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What exactly is the significance of blockchain?


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When I first heard about it 4-5 years ago it seemed just like a buzzword that was thrown out to get more funding for your startup or just to sound more "posh". I also heard it being described as "glorified linked list" on few subreddits.

But considering how the "craze" around it has not died out and a few of online search seem to land you on pages of crypto bros I would like to ask:

  • What exactly is blockchain?

  • Where is it used?

  • Is it an actual viable tech or just a forced one (aka a bubble)?

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  • 2 weeks later...
Posted (edited)

Blockchain is a decentralized database that is stored simultaneously on multiple computers connected to each other on the Internet. Blockchain is also called distributed ledger technology because the entire chain of transactions and the current list of owners are stored on their computers by many independent users. https://forexstore.com/free-forex-robots shows examples of how the work does chain checking for all financial services. And it looks like a collaborative system. Even if one or more computers fail, the information is not lost.

Edited by TaysonPetersvI6
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On 4/19/2022 at 3:42 PM, singtoeil said:

When I first heard about it 4-5 years ago it seemed just like a buzzword that was thrown out to get more funding for your startup or just to sound more "posh". I also heard it being described as "glorified linked list" on few subreddits.

But considering how the "craze" around it has not died out and a few of online search seem to land you on pages of crypto bros I would like to ask:

I got this,...

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