SIMPLY PUT

What is it?

Blockchain is a type of database that differs from a traditional database. Typically, a database is private & stored centrally, however with a blockchain, the information is public & stored on each user’s device. The most common use of this is seen with Bitcoin, where it stores each transaction, like a ledger.

MAKING CHANGE

Why we built it

With Bitcoin having such a high prominence in the media, we looked to understand how the core technology works, and why has it gained such a large draw. The end goal being a technical understanding of the technology, so we can look at potential implementation options.

WHAT USE?

What are the possible applications?

Blockchain technology has many use cases, particularly surrounding areas where the history of an item should be kept as public record. By developing our own blockchain, we open the option to powering a related system.

What is its status?

The project was built as functioning proof of concept, however was never released publicly.