Who is the owner of Blockchain?


Blockchain technology is doing wonders today. Who is the owner of this blockchain technology?

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Proton 3 months 1 Answer 211 views 0

Answer ( 1 )

  1. By design, a blockchain is resistant to modification of the data. It is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way”. For use as a distributed ledger a blockchain is typically managed by a peer to peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority. Deentralized consensus has therefore been claimed with a blockchain.

    Blockchain was invented by a person (or group of people) using the nameSatoshi Nakamoto in 2008 to serve as the public transaction ledger of the cryptocurrency bitcoin.The identity of Satoshi Nakamoto is unknown. The invention of the blockchain for bitcoin made it the first digital currency to solve the double spending problem without the need of a trusted authority or central server. The bitcoin design has inspired other applications, and blockchains that are readable by the public are widely used by cryptocurrencies.

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