A brief introduction to Consensus mechanisms, Smart contracts and distributed apps on the…

Too Long; Didn't Read

The first blockchain was conceptualized by an anonymous person or group known as Satoshi Nakamoto in 2008. It was implemented in 2009 as a core component of Bitcoin. Like our <a href="https://medium.com/zenturtle/blockchain-for-dummies-ae786c6a5fe7" target="_blank">Fruit spreadsheet</a> example, the words <em>block</em> and <em>chain</em> were used separately in Satoshi Nakamoto’s original paper, but were eventually popularized as a single word, <em>blockchain</em>.<br>Bitcoin or any other digital currency isn’t a file saved somewhere. It is a representation of the transactions taking place on the Bitcoin’s Blockchain, where each transaction is verified and approved by a large peer-to-peer network. Apart from digital currency, blockchains can be programmed to record anything of value and importance to humans securely like land records, birth certificates, identities, medical records, etc.