NetworkNewsWire Editorial Coverage: It’s difficult to imagine childhood without a set of building blocks, be it Tinkertoys, Legos, or the tried-and-true backyard stick structures. Regardless of the construction method, the drive to solve problems and build something useful never really goes away, especially when it comes to business. In fact, it’s the anchoring thought behind the blockchain revolution made famous by bitcoin and other cryptocurrencies. Blockchain technology, described as a distributed database or ledger that maintains a continuous list of transactions or records, has the potential to disrupt any public or private sector. Companies actively pursuing and building on the opportunities provided by this technology include Global Payout, Inc. (GOHE) (GOHE Profile), International Business Machines Corporation (IBM), Microsoft Corporation (MSFT), Oracle Corporation (ORCL), and United Parcel Service Inc. (UPS).
Lego My Blockchain
It’s helpful to envision the concept of building a blockchain the same way you once (or still do) play with Legos, maintains one research analyst who works for Cisco (http://nnw.fm/2ZLrm). Each transaction is like a Lego block that is transmitted to every party in the network and verified so it can be added to a chain, which creates a structure – something like that giant Lego tower you once built. Unlike the real Lego blocks, which can be pulled apart, broken or reused, a block in a blockchain is…
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