Blockchain Research Lab’s mission is to advance the research and development of blockchain-based technologies for use in Business, Finance, Economics, Mathematics, Computer Science, and all other areas of potential impact.
The objective of the Blockchain Research Lab is to create an opening and welcoming environment at Arizona State University where academics, scholars, students, faculty, scientists, and entrepreneurs can come together to see this technology positively impact the world and further our knowledge of how to apply it.
What is Blockchain?
The Blockchain is a decentralized, digital ledger system that serves as the foundation upon which Bitcoin and other cryptocurrencies operate. Blockchain uses a wide network to keep track of digital transactions, such as cryptocurrency, it’s a chain because additions or changes can only be made by adding new information to the end.
This means the blockchain cannot be surreptitiously edited or changed. Once the transaction is encoded in the Blockchain and becomes part of the network, the parties cannot reverse or alter it without mutual agreement and the creation of a new transaction record that affirms the change.
Where is Blockchain?
Blockchains are replicated on networked computers around the globe and accessible to anyone with Internet access.
However, a specific group of network participants, called “miners” are responsible for inputting and validating transactions from users. Only once these transactions are validated and encrypted by miners can they be added to the blockchain?