The blockchain is an open, distributed ledger that records transactions in a secure, verifiable and permanent way. The ledger is maintained by a network of computers, known as nodes, that validate and timestamp transactions. Each node in the network gets a copy of the ledger, which is updated after each transaction.
The blockchain is often referred to as a digital ledger or a distributed ledger, as it is not held in a single location, but is instead distributed across the network of computers that maintain it. The term blockchain was first used in a white paper published in October 2008 by an anonymous person or group of people known as Satoshi Nakamoto.
The blockchain is the underlying technology behind the cryptocurrency Bitcoin, but it can also be used to create other types of digital assets and records. Blockchain technology is often compared to the Internet, as it has the potential to revolutionize the way we interact with the digital world.
Other related questions:
Q: Who owns the patent for blockchain?
A: There is no one owner of the patent for blockchain technology. The technology is open source and available for anyone to use.
Q: Is there a patent on blockchain?
A: Yes, blockchain is patented.
Q: Who coded the blockchain?
A: The blockchain was coded by Satoshi Nakamoto, the creator of Bitcoin.
Q: How many blockchain patents are there?
A: There are currently over 1,500 blockchain patents filed globally.