A blockchain is a growing list of records, called blocks, that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. By design, a blockchain is resistant to modification of the data and is an open, distributed ledger that can record transactions efficiently and in a verifiable and permanent way. A blockchain is typically managed by a peer-to-peer network. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks. Blockchain was invented by a person (or group of people) using the name Satoshi Nakamoto in 2008 to serve as the transaction ledger of the cryptocurrency bitcoin. The identity of Satoshi Nakamoto remains unknown to date.

block chain
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