Quote from: franky1 on July 15, 2018, 04:33:38 AM

Quote from: pooya87 on July 15, 2018, 03:27:28 AM

Quote from: stellaekun on July 14, 2018, 10:06:31 PM

' The blockchain is a global and decentralized ledger that stores information about a transaction and also verifies the data'

it is interesting that all these results from a google search about "what is blockchain" call it a "decentralized" ledger. like this one that you copied from Wikipedia!
well blockchain is simply a chain of blocks which is made using cryptography. it is used in a decentralized manner in bitcoin but from what i understand there is no reason to use it in a decentralized way. you can see that clearly in many centralized altcoins that are also using the blockchain technology. which leads me to say that a better word for it is distributed ledger.

what the community is doing is this.
for the open decentralised(atbest) definition.. they call blockchain
for the closed / distributed within authorised userset definition.. they call DLT (distributed ledger technology)

however the way things are going where only one team get to dominate the direction of protocol changes and make demands that an upgrade is mandatory.. yea the old definition of blockchain is starting to lose its 'decentralisation' ethos

Blockchain is a place where a person can store and keep all his personal information and only that person can decide which part of information he wants to share and which not. Only he can decide that who can see the information and can also cancel that access. So while defining blockchain it can be said that it is a public ledger where a shared database can be recorded. You can have a look at this video they have explained blockchain for 5 different brain intelligence levels have a look https://www.youtube.com/watch?v=hYip_Vuv8J0