Blockchain Technology: Concepts

Cryptocurrency, the digital currency system that enables global monetary transactions between two parties without the need for a trusted third party financial institution, has gained tremendous momentum over the last few years. Bitcoin, the first cryptocurrency, came into existence in January 2009. Its inventor, Satoshi Nakamoto (an anonymous person or a group) published a whitepaper prior to this in October, 2008. Since then, numerous cryptocurrencies have come into existence. More recently, bitcoin has gained mainstream attention. Under the hood, the technological innovation is the blockchain, also called as distributed ledger technology that is seen as revolutionary foundational technology having a tremendous potential across different verticals.

By Girish BVS
Senior Solutions Architect, Technology Group