What Exactly Is Blockchain?

While bitcoin and blockchain are often part of the same discussion, the two technologies are not synonymous and blockchain actually has potential issues far beyond bitcoin and other cryptocurrencies. Blockchain, a recording software that makes it near impossible to change, hack, or cheat the system, can be a way to get multiple parties that might not trust each other to share and agree on data. It’s this peer-to-peer system that’s made blockchain appealing for financial applications like Bitcoin and other cryptocurrencies. But ironically, it is those same features that make it secure, that also make it impractical for many applications.