The article helps readers understand Blockchain technology, how it operates, and its applications in today's life.

What is Blockchain Technology?

Blockchain technology is a distributed database system that can record and store digital asset data on blocks in a transparent and immutable manner. These blocks will be linked together through hash cryptography and arranged in chronological order to form a chain.

Blockchain technology is also known as decentralized distributed ledger technology (DLT) because it is not controlled by any agency or intermediary.

When was blockchain born?
The idea of ​​blockchain technology was introduced in the early 1990s by two scientific researchers Stuart Haber and W Scott Stornetta.

However, in late 2008, after Satoshi Nakamoto released a white paper introducing a new P2P electronic cash system called Bitcoin, the operating model of blockchain technology was established and described more clearly.

On January 3, 2009, the Bitcoin blockchain was born when the first block was mined by Satoshi Nakamoto, with a block reward of 50 Bitcoins. The world's first Bitcoin transaction was made on January 12, 2009, when Satoshi sent 10 BTC to Hal Finney (a software developer in the United States).