BLOCKCHAIN: WHAT IT IS, WHAT IT IS FOR AND WHAT ARE THE SCOPES OF APPLICATION
We have invested in developing blockchain expertise since the dawn of this technology. There is great interest around the topic today, but there is still confusion about its functioning: let’s see in detail what it is and what its potential advantages are.
Blockchain takes its name from the union of two words: “block”, that is the blocks of transactions, and “chain”, the chain that binds them to each other: literally, therefore, a chain of blocks.
We can therefore define the blockchain as a huge distributed database. Generally any transaction, in the real world as on the web, requires a “trusted third party” to guarantee the exchange: the blockchain was created to eliminate the intermediary, allowing completely anonymous encrypted operations and storing all transactions in a ” huge ledger ”distributed online.
Today there are different types of blockchains: from public ones, such as Ethereum, to those that are defined permissioned, or private blockchains that require, in order to join, specific permissions defined by the owner of the blockchain itself, which can be a consortium, an association , etc.