Day 2

Subject: Let's clear up this blockchain confusion, [firstname].

Hi [firstname],

What is a blockchain?  There's a lot of confusion on this subject, so let's get things straight from the start.

According to Wikipedia a blockchain is:
“… a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a merkle tree root hash).

“By design, a blockchain is resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way".”

Put simply a blockchain is an open source ledger that records transactions.  It's a bit like having a spreadsheet that's duplicated thousands of times over a network of computers. Every time one spreadsheet gets updated, they all get updated.  Because no data is stored centrally,  it's impossible to hack, manipulate or corrupt.

No single entity (like a government) can control the blockchain. Because it's duplicated over and over, there's no single point of failure. If one part of the blockchain goes down, another part can be duplicated to take its place. Every transaction is recorded, so nothing is secret.

Pretty neat, huh?

The technology behind blockchains was invented by a guy called Satoshi Nakamoto (although some people think this may be pseudonym for a group of programmers) in 2008. The invention of the blockchain for the cryptocurrency Bitcoin made it the first digital currency to solve the double-spending problem without needing to have a trusted authority (like a central bank) or central server.

Like I said: Pretty neat!

Warmly,

[Your Name]

PS: I devote an entire chapter of my blockchain guide to deciding if blockchain technology is right for you.  You can find out more here: [link to sales page].
