Stuart Haber and W described the first piece on a cryptographically secured block chain in 1991. Scott Stornetta, right. They decided to introduce a program that couldn't tamper with record timestamps. In 1992, Haber, Stornetta, and Dave Bayer incorporated Merkle trees into the design, which improved their efficiency by allowing the collection of several document certificates into one block.In 2008 a person known as Satoshi Nakamoto conceptualized the first blockchain. Nakamoto significantly improved the design by using a Hashcash-like method to time-stamp blocks without requiring them to be signed by a trusted party and adding a parameter of difficulty to control the rate with which blocks are added to the chain. Nakamoto adopted the concept the following year as a core component of the crypto-currency bitcoin, where it acts as the public ledger for all network transactions.In August 2014, the size of the Bitcoin blockchain register, which includes records of all transactions that took place on the network, reached 20 GB. The size had grown to nearly 30 GB in January 2015, and the bitcoin blockchain increased from 50 GB to 100 GB in size from January 2016 to January 2017. In early 2020, the ledger scale had reached GB 200.
A blockchain, is a that list of records, called blocks, that use cryptography to connect. Every block includes the previous block's cryptographic hash, a timestamp , and transaction data.