What Is Blockchain?

A blockchain is a special kind of database, also called a decentralized digital ledger, that's maintained by numerous computers distributed around the world. Blockchain data is organized into blocks, which are chronologically arranged and secured by cryptography.

The earliest model of a blockchain was created in the early 1990s when computer scientist Stuart Haber and physicist W. Scott Stornetta employed cryptographic techniques in a chain of blocks as a way to secure digital documents from data tampering.

Haber and Stornetta inspired the work of many other computer scientists and cryptography enthusiasts, eventually leading to the creation of the first cryptocurrency powered by blockchain technology, Bitcoin. Since then, adoption of blockchain technology has gradually widened, and cryptocurrencies are used by an increasing number of people globally.

While blockchain technology is often used to record cryptocurrency transactions, it’s suitable for recording many other types of digital data and can be applied to a wide range of use cases.