Is the Blockchain Too Expensive?
For at least a year now, the magic word in technology circles has been “blockchain” – the accretive cryptographic system behind Bitcoin and other virtual currencies.
A distributed ledger
A blockchain serves as a distributed ledger, a record of transactions or other information that is secure from alteration and that operates without any central authority. Its security derives from the digital signatures required to affect the record. It foregoes a central authority by residing simultaneously on very large numbers of computers on its network (which is what “distributed” means in this context, in contrast with “centralized”.) Each such computer contains . . . [more]
