Blockchain technology is heralding in a fairer world, where producers and buyers can directly exchange goods and services, without the need for banks and centralised institutions. Blockchain is mathematics at its heart and is specifically based on the application of what’s called elliptical curve cryptography. Blockchain demands full adherence to the rules, as set out by its users, and punishes the fraudsters. The process of validating the addition of data to a blockchain is called mining, and those who do this work are called blockchain miners. In a public blockchain anyone can join, and when they do, they get a full copy of the blockchain.

Source: The Irish Times May 13, 2021 04:18 UTC