Blockchain

Also known as distributed ledger technology (DLT), block chain is a type of a decentralized ledger that can be maintained across vast distances by multitudes of participating nodes. No single party is in control of a blockchain, nor can they alter the record without every single participating node agreeing on the new state.

Blockchain is the technology that underpins Bitcoin as well as the multitude of other cryptocurrencies in existence. Cryptocurrency block chains use cryptographic security along with monetary policy and economic incentives (crypto-economics) to ensure the security of the network.