According to Don and Alex Tapscott, authors of Blockchain Revolution (2016),
"The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value."
The blockchain is the database of all transactions that have happened since the beginning of time. In the blockchain world, this is known as the genesis block. The blockchain is duplicated all over the world. Once a transaction of something appears in the blockchain, it is very easy to prove it exists.
In this world, miners are entities whose only goal in life is to insert a transaction into the blockchain. To be efficient, miners try to update batches of transactions into a block. Other nodes confirm that this new block obeys all rules set forth in the Bitcoin protocol. Once a miner inserts an update into...
