April 2014]
[http://www.treasurers.org/node/10047 Peer Pressure, The Treasurer, April 2014]
[[Category:Technical_skills]]
[[Category:Treasury_operations]]

Revision as of 13:50, 29 November 2018

1.

A distributed, secure database of transactions, also known as 'distributed ledger technology'.


2.

A database using distributed ledger technology (blockchain) which can be used for cryptocurrency transactions.


Blockchain defined

"At its heart, blockchain is a relatively straightforward concept. It is a ledger of blocks of information, such as transactions or agreements, that are stored across a network of computers.

This information is stored chronologically, can be viewed by a community of users, and is not usually managed by a central authority such as a bank or a government. Once published, the information in a certain block can't be changed. If people try to tamper with that information, it becomes obvious."

Complements of the BBC: https://www.bbc.com/news/business-45919700


Cryptocurrencies such as Bitcoin may require blockchain technology but the use of blockchain does not require the involvement of Bitcoin.



See also


Other links

Peer Pressure, The Treasurer, April 2014

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