Glossary · from the DESK dictionary
Blockchain
A decentralized, chained database that records transactions immutably and transparently across all participants.
In plain words
A digital ledger that doesn't live on one central server but on thousands of computers at once — and can practically never be altered after the fact.
In more detail
Each 'block' contains a group of transactions plus a cryptographic reference to the previous block, forming a tamper-resistant chain. Consensus mechanisms like proof of work or proof of stake ensure all network participants agree on the same state.
Example
Bitcoin was the first application of blockchain technology, originally designed as a decentralized digital payment system.
What it means for traders
The foundational technology behind virtually all cryptocurrencies and a growing share of decentralized finance applications.
Common pitfalls
Scalability, energy consumption (for proof of work), and regulatory uncertainty remain key challenges.
Related terms
Atomic Swaps · Bitcoin · Block (Blockchain) · Cryptocurrency · Decentralized Applications (dApps) · Distributed Ledger Technology (DLT) · Double-Spending · Immutability · NFT (Non-Fungible Token) · Node · Private Key · Proof of Stake (PoS) · Proof of Work (PoW) · Smart Contract · Token
From the DESK dictionary. For information only, not investment advice.
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DESK is a research tool and not investment advice. Page generated: 2026-10-12.