Forget Bitcoin: Blockchain is the Future



Cryptocurrencies of all types make use of distributed ledger technology known as blockchain. Blockchains act as decentralized systems for recording and documenting transactions that take place involving a particular digital currency. Put simply, blockchain is a transaction ledger that maintains identical copies across each member computer within a network.

Any party is able to both review previous entries and record new ones, although most blockchain networks have complex rules for the addition of new groups of records, “blocks,” to the chain of previous records. The blocks and the contents within them are protected by powerful cryptography, which insures that previous transactions within the network cannot be either forged or destroyed. In this way, blockchain technology allows a digital currency to maintain a trusted transaction network without relying on a central authority. It is for this reason that digital currencies are thought of as “decentralized.” (See also: How Does Blockchain Work?)

Click here to read the full article

The following two tabs change content below.

Francesca Marocchino

Francesca is greatly interested by the blockchain technology and how to make the best use of it. She likes to study the positive and negative impact new technologies can have on our lives. Also very passionate about the IOT and the development of smart cities, she believes we can all innovate to shape our future and preserve our planet at the same time.

Leave a Reply