There are 3 technologies that combine to create a blockchain.
1) private key cryptography
2) a distributed network with a shared ledger and
3) an incentive to service the network’s transactions, record-keeping and security.
Cryptographic keys
Two people wish to transact over the internet.
Each of them holds a private key and a public key.
main purpose is to create a secure digital identity reference. a combination of private and public cryptographic keys.
The combination of these keys can be seen as a dexterous form of consent, creating an extremely useful digital signature.
In turn, this digital signature provides strong control of ownership.
A Distributed Network – System of record
How Does Blockchain Technology Work?
