One key difference between a typical database and a blockchain is how the data is structured. A blockchain collects information together in groups, known as blocks, that hold sets of information. Blocks have certain storage capacities and, when filled, are closed and linked to the previously filled block, forming a chain of data known as the blockchain. All new information that follows that freshly added block is compiled into a newly formed block that will then also be added to the chain once filled.

A database usually structures its data into tables, whereas a blockchain, as its name implies, structures its data into chunks (blocks) that are strung together. This data structure inherently makes an irreversible timeline of data when implemented in a decentralized nature. When a block is filled, it is set in stone and becomes a part of this timeline. Each block in the chain is given an exact timestamp when it is added to the chain.

KEY TAKEAWAYS Blockchain is a type of shared database that differs from a typical database in the way that it stores information; blockchains store data in blocks that are then linked together via cryptography. As new data comes in, it is entered into a fresh block. Once the block is filled with data, it is chained onto the previous block, which makes the data chained together in chronological order. Different types of information can be stored on a blockchain, but the most common use so far has been as a ledger for transactions. In Bitcoin’s case, blockchain is used in a decentralized way so that no single person or group has control—rather, all users collectively retain control. Decentralized blockchains are immutable, which means that the data entered is irreversible. For Bitcoin, this means that transactions are permanently recorded and viewable to anyone. How Does a Blockchain Work? The goal of blockchain is to allow digital information to be recorded and distributed, but not edited. In this way, a blockchain is the foundation for immutable ledgers, or records of transactions that cannot be altered, deleted, or destroyed. This is why blockchains are also known as a distributed ledger technology (DLT).

First proposed as a research project in 1991, the blockchain concept predated its first widespread application in use: Bitcoin, in 2009. In the years since, the use of blockchains has exploded via the creation of various cryptocurrencies, decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and smart contracts. Transaction Process Blockchain

Most events can be accessed with a SXSW pass. Events that require an RSVP or ticket are marked with an asterix.

Events for ICOs and Investors

Initial Taco Offering - The Founders Organization When: Sunday 11th March, 10:30AM–7:00PM Where: Bob’s Steak House, 301 Lavaca St.

ICOS: Venture Financing from an Invisible Crowd When: Sunday 11th March, 11:00AM–12:00PM Where: Hilton Austin Downtown, Salon K, 500 E 4th St.

SXSW Crypto Summit: New Girls on the Block When: Monday 12th March, 11:00AM — 10:00PM Where: Hotel Van Zandt, 605 Davis St.

ICO Alternative Financing for Startups When: Tuesday 13th March, 9:30AM –10:30AM Where: Hilton Austin Downtown, Salon DE, 500 E 4th St.

Crypto Economy / ICO 2018 When: Wednesday March 14th, all day Where: Empire Control Room, 606 E. 7th St.

$100,000 Blockchain Investment Challenge When: Thursday 15th March, 2:00 — 4:00PM Where: JW Marriott, Salon E, 110 E 2nd St.

Events for Blockchain Beginners

Blockchain and the Impact of a Decentralized World When: Monday 12th March, 12:30–1:30PM Where: Austin Convention Center, 500 E Cesar Chavez

What is Blockchain? How Will It Change the World? When: Wednesday 14th March, 11:00AM-12:00PM Where: JW Marriott, Salon D, 110 E 2nd St.

Finance and Economics Focussed Blockchain Events

World Tokenomic Forum: CryptoHaus 2018 Where: CryptoHaus When: 9–13th March, all day

Trust in the Age of Misinformation When: Saturday 10th March, 12:30–1:30PM Where: Courtyard Marriott, Rio Grande Ballroom

SingularDTV Post-Panel Cocktail: Tokenized Economics and Mixed Drinks When: Saturday 10th March, 4:30–5:40PM Where: Austin Convention Center, 500 E Cesar Chavez.

Cryptocurrencies: A New Future for Money When: Tuesday 13th March, 11:00AM — 12:00PM Where: JW Marriott, Salon A, 110 E 2nd St.

How Blockchain Will Impact Financial Markets When: Thursday 15th March, 3:30–4:30PM Where: JW Marriott, Salon D, 110 E 2nd St.

SXSW VR Blockchain Events aimed at Developers

Blockchain & Ethereum Meetup When: Tuesday 13th March, 9:30–10:30AM Where: JW Marriott, Room 211–212, 110 E 2nd St.

Blockchain Opportunities in Mobility and Logistics When: Wednesday 14th March, 2:00–3:00PM Where: JW Marriott, Salon E, 110 E 2nd St.

Ethereum Will Disrupt Everything When: Thursday 15th March, 11:00AM-12:00PM Where: JW Marriott, Salon E, 110 E 2nd St.

Crypto Parties

Ethereal Lounge by ConsenSys When: Friday 9th to Sunday 12th March, 8:00PM-12:00AM Where: 87 Rainey St. RSVP here

Just HODL by BYOBitcoin When: Monday 12th March, 9:00PM — 2:00AM Where: 601 Rio Grande St.

SXSW Party Tips to Survive SXSW

Plan the night before what you want to attend Don’t try and go to more than 4 events per day. Leave 60 minutes to transition to and from events. Make sure you have a extra power packs for you phone, you will most probably be out and about much longer than you expect and will want to call an uber home! Keep hydrated and don’t skip meals

Elon Musk at it again! As a crypto trader and investor, you know that no single investor or trader has a right to change the activities of the market. However, some personalities have a massive influence on the trends of the crypto market. One of these persons is the CEO of Tesla Motors, Elon Musk. Elon Musk had in the past influenced the value of cryptocurrencies like Bitcoin and Dogecoin positively and negatively. His company Tesla was influential in the recent crash of Bitcoin and the entire cryptocurrency in May. However, this time, Musk did some good to the crypto world. He took to his famous Twitter platform to explain that Tesla may soon accept Bitcoin as a form of payment. He added a condition to that tweet. Elon claimed that if Bitcoin miners can reduce their energy impact by about 50% and improve the future, the company will accept Bitcoin in the future. This statement by Elon pushed the price of Bitcoin to the $40000 range.

1. New Bitcoin upgrade approval

For the past four years, there has been no upgrade to Bitcoin until this past week. On Saturday, this upgrade was approved, and it will kick off this week. This will help transparency on blockchain and will give room to smart contracts.

1. Covid-19 positive attendees

If you didn’t hear about it before now, there was a Bitcoin conference on the 4th and 5th of June in Miami in America. Unfortunately, the organizers of this event didn’t put strict rules against the COVID-19 virus. However, there were rumors about some attendees contracting the virus. However, officials from the mayor’s office in Miami debunked that the conference was a major spreader of the virus.

1. El Salvador moves towards Bitcoin being a legal tender

As much as there are millions of Bitcoin traders and investors worldwide, no single country has accepted the currency as a legal tender. However, El Salvador became the first country to create a rule that accepts the legal tender of Bitcoin. The meaning of this rule is that Bitcoin can now be used for buying and selling legally in the state.

1. FBI uncovers $2.3 million Bitcoin fraud.

This past week, the justice department of the FBI recovered $2.3 million worth of Bitcoin. This amount was paid to some hackers of ransomware by colonial masters. This news caused a scare about bitcoin being hacked, which reduced the price of Bitcoin a bit.

1. US senator calls for crypto regulation

A senator of the United States of America, Elizabeth Warren, called for the regulation of cryptocurrency. She sighted that crypto was an excellent opportunity for scammers to rage some investors.