Blockchain

An encrypted digital record of transactions. The name comes from its structure, in which individual records[5], called blocks, are linked together in single list (or chain) using cryptography. Information[2] held on a blockchain exists as a shared and continually reconciled database[3]. Each block is protected with a timestamp and transaction[4] date and link to the previous block.A decentralized and distributed ledger technology[1] that securely records and verifies transactions across multiple computers or nodes, providing transparency, immutability, and trust.

Defined Terms
1. distributed ledger technology.

The broader term for technologies like blockchain and HolochainTM that enable decentralized and distributed ledgers.

2. Information ( Information )

The by-product of having data in an HR System. Data is gathered and reviewed providing information for decision making.

3. database.

A set of data. A permanent, self descriptive store of interrelated data items arranged in a logical way that can be accessed by various computer programs.

4. transaction.

A process whereby the exchange of information between a local and remote program achieves a result. The result is achieved only when all operations within the transaction are executed successfully.

5. records.

A collection of data elements or fields pertaining to the same entity (i.e. an employee, job, location, etc.). For example, each employee has a record that contains only his/her information (e.g. name, address, date of birth, etc.) in the record.

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