What is blockchain technology?

Blockchain technology is a distributed, decentralized digital ledger that records transactions in a secure, transparent, and verifiable manner. It is a revolutionary technology that allows for the creation of tamper-proof, transparent, and immutable records that can be shared among multiple parties without the need for a central authority or intermediary.

In a blockchain, transactions are verified by a network of nodes, and once validated, they are added to a block. Each block is cryptographically linked to the previous block, creating a chain of blocks or a "blockchain". The blockchain is maintained by a network of nodes, and any changes or modifications to the blockchain require consensus from the majority of the nodes.

The benefits of blockchain technology include increased transparency, security, and efficiency, as well as eliminating the need for intermediaries or central authorities. The technology has numerous applications, including in finance, supply chain management, healthcare, voting, and more.

Blockchain technology was first introduced in 2008 as the underlying technology behind Bitcoin, the first decentralized digital currency. However, since then, it has been applied to a wide range of use cases beyond cryptocurrencies.

Read more about blockchain applications in our blog article "What is Blockchain? A Simple Explanation for Beginners".

The article does not constitute financial advice.

Start with crypto today

Sign up on NBX, a trusted Norwegian cryptocurrency exchange and custodian, and kickstart your crypto journey safely.
Crypto 101
Explore the most popular crypto terms and find answers to your questions.

Are banks Bitcoin-friendly?

Read

What is DeFi?

Read

What is an IEO?

Read

How is bitcoin price determined?

Read

What is a DApp?

Read

What does the "fiat money" term mean?

Read

What is Shiba Inu?

Read

What is Litecoin?

Read

What is a derivative?

Read
Blog

Insights, Trends, Analysis

Unraveling the cryptocurrency industry revolution.
#crypto101

Previous bull runs and hypes

Each bull run in crypto brings new projects and hype to the crypto sphere.
3 minutes
2023-12-01
#crypto101

Week 46 in review: Dogecoin (Doge)

The week in review: Dogecoin (Doge) week 46 - 13th to 19th of Nov - NBX report.
2 minutes
2023-11-23
#crypto101

Week 46 in review: Ethereum (ETH)

The week in review: Ethereum (ETH) week 46 - 13th to 19th of Nov - NBX report.
2 minutes
2023-11-21
Cookie Consent

By clicking “Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. View our Privacy Policy for more information.