Blockchains and IoT: How Bitcoin Created a Revolution

Posted by Kody Betonte on Mar 23, 2017 2:01:00 AM
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In 2008, a secretive inventor—or group of inventors—named Satoshi Nakamoto created the cryptocurrency Bitcoin and its underlying blockchain (or alt-chain) technology. Blockchain is a peer-to-peer distributed ledger system in which transactions are recorded but cannot be copied. This methodology that remedies many of the drawbacks of traditional internet networks as a blockchain is essentially a self-auditing ecosystem that reconciles transactions every ten minutes in groups known as blocks.

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