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What is blockchain (when was blockchain proposed)

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What is blockchain (when was blockchain proposed)

What is blockchain? In the blockchain industry, many people think that blockchain is a Distributed database. With the continuous development and progress of technology, the current blockchain technology is also increasingly known to everyone. So what is blockchain? Simply put, it is a decentralized database composed of computer programs, code, or other tools. This type of database is usually used to record various types of data or store data in the cloud for processing However, in reality, due to its high complexity and difficulty in understanding, many people overlook the reason for the existence of this concept. For example, Bitcoin was first proposed in 2008, when its price reached $20000. Later, some mainstream public chains such as Ethereum appeared, but they did not provide complete information like Bitcoin, which led people to question them. However, most public chains today use sharding technology, and do not consider scalability. So when problems occur, these Cryptocurrency will disappear until one day they will be completely recovered However, for ordinary investors, if they do not know how to participate and make decisions in this field, it is best not to overly focus on its value, as it can easily cause portfolio fluctuations and bring huge risks to their assets, especially for small white investors who have just come into contact with this field. This is a good choice. When was blockchain proposed? How was it invented. Before the birth of Bitcoin, it was a very simple concept: Distributed Ledger Technology (DLT)

The earliest blockchain project was Satoshi Nakamoto. Later, after he combined this idea with Bitcoin, Ethereum and other decentralized systems emerged. Now Bitcoin has also developed to a completely different stage – from Proof of work to consensus algorithm of proof of equity. So what exactly is Bitcoin like and why is it building its network in this new way? Let’s take a look at the initial ideas of Bitcoin.

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