Meaning of Blockchain

What comes to your mind when you hear "Blockchain"??

When people hear of the word "Blockchain, " all they think of is Bitcoin and how to make more money.

Firstly, be rest assured that the term Blockchain is not something complex or difficult to comprehend. It is easy to understand even with the technicalities involved, and that is what I'll be doing in the slides below👇👇

Blockchain is simply a database, but more than a database because of it's unique features like decentralization (no central administration). It is a record or a ledger of transactions (these transactions can either be financial, educational, etc.) but placed in structures called blocks, the coming together, multiplication or accumulation of these different blocks forms a chain and ultimately, Blockchain.

In the year 1991, two researchers (Straut Haber and W Scott Stornetta) created the Blockchain and it is a system that stores our data in a more secure way whereby people can see our activities and records, but can't access it or tamper with it, and so, they created the Blockchain. However, in 2008 Satoshi Nakamoto released the Bitcoin white paper (a report that gives details of any given project) so it was up till the Bitcoin was created that this Blockchain made by the researchers mentioned earlier was test run.

The Bitcoin serves as the mother of other cryptocurrencies because after it's creation others emerged like:

1. ICP(Internet Computer Protocol)
2. Ethereum
3. Avalanche
4. Binance
5. Solana

And so many more....