7 myths about the Bitcoin blockchain; There’s some confusion around what the Bitcoin blockchain can and can’t do. Gartner analysts list 7 common myths about the technology
Everyone’s talking about the Bitcoin blockchain – a global, distributed ledger of transactions for the Bitcoin digital currency – allowing for peer-to-peer payments over the Internet.
According to a Gartner definition, the Bitcoin blockchain is “an authoritative record of Bitcoin transactions, and is not stored in, or controlled by, a central server.” Instead, transaction data is replaced as a whole across a peer-to-peer network of thousands of coins.
The Bitcoin blockchain is being applied across many industries in areas such as the Internet of Things, digital rights management, and global payments.
But among all the global noise, there is some confusion around what it can and can’t do. In a report published this month, Gartner analysts Ray Valdes, David Furlonger, and Fabio Chesini shared seven common myths about the Bitcoin blockchain……..
See complete report at CIO