Describe the blockchain in one sentence

[rokergila01]

Blockchain adalah Buku Besar yang tidak dikelola dan di kontrol hanya oleh satu pihak atau organisasi tertentu, namun Catatan Buku Besar (Blockchain) disebarluaskan secara publik dan di kelola oleh jutaan komputer di seluruh dunia dalam waktu yang bersamaan.

Setiap komputer yang terdapat didalam jaringan dapat melihat atau menambahkan catatan tentang transaksi yang baru terjadi ke dalam Buku Besar Blockchain, inilah kekuatan utama teknologi tersebut, jadi sangat mustahil bagi siapapun untuk menghapus Buku Besar Blockchain karena tidak di kelola oleh satu orang dan satu tempat saja, akan tetapi di kelola secara global dalam waktu yang bersamaan.

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[Shime]

The blockchain is a public, authenticated, write once Ledger of transactions, Providing transparency by being public, authentication via cryptography and security by being unmodifiable (write once).

[Timok Abiodun]

Blockchain technology doesn't have to exist publicly. It can also exist privately - where nodes are simply points in a private network and the Blockchain acts similarly to a distributed ledger. Financial institutions specifically are under tremendous pressure to demonstrate regulatory compliance and many are now moving ahead with Blockchain implementations. Secure solutions like Blockchain can be a crucial building block to reduce compliance costs.

[jhonnydeep87]

Nowadays there is great confusion around its definition because this technology is early and it can be implemented in many ways depending on its purpose.

[Escan0r]

Blockchain on Bitcoin is a decentralized system. This means that Bitcoin is not influenced by any government policy that may have adverse effects on the system. Bitcoin is also an example of the success of a peer-to-peer system without a control center that controls the running of the system. Bitcoin could replace credit cards and debit cards in the future.

[jone sonie]

It is never enough to describe a blockchain in a sentence. I can only say that blockchain is a database of information storage, Bitcoin is based on blockchain techlonogy.

[cr7]

Blockchain is a new way to send money without the participation of banks and store data in a transparent and unchanged form. It's that simple.

[purgs08]

I get asked alot about bitcoin and how the blockchain works by friends and family who are interested and I can never give a straight answer.

What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?

Tom

Similarly, the most common GUI devised for the blockchain are the so-called “wallet” applications, which people use to buy things with Bitcoin, and store it along with other cryptocurrencies.
learn about blockchain
here's a link for you https://www.investopedia.com/terms/b/blockchain.asp

[tokenomics]

Blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography.

[cryptojenna]

I get asked alot about bitcoin and how the blockchain works by friends and family who are interested and I can never give a straight answer.

What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?

Tom

Quite simply a decentalised, tamper-proof public ledger (database).

The impacts and use cases of which can't be summed up in a simple paragraph. The power and potential of this new technology should be properly explained once the above definition is clear.

[OlivierLB]

 

[dany henry]

Blockchain for me means being able to store, send and receive value without using a bank and also to avoid governments.

[ROB18]

A blockchain is a technology behind cryptocurrency that stores data and runs in blocks which is present on many servers/computers around the world. I hope I made it right

[jhonnydeep87]

To me, blockchain is a digital public account that contains values that are protected by a modern encryption with transactional trust between permanently enforced accounts using the principles of such powerful mathematical algorithms.

[drmilind2004]

Blockchain is a distributed public ledger.

The word 'distributed' encompasses many of the features that the other posters are terming as 'democratic'. Additionally, it relates to the decentralised nature of the blockchain.

[Underlord]

Blockchain on bitcoin is a decentralized system. This means that Bitcoin is not influenced by any government policy that may have adverse effects on the system. Blockchain, the technology underlying the bitcoin system, has long predicted to change the entire future of information technology.

[Jayhils2]

it is a decentralized digital public ledger that cannot be changed which has come to stay in this world of technology and electronic machinaries

[anhhungcolao]

I don't know exactly about definition of Blockchain, but I like the idea about blockchain of Don & Alex Tapscott "The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”

[Ocha Bacoh]

blockchain adalah sebuah teknologi yang simple dan sederhana.

[masterchief001]

Blockchain is suitable for recording events, medical records, transaction processing, notarization, identification and proof of origin. This has the potential to alleviate the consequences of data change in the context of global trade.