77. Blockchain

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5 Terms

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Blockchain

A shared immutable ledger for recording transactions, tracking assets, and building trust

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Public Ledger

A record-keeping system that maintains participants’ identities in a secure and anonymous format

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Smart Contracts

Self-executing contracts where the terms of agreement or conditions are written directly into lines of code

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What makes smart contracts tamper-proof and trustworthy?

The decentralized and transparent nature of the blockchain ensures that once a smart contract is deployed, it cannot be altered

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Permissioned Blockchain

Used for business transactions and it promotes new levels of trust and transparency using his immutable public ledgers