What Does BLOCKCHAIN Mean in a Text?

homesitemapsearch bBLOCKCHAIN
BLOCKCHAIN means "Public Online Ledger (Cryptocurrency Term)".

BLOCKCHAIN is a "Public Online Ledger" used to record cryptocurrency transactions. A BLOCKCHAIN is a distributed database (i.e., the storage devices for the database are not all connected to a common processor). �BLOCKCHAIN maintains a list of ordered records, called blocks. Each block has a timestamp and a link to a previous block. In this way, it acts as a record of events that is shared between many parties, all of whom are anonymous.

Once information is entered in the BLOCKCHAIN it cannot be altered. Cryptography ensures that users can only edit the parts of the BLOCKCHAIN for which they posses the private keys necessary to write to the file. It also ensures that everyone's copy of the distributed BLOCKCHAIN is kept in synch.

BLOCKCHAIN is central to the function of cryptocurrencies such as Bitcoin. It allows the transfer of cryptocurrencies by maintaining a public record of each transaction. There is no physical or even online transfer of funds, such as in normal banking. All transactions are purely data transactions recorded in the BLOCKCHAIN.

As well as being used in banking, BLOCKCHAIN has many potential uses in commerce and in technologies such as crowdfunding and online voting. Major financial institutions including JP Morgan and Goldman Sachs have joined a partnership to develop BLOCKCHAIN technologies.�


When I write BLOCKCHAIN, I mean this:

meaning of BLOCKCHAIN

"Public Online Ledger (Cryptocurrency Term)"

Summary of Key Points

"Public Online Ledger (Cryptocurrency Term)" is the most common definition for BLOCKCHAIN on Snapchat, WhatsApp, Facebook, Twitter, Instagram, and TikTok.
Definition:Public Online Ledger (Cryptocurrency Term)
Type:Slang Word (Jargon)
Guessability:guessability level 4

4: Difficult to guess

Typical Users:typical user

Adults and Teenagers

Example of BLOCKCHAIN Used in a Text

author logo

This page is maintained by the Cyber Definitions Editorial Team.

You might also like...

Help Us Improve Cyber Definitions

  • Do you disagree with something on this page?
  • Did you spot a typo?
  • Do you know a slang term that we've missed?
Please tell us using this form.

Share This Page

share icon

If you like Cyber Definitions (or this page in particular), please link to it or share it with others.

If you do, please tell us. It helps us a lot!

Create a QR Code

create QR code

Use our handy widget to create a QR code for this page...or any page.