A blockchain can be seen as a distributed database whose information is stored across every node running the network. Because the database is distributed among those running the network, it guarantees data stored within it is accurate and securely stored.
As the name implies, blockchains store their data into blocks that are added to the network as time goes by. Each subsequent block builds on the information stored in previous blocks, which means blockchains form a data timeline that can be securely trusted.
When it comes to cryptocurrencies, the blockchain ensures trust and solves what’s known as the Byzantine generals problem, which describes the difficulties dispersed parties have in reaching consensus. Since Bitcoin uses blockchain technology, one can accurately verify that funds aren’t spent twice, that its supply is limited, and the history of transactions on the network.
The technology goes beyond these use cases, however, with a number of companies and organizations having...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...