The A, B, C, D of Blockchain

Article published at Forex Alchemy

Initially developed as an accounting method for Bitcoin in 2008, by an anonymous developer called Satoshi Nakamoto, Blockchain is now changing the way individuals, businesses and governments conduct transactions.

Blockchain was initially developed as an immutable, digitised and decentralised public ledger of transactions that could be customised to record financial transactions and any other transaction of value in a chronological order. The skyrocketing value of Bitcoin and other cryptocurrencies built on this technology led to its adoption in a variety of commercial applications. However, despite its many advantages, the technology also had some limitations, which proved to be a hindrance in its adoption by major companies.

As a result, blockchain has evolved significantly in recent times, so that it now suits the needs of enterprises. The building blocks, however, remain the same at the core.