Blockchain technology from "summary" of Radical Technologies by Adam Greenfield
In the realm of information technology, blockchain technology is often held up as a kind of panacea, a solution to a wide range of pressing problems that beset contemporary society. At its most basic level, a blockchain is simply a decentralized ledger of transactions, maintained on a network of computers and secured through cryptographic means. The appeal of the blockchain lies in its promise of transparency, security, and decentralization. As every participant in the network possesses their own copy of the blockchain, there is no single point of failure. This makes it incredibly difficult for any one actor to manipulate the data contained within the blockchain, as doing so would require the collusion of a majority of the network's participants. Moreover, the transparency of the blockchain means that every transaction that has ever taken place on the network is visible to all. This can be a powerful tool for combating fraud and corruption, as any attempt to tamper with the data will be immediately apparent to all participants. In th...
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