A shared digital ledger that records transactions across many computers, without one central owner.
A blockchain is a digital record-keeping system that stores transactions in linked blocks of data, copied and verified across a network of computers rather than sitting on one company's private server. That structure makes it very difficult for any single party to alter past records without the rest of the network noticing, which is the core innovation behind bitcoin and most other cryptocurrencies. It's also being explored well beyond crypto, for tracking supply chains or verifying ownership records, though most of those applications are still early and unproven at scale.
Part of the Open Bell Glossary — plain-English explanations of the terms that come up on the show. Browse every term.