Demystifying Blockchain

From Cryptocurrency to Smart Contracts

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Blockchain is an emerging technology that promises to revolutionize digital transactions. However, blockchain is not well understood and confusion exists as to the different associated terms. This infographic aims to demystify the technology and to provide insight into potential future applications. At its core, blockchain is a public ledger technology that uses distributed consensus and cryptography to provide an authoritative record of secure transactions. The technology is deemed disruptive in that it eliminates centralization, which uses a trusted third party.

Digital SignatureCryptocurrencyBlockCryptographic HashingSmart ContractBitcoinMiningBlockchain NonceNode