Blockchain timeline: 1990<\/p>\n
Much of the groundwork for the blockchain was set in the early 1990s. Stuart Haber and Scott Stornetta met while working for US software company Bellcore, where they identified a problem: the world relied so heavily on records that werent authenticated by an independent party, diminishing trust in their efficacy and the duo wanted to set about creating a solution.<\/p>\n
Within a year of presenting their idea, Haber and Stornetta had written the algorithm that would become recognised as the blockchain.<\/p>\n
The term itself is derived from the way data, such as the record of a transaction and its unique hash, is packaged into blocks and linked together like a chain. The more blocks are added, the stronger the chain becomes.<\/p>\n
By the end of the 1990s, computer scientist Nick Szabo had attempted one of the very first applications of this new decentralised system, proposing bit gold a forerunner to the very popular bitcoin. Bit gold was never implemented, and it would take another decade before anybody would build on Haber and Stornettas work to launch a decentralised currency.<\/p>\n
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See the original post here:<\/p>\n
Timeline: Evolution of blockchain tech in supply chain - Supply Chain Digital<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Blockchain timeline: 1990 Much of the groundwork for the blockchain was set in the early 1990s. Continue reading