Blockchain technology
Definition
A decentralized digital ledger system that records transactions across multiple computers in a secure, transparent, and immutable way, using cryptographic hashing to link blocks of data into a chronological chain.
The foundational technology enabling cryptocurrencies like Bitcoin, as well as applications in supply chains, voting, and smart contracts, where consensus mechanisms ensure data integrity without a central authority.
A distributed network protocol that prevents tampering or double-spending through proof-of-work or proof-of-stake validation, revolutionizing trustless peer-to-peer exchanges.
Examples
Ever since discovering blockchain technology, my uncle turned his garage into a crypto mine, where the only thing louder than the fans is his optimism about Lambo dreams.
Blockchain technology promised to disrupt everything, but so far it's mostly disrupted my sleep with notifications about gas fees spiking at 3 a.m.
She explained blockchain technology using a pizza analogy: each slice is a block, and no one can steal your toppings without the whole pie noticing.
Investors poured billions into blockchain technology startups, only to realize that 'decentralized' also means no one knows who's in charge of the coffee machine.