Blockchain Technology
What is a blockchain? How does it work? Why is it important to us?
Cryptic Definitions
Beginner Definitions
What is a blockchain?
- it is a digital ledger
- a network of computers configured to make it impenetrable to hackers
- offers non intermediary offerings between individuals to deal with each other
- this allows digital money to be safely and securely moved on the internet
What is a blockchain?
- a digital collection of accounts
- computers connected in such a way that construct strength in numbers
- a secure way to transact without banks or government overseeing it
- this is how cryptocurrencies move within the internet
Why is blockchain technology important?
This truly is the future of how money and business transactions will be done. An individual only has to rely on themselves to make the transaction safe and successful. There is not need for banks or other parties to be involved in your dealings. This is the future of “SAFETY“!
by the numbers
Blockchain
MAIN TYPES OF NETWORKS
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BLOCKCHAINS GLOBALLY
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Frequently Asked Questions
Absolutely. Simply put, they are based on decentralization principles, as well as consensus and cryptography.
Blockchains are not without risks. Generally these risk factors can be broken down into 4 areas.
- general risks
- security risks
- development risks
- legal risks
No. This is one of the most amazing features of blockchain technology. It is a decentralized PUBLIC ledger that everyone can own a copy of and have access to use its services.
- Public
- Private
- Hybrid
- Consortium
Yes. Blockchains are immutable digital records of information.