- Bitcoin is a cryptocurrency that uses blockchain technology, other cryptocurrencies use their own versions of blockchain.
- Blockchain is a technology that needs the internet to work.
- Blockchains can be public (like the internet), or private (like the intranet).
- Blockchain is part record-keeping, part network protocol.
- Records stored on blockchain cannot be modified or deleted, only added on to it.
- Blockchain relies on multiple computers in a peer-to-peer network to work, thereby eliminating single points of failure.
- Blockchain uses consensus rules to ensure the network agrees on the records.
- Blockchain uses cryptography to ensure the integrity of the records and network.
- Blockchain isn’t the solution to all problems.
- Just like with the internet, there will be jobs that become obsolete. But, there will be new careers that we haven’t even dreamed up yet that will be created as a result of blockchain.
