The History of Blockchain

History

The first mention of this system was described in a dissertation from 1982, “Computer Systems Established, Maintained, and Trusted by Mutually Suspicious Groups”. Although the dissertation mostly described smart contract prototypes, it also touched on blockchain and smart contracts. Nick Szabo presented technical and informational knowledge of blockchain to the world in his paper on smart contracts and another one called BitGold. The latter focused on digital money and how it was envisioned by Nick Szabo. These activities took place until 1999.

Development and technical features

In early works and descriptions of blockchain technology, it acted as a more centralised system where signatures of verified and trusted parties were required to add a block. But the main goal in creating the blockchain was that immutability of data remained and is still the main characteristic. Satoshi Nakomoto simplified this design and now we have a more sophisticated, yet less demanding, mechanism.

How it works

Blockchain is a sequential unbreakable chain of blocks. Each block is tied with another by hash.

Types of Blockchain

There are a few types of blockchain. Each of them is designed for exact purpose and convenient in any way of business or real life.

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DecimalChain

DecimalChain

Decimal helps communities to issue and manage blockchain assets.