Blockchain technology: how it is used in cryptocurrencies and beyond
Let’s start with a few quick definitions. Blockchain is the technology that, among other things, ensures the existence of cryptocurrency. Bitcoin is the name of the most famous cryptocurrency for which blockchain technology was invented. Cryptocurrency is a medium of exchange like the U.S. dollar, but it is digital and uses encryption techniques to manage…
Blockchain is the latest technology, the interest in which has grown along with the popularity of cryptocurrencies. Today it is widely discussed not only in the world of finance. Blockchain is already being used to store and process personal data and identification, in marketing and computer games. But what is blockchain? Let’s spell it out.…
Today, blockchain is used in many areas beyond sending and receiving digital money. However, I would like to stress that most such projects still exist in an idea format: on paper or in the initial process of development. However, some are already working and showing good results. Blockchain opportunities in the IT sphere Being an…
Blockchain gives us the technology to move information around securely and has almost complete confidence in the authenticity of any information you want to protect. Let’s take a look at some of the most common stories on the web about celebrities and companies making money from digital property by selling NFTs (irreplaceable tokens). Because the…
The purpose of blockchain is to allow digital information to be written and distributed, but not edited. Thus, blockchain is the basis for immutable ledgers or transaction records that cannot be changed, deleted or destroyed. Therefore, blockchains are also known as distributed ledger technology (DLT). Blockchain is a self-sufficient, yet extremely open structure and no…
