My two cents on Blockchain and Cryptocurrency

Photo by Joshua Hoehne on Unsplash

A blockchain is a growing list of records, called blocks, that are linked together using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree). The timestamp proves that the transaction data existed when the block was published in order to get into its hash. Blocks contain the hash of the previous block, forming a chain, with each additional block reinforcing the ones before it. Therefore, blockchains are resistant to modification of their data because once recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.

Reference: https://www.blockchain.com/charts/blocks-size
First bitcoin transaction(Reference: https://explorer.btc.com/btc/block/1)
Photo by André François McKenzie on Unsplash

Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.

A cryptocurrency, crypto-currency, or crypto is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. It typically does not exist in physical form (like paper money) and is typically not issued by a central authority.

Initial Coin Offering(ICO)

Blockchain Use Cases

Limitation of Blockchain Technology

Common Misconception

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Prashant Lakhera

Prashant Lakhera

AWS Community Builder, Ex-Redhat, Author, Blogger, YouTuber, RHCA, RHCDS, RHCE, Docker Certified,4XAWS, CCNA, MCP, Certified Jenkins, Terraform Certified, 1XGCP