blockchain

noun

block·chain ˈbläk-ˌchān

: a digital database containing information (such as records of financial transactions) that can be simultaneously used and shared within a large decentralized, publicly accessible network

also : the technology used to create such a database

The technology at the heart of bitcoin and other virtual currencies, blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.

Marco Iansiti and Karim R. Lakhani

Word History

First Known Use

2011, in the meaning defined above

Time Traveler

The first known use of blockchain was in 2011

See more words from the same year

Cite this Entry

Style

“Blockchain.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/blockchain. Accessed 7 Dec. 2022.

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