- A shared record of past transactions in a cryptocurrency network
The distributed transaction ledger used in Bitcoin and other virtual currency platforms. There is no central repository for the transactions. A new block of transactions can be created by any participant via the Bitcoin mining process (see Bitcoin). Not Just for Bitcoin Because the blockchain algorithm provides an unalterable and robust list of rightful ownership, both the public and private sectors are exploring blockchain-like techniques for systems other than digital currencies. By recording transactions without a middleman, performance is greatly improved.