Blockchain Technology
|
blockchain, cryptography, bitcoin, digital ledger, trust, digital currency, transaction
What is blockchain?
When people hear the work Blockchain, they usually associate it with Bitcoin (a digital currency), but blockchain’s potential uses extend far beyond this single use. Currently, most people use a trusted middleman such as a bank to make a transaction. But blockchain allows consumers and suppliers to connect directly, removing the need for a third party. Using cryptography to keep exchanges secure, blockchain provides a decentralized database, or “digital ledger”, of transactions that everyone on the network can see. This network is essentially a chain of computers that must all approve an exchange before it can be verified and recorded. There are many great resources that explain what blockchain is and its various applications. You can check these resources out by clicking the Resource link below.
|
