What actually is a Blockchain?

Bitcoin is breaking record after record, but there must be more to the technology than just crypto, or not? Well, we can take a look at the underlying technology first to understand what it actually provides to us.

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1️⃣ Foreword

This will be a high-level overview to give you an intro to blockchain technology. With further threads, we will dive deeper and deeper, so don't be sad if something you really looked forward to isn't included as detailed as you would have wished for, yet!

2️⃣ Client-Server Architecture

Before we dive into blockchain technology, we should take a look at how most of the internet works. We need this to understand the fundamental differences between a traditional model and the change blockchain technology brings.

The internet is mostly powered by a client-server architecture. For each service offered, its data is stored and owned by one entity, and distributed to a multitude of clients. It is stored in databases and returned to the users on request with or without further processing.

The server decides what is true. Information that has been stored once, can still be modified. No one can stop the owner of a website from modifying information within their database(s) or deleting it from their records.