Python, Software Development, UX and Product Design - Blog - STX Next

Blockchain, Part One: What Is Blockchain and How It Works

Written by Jakub Grajcar | Apr 10, 2018 6:02:00 AM

If you’ve been on the Internet lately, you’ve probably heard of blockchain.

Some see this new technology as the beginning of a revolution. Others warn that right now, it’s nothing but a great way to lose a lot of time and money.

Where does the truth lie? It’s hard to tell without knowing the future.

So I took it upon myself to sit down with Krzysztof Karolczak, our Head of Service Delivery in Łódź. Krzysztof is a personal enthusiast of the blockchain technology, spearheading the blockchain-related projects at STX Next.

During our conversation, we tried to imagine the blockchain-enabled world of the future. Our talk was fruitful enough to produce a two-part series of blockchain articles.

In this part of our series on blockchain, we answer the following fundamental questions:

  1. How does blockchain work?
  2. How does it apply to currencies?
  3. What drives the value of Bitcoin?
  4. What impact will blockchain have on some of the industries you’re familiar with?

In the second part of our series, we take a look at how your browser experience might change if blockchain becomes part of everyday reality. It's up on the blog already; you can read it here.

But for now, let’s start by tackling the big question...