Posted: Apr 26, 2018 08:40 PM CDT New digital currencies like Bitcoin have been in the news a lot recently. Technology now lets people exchange value digitally rather than with physical items like coins or gold.
It is a new and unfamiliar concept to many, so Old National Bank held an informational presentation on Thursday to discuss cryptocurrencies, tokens, and blockchains. “It’s essentially a ledger,” said Schwentker. “It’s a ledger that runs on the Internet.
It’s a distributed ledger, a digital ledger, and it reports transactions of cryptocurrencies and tokens. And these are reported chronologically like a log file.”
Put simply, blockchain is like a database. The records in the database are called “blocks”, and Bitcoin is an example of the cryptocurrency it reports.
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