In a narrow sense, the blockchain is a chained data structure that combines data blocks in a chronological order in a sequential manner, and cryptographically guaranteed non-tamperable and unforgeable distributed ledgers. Broadly speaking, blockchain technology uses blockchain data structures to validate and store data, use distributed node consensus algorithms to generate and update data, and use cryptography to ensure data transmission and access security, using automated scripts. The code consists of a smart contract to program and manipulate data in a completely new distributed infrastructure and computing approach.
The blockchain has been in development for nearly 10 years. In 1991, Stuart Haber & W. Scott Stornetta proposed a cryptographic protection chain for blocks for the first time. In 2000, Stefan Konst published a unified theory of encryption protection chains. In 2008, Nakamoto came up with the concept of blockchain for the first time. In 2016, the industry trade organization created a global blockchain forum.
The technology likely to have the greatest impact on the next few decades has arrived. And it's not social media. It's not big data. It's not robotics. It's not even AI. You'll be surprised to learn that it's the underlying technology of digital currencies like Bitcoin. It's called the blockchain. it's not the most sonorous word in the world, but I believe that this is now the next generation of the internet, and that it holds vast promise for every business, every society and for all of you, individually.
-- Don Tapscott, father of the digital economy