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How Does the Blockchain Work?
Blockchain technology explained in simple words
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Michele D'Aliessi
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Jun 1, 2016
Credit: Ani_Ka/DigitalVision Vectors/Getty
Blockchain technology is probably the best invention since the internet itself. It allows value exchange without the need for trust or a central authority. Imagine you and I bet $50 on tomorrow’s weather in San Francisco. I bet it will be sunny, you that it will rain. Today we have three options to manage this transaction:
We can trust each other. Rainy or sunny, the loser will give $50 to the winner.