What is blockchain & how does it work?

Blockchain defined: Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding).

What are the different types of blockchain networks?

Currently, there are at least four types of blockchain networks — public blockchains, private blockchains, consortium blockchains and hybrid blockchains. A public blockchain has absolutely no access restrictions.

Is blockchain a buzzword?

You’ve almost certainly heard the term blockchain. But you probably have no idea what it is or how it works, let alone why it generates so much hype. That’s OK. Most people don’t. That hasn’t kept it from becoming a buzzword thrown around in almost every industry, from finance to shipping to fantasy football.

Is blockchain a 'game-changer' for CIOs?

For the year 2019 Gartner reported 5% of CIOs believed blockchain technology was a 'game-changer' for their business. Blockchain formation. The main chain (black) consists of the longest series of blocks from the genesis block (green) to the current block. Orphan blocks (purple) exist outside of the main chain.