What is blockchain?

We have been reading constantly about it on social networks and press. It also appears in the news, but... do you know the meaning of the term blockchain? 

Blockchain is a technology that develops the web to the point that some circles talk of web 3.0. 

It is the decentralization of information and the use of P2P networks. 

To remember concepts, we will say that P2P (or Peer 2 Peer) networks are those configured between different "private" computers without the intervention of fixed server. Each of the teams work as a node of the network with the same hierarchy. 

So we can say that the blockchain is a secure P2P network, in which blocks of encrypted information related to the previous block is generated. All this takes place with a series of rules marked from the beginning, a consensus that defines the way in which the network will operate. 

All intermediate control is removed since the network contains enough encrypted information to manage on its own. This includes a global record of transactions. 

Precisely this fact makes it practically invulnerable: If we wanted to modify the global record we would have to do so in the majority of the nodes of the network and this would be downright difficult. 

This technology is closely related to Bitcoin and other cryptocurrencies because it unites the processing capabilities of the P2P cloud with the security provided by encryption and information management system. 

Beyond of all related to the economy, the blockchain begins to be explored with other purposes: from management and control of elections or votes of all types involving safe digital identity to the creation of clouds out of the large storage services. 

If you want to learn more about bitcoins, do not miss this post on bitcoins in eCommerce.