Lexicon Understand the Blockchain
Blockchain
A chain of blocks which is an infallible and transparent technology of centralised stockage which enables the registration and securing of online transactions. This information recorded in sequence by blocks, is encrypted and dated and therefore can niether be altered or changed. This special technology functions without the use of a centralised control system.
Bitcoin
The Blockchain is the underlying technology for the use of Bitcoins. They are, for the moment, the most famous aspect of this technology. A bitcoin is electronic currency made up of tokens, which are exchangable between individuals via a decentralised, autonomous and transparent computer programme. The Blockchain.
Token
A token is a unit of digital credit which is emitted and exchanged on the Blockchain. It may be transfered between two parties without duplication, and without the intervention or agreement of a third party. It cannot be falsified and is therefore unique, and recorded in an unalterable register.It may be exchanged, bought or sold at any time by it's owners on specialised transaction platforms. The virtual fluidity and ease of use is the key feature of a Blockchain token.
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