Blockchain technology was first introduced in 2008 as the underlying technology for the digital currency, Bitcoin. The individual or group of individuals, known as Satoshi Nakamoto, published a whitepaper detailing the concept of a decentralized digital currency that would use cryptography and a distributed ledger to record and verify transactions.
This technology uses a chain of blocks, hence the name "blockchain", to store and maintain a continuously growing list of records, called blocks. Each block contains a timestamp and a link to the previous block, creating a chain that is resistant to modification of the data. This feature ensures the integrity of the data and makes the network transparent, decentralized and tamper-proof.
Over the years, blockchain technology has evolved beyond its original use case of digital currency and is now being explored and implemented in various industries such as finance, healthcare, supply chain management, voting systems and more.
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