blockchain

noun

block·chain ˈbläk-ˌchān

: a digital database containing information (such as records of financial transactions) that can be simultaneously used and shared within a large decentralized, publicly accessible network

also : the technology used to create such a database

The technology at the heart of bitcoin and other virtual currencies, blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. —

Marco Iansiti and Karim R. Lakhani

Examples of blockchain in a Sentence

Recent Examples on the Web Scammers’ misstep shows multiple victims Around the time Sharples was targeted, some in that same criminal network appeared to hit multiple victims, according to an analysis performed for The Washington Post by blockchain analytics firm TRM Labs, which helps federal investigators. —

Michael Laris, Washington Post, 14 Dec. 2023 Elements of this idea bear a relationship to an initially underappreciated benefit of blockchain technology—the financial innovation known as initial coin offerings. —

IEEE Spectrum, 1 Dec. 2023 Lauren Goode: Ah, that must be where the blockchain comes in. —

WIRED, 18 Oct. 2023 So as well as inscribing a serial number that goes into the blockchain, Opsydia’s machines can take a photograph of the inscription that can also be stored in the ledger. —

Tim Barber, WIRED, 27 Nov. 2023 But Brody and his team are working on a way to overcome that obstacle and embed more privacy into blockchain maps. —

Eamon Barrett, Fortune, 13 Oct. 2023 These are backed by blockchain technology, which ensures transparent voting, as every token used leaves a clear record on the blockchain. —

Patrick Frater, Variety, 14 Nov. 2023 Environmental Concerns The carbon footprint associated with the computations required to validate transactions and mint new tokens on the blockchain. —

Anastasia Chernikova, Forbes, 13 Nov. 2023 The in-house token of the Ethereum blockchain has gained 72% this year. —

Vicky Ge Huang, WSJ, 9 Nov. 2023 See More

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'blockchain.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.