What is the blockchain?

Neuralia develops and extends its in-house blockchain platform for enterprise purposes. Our blockchain implements cutting edge technologies that allows us to stand head and shoulders above other industry players. Our blockchain was designed to accommodate the real needs of modern enterprises.

What is the blockchain?

The blockchain is better known for its starring role in the novel cryptocurrency space. You may have heard of Bitcoin and Ethereum. These technologies are all made possible because the use a new way of storing data called a blockchain.

There are two essential analogies that we can use to describe the blockchain conceptually. 

  1. An accounting ledger

    The first main innovation of the blockchain is that it is an immutable and distributed ledger system. Any type of data can be accounted for and inserted into a blockchain ledger. Once inserted, it is permanently secured by complex cryptography. This way, each time somebody receives a copy of the blockchain ledger, they can confirm that the content is as it should be.

  2. A worldwide logistical shipping system

    The other main purpose of the blockchain is to enable the exchange of data to anyone in the world, offer confirmation of its reception, and of the origin and authenticity of its content. Think of it as shipping containers that can be shipped from an origin to a receiver across the world. Everyone wants to be sure that whatever data was put inside the container is what the receiver will see when they open the container. This is where the ledger comes into play to offer the entire shipping manifest and confirmation of content.

So in short, the blockchain is a cryptographically secure freight shipping system that just about anything can be inserted into the containers and sent anywhere. A cryptocurrency such as bitcoin is when we insert money into the containers. This container is sent to the destination and the receiver opens the container to take the currency with full assurances of safe delivery.