Blockchain

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• Bill Gates Sounds Alarm On Bitcoin's Energy Consumption–Here's Why Crypto Is Bad For Climate Change | Jonathan Ponciano - Forbes ... According to Digiconomist, one bitcoin transaction requires about 707.6 kilowatt-hours of electrical energy, the amount of energy the average U.S. household consumes in 24 days.

A blockchain is a growing list of records, called blocks, that are linked together using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree). The timestamp proves that the transaction data existed when the block was published in order to get into its hash. As blocks each contain information about the block previous to it, they form a chain, with each additional block reinforcing the ones before it. Therefore, blockchains are resistant to modification of their data because once recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks. Blockchains are typically managed by a peer-to-peer network for use as a publicly distributed ledger, where nodes collectively adhere to a protocol to communicate and validate new blocks. Although blockchain records are not unalterable as forks are possible, blockchains may be considered secure by design and exemplify a distributed computing system with high Byzantine fault tolerance.Wikipedia

Uses

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• ... other uses of blockchain: cryptocurrencies, smart contracts, energy trading, supply chain, anti-counterfeiting, domain names, decentralized voting, proof of existence and

Distributed Ledger

A distributed ledger is a database that is consensually shared and synchronized across multiple sites, institutions, or geographies, accessible by multiple people. ... Underlying distributed ledgers is the same technology that is used by blockchain, which is the technology that is used by bitcoin.