What is the Blockchain?

The video tutorial introduces blockchain technology, initially used for cryptocurrency in 2008, and now a vital tool across various industries. It explains blockchain's key characteristics: being a database, decentralized, and secure. The origins of blockchain trace back to 1991, with its first application in Bitcoin transactions in 2008. Today, blockchain is used in currency exchange, supply chain, healthcare, and more. The benefits include transparency, reliability, security, and speed, but challenges like high costs, slow transactions, and regulatory issues persist. The video emphasizes the need for understanding blockchain's social and regulatory aspects for broader adoption.

Who were the first to describe the principles of blockchain technology?

Evaluate responses using AI:

OFF

What are the main downsides of blockchain technology?

Evaluate responses using AI:

OFF

What challenges does blockchain technology face regarding public perception?

Evaluate responses using AI:

OFF