Recycle for Life
Recycle for Life Why Blockchain? Blockchain can be a confusing concept to understand. Blockchain technology is a relatively new concept, but is a growing piece of foundational technology just like the internet or cloud computing. Similar data structures have existed long before the emergence of the popular cryptocurrency bitcoin was conceived. However, the principal theories and forms of blockchain architecture in use today were first outlined in the first bitcoin whitepaper published by satoshi Nakamoto in 2008. Blockchain can be defined as a continuously growing list of digital records in packages called blocks linked and secured using cryptography. These digitally recorded blocks of data are stored in a linear chain where each block contains several chains. Each block in the chain contains data which is cryptographically hashed and time stamped. The blockchain technology is enhanced by the distributed ledger technology. A distributed ledger technology is a co...