Confused About Blockchains? Here’s What You Need to Know

A blockchain is a relatively new kind of database that has become the trendy solution for storing digital information more securely. The International Data Corporation recently forecast that companies and governments will spend $2.1 billion on blockchains in 2018, more than double what was spent last year.

But if you ask even the people who work with blockchains to define the technology, you are likely to get a stuttering response.

Don’t blockchains have something to do with Bitcoin?

Indeed. The first blockchain was the database on which every Bitcoin transaction was stored. Since Bitcoin began in 2009, the blockchain has come to hold over 160 gigabytes worth of data about every time a Bitcoin is sent between two digital wallets.!jpg]()