Blockchain is the most Disruptive, Digitized and Decentralized technology. The Blockchain technology
is majorly used to verify digital currencies transactions. In this system there is no single centralized authority but everyone existing in the block can verify its authenticity. Types of Blockchain -
Public: Public transaction within existing blocks. Examples - Bitcoin, Ethereum, Dash, Factom
Consortium: Controlled by a consortium of members. Examples- Ripple ,R3 & Hyperledger1.0
Private: Requires an invitation. Examples- Multichain, Blockstack
Bitcoin:
When Satoshi Nakamoto tried to develop a Peer-to-Peer electronic cash system, it gave the birth of a Cryptocurrency known as Bitcoin. Since then in 2008, Bitcoin is the former most popular Cryptocurrency. It is like digital cash which works as a medium of exchange within a block. The term Blockchain is derived since the blocks are been connected one by one like a chain. The Cryptocurrency uses cryptography to secure and verify transactions.
Do check it out if you are interested to know more.:- https://www.youtube.com/watch?v=lf5d-R8-N20